Big Oil Sells Billions Of Dollars Of Assets To Less Transparent Firms

Oil companies with climate goals and commitments are increasingly selling assets to private and less scrutinized operators with lower environmental standards, which does not help the global push to cut overall emissions, Environmental Defense Fund (EDF) said in a new report on Tuesday. Deal-making in the oil and gas industry has been increasingly shifting to companies with lower climate commitments becoming buyers of more and more oil and gas assets over the past five years, the U.S.-based non-governmental organization said in the study. “If…