TOKYO -- Japanese trading house Sumitomo Corp. has offloaded the last of its interests in shale development with the sale of oil operations in Texas, as the arrival of a more climate-conscious White House clouds the outlook for fossil fuels.
Energy
Sumitomo completes exit from shale oil with sale of US assets
Biden administration and competition push trading houses out of once-promising field
An oil worker walks toward a drill rig in Loving County, Texas. © Reuters
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