02:02 PM EST, 11/13/2024 (MT Newswires) -- Shell (SHEL) is looking to sell a majority stake in its portfolio of carbon offset projects amid a market contraction in the sector, Bloomberg reported Wednesday.

While a number of options are under consideration, the current plan is for the oil major to retain a minority stake, the report said citing a company spokesperson.

Shell did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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