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ExxonMobil plans £1.6bn sale of North Sea oil and gas stakes

US oil firm in talks for portfolio owned with Royal Dutch Shell that includes Brent field

ExxonMobil is planning a retreat from the North Sea with a $2bn (£1.6bn) sale of its oil and gas fields after almost 50 years in the UK’s oil basin.

The world’s largest listed company is in talks with a number of North Sea oil firms to sell the stakes it owns in about 40 oil and gas fields alongside Royal Dutch Shell.

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