{"id":3975,"date":"2023-03-01T14:24:21","date_gmt":"2023-03-01T14:24:21","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=3975"},"modified":"2023-03-01T14:24:23","modified_gmt":"2023-03-01T14:24:23","slug":"canada-pension-plan-to-invest-in-california-oil-venture-alongside-ikav","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/3975\/","title":{"rendered":"Canada Pension Plan to invest in California oil venture alongside IKAV"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Canada Pension Plan Investment Board (CPP) agreed on Tuesday to buy a 49% stake in Aera Energy, a California oil venture being acquired by German asset manager IKAV from Shell\u00a0(SHEL.L)\u00a0and Exxon\u00a0(XOM.N)\u00a0for $4 billion.<\/p>\n\n\n\n<p>The venture, California&#8217;s second-largest oil and gas producer, will invest in renewable energy to eventually power its operations, the institutional investor said.<\/p>\n\n\n\n<p>&#8220;Over time, renewable power will be deployed across Aera&#8217;s land holdings, while selected legacy oil and gas infrastructure will be repurposed to create carbon capture and storage capability,&#8221; CPP added.<\/p>\n\n\n\n<p>IKAV did not immediately respond to a Reuters request for comment.<\/p>\n\n\n\n<p>The\u00a0announced sale\u00a0by Shell and Exxon last September reflected the two companies&#8217; move out of mature energy properties at a time when high oil and gas prices favor new deals.<\/p>\n\n\n\n<p>However, the sale was\u00a0pushed back\u00a0to the first quarter of 2023 for regulatory approval from the U.S. Committee on Foreign Investment, which weighs national security risks of sales to foreign-owned companies.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-03-01T14:24:23+00:00\"> 1 March 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Canada Pension Plan Investment Board (CPP) agreed on Tuesday to buy a 49% stake in Aera Energy, a California oil venture being acquired by German asset manager IKAV from Shell\u00a0(SHEL.L)\u00a0and Exxon\u00a0(XOM.N)\u00a0for $4 billion. The venture, California&#8217;s second-largest oil and gas producer, will invest in renewable energy to eventually power its operations, the institutional investor said. [&hellip;]","protected":false},"author":1,"featured_media":3976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16],"tags":[],"services":[],"class_list":["post-3975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=3975"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/3976"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=3975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=3975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=3975"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=3975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}