Oil giant continues to reduce debt as it offloads assets to Chrysaor, led by its former group head Linda Cook

Shell has sold a large part of its North Sea oil fields for $3.8bn (£3bn) to a company headed by Linda Cook, who left the Anglo-Dutch group more than seven years ago after missing out on the top job.

American-born Cook, nicknamed the first lady of oil and gas by the City, had been at Shell for 29 years and was latterly in charge of the group’s gas and renewables businesses. She was a frontrunner to become chief executive, but instead Peter Voser was appointed to the post and Cook resigned.

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