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Oil supermajors approaching large-scale asset sale

Analyst firm estimates that oil supermajors are headed toward a fire sale of assets worth over USD 27 billion. Three companies in particular are expected to take the lead.

Photo: POLFOTO/AP/Daniella Beccaria/seattlepi.com

Some of the world's largest oil companies could be on track to sell assets worth USD 27.5 billion, concludes analyst firm Rystad Energy.

The major billion-dollar sale is expected to occur as a consequence of the supermajors needing funds for big investments and to satisfy shareholders, who are increasingly demanding stricter monetary discipline from the companies.

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