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Shell sells off its oil and gas business in Texas’ Permian Basin, seeking to reduce its reliance on fossil fuels

Texas-based ConocoPhillips bought Shell’s Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.

A drilling rig at sunset operates a couple hundred yards north of Fasken Elementary School on the north side of Midland, Texas.

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