Japan's Sumitomo exits US shale oil business with sale of stake in Eagle Ford project

Japan's Sumitomo exits US shale oil business with sale of stake in Eagle Ford project

A pumpjack operates above an oil well at night in the Bakken Formation on the outskirts of Williston, North Dakota, U.S., on Thursday, March 8, 2018. Photographer: Daniel Acker/Bloomberg

Japanese trading house Sumitomo Corp has quit the shale oil business in the United States by selling its stake in a project in the Eagle Ford during the October to December quarter of 2020, a company spokesman said on Thursday.

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