Shell, ARC Resources and Canada
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The transaction would boost Shell’s oil and gas production capabilities
Shell is set to expand its reach in Western Canada with a deal to buy Arc Resources, a move expected to boost production at a time when Canada is looking to grow energy exports.
Shell is making its biggest acquisition in a decade.
Shell has struck a £12bn deal for Canadian gas giant ARC, in what will be its biggest acquisition since the takeover of BG Group more than a decade ago.
Shell bolstered efforts to revive its core oil and gas enterprise with a major acquisition of Canada's ARC Resources.
Shell is looking to enhance its integrated gas portfolio and expand its presence in Canada with long-term Montney resources.
The majority of Shell gas stations in London, Ont., have been without gas this past week with pumps blocked and sign boards displaying rows of zeros. Some employees in the city, who were not authorized to speak to CBC News,
Shell Plc Chief Executive Officer Wael Sawan said oil and liquefied natural gas shortages caused by the Strait of Hormuz blockade could continue for months and potentially into next year.