Shell Canada exiting oilsands, boosts stake in Scotford upgrader and Quest carbon facility

Shell Canada Ltd. is exiting the oilsands successful a woody with Canadian Natural Resources Ltd. successful an statement that volition spot it summation its involvement successful the Scotford upgrader and Quest Carbon Capture and Storage facility.

Shell is swapping its remaining 10 per cent involvement successful the Albian mines successful speech for a 10 per cent involvement successful the Scotford upgrader and Quest CCS facility.

The woody volition boost Shell’s involvement successful the upgrader and c seizure installation to 20 per cent.

Shell is the relation of the Scotford upgrader and Quest CCS facility, located adjacent to the Shell-owned Scotford refinery and chemicals plants adjacent Edmonton.

The swap stems from a proviso successful a 2017 woody involving the Athabasca Oil Sands Project. The transaction is taxable to regulatory approvals and is expected to adjacent successful the archetypal fractional of this year.

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Shell’s Canadian assets see a 40 per cent involvement successful LNG Canada, upstream operations successful northeast B.C. and northwest Alberta arsenic good arsenic 1,400 Shell-branded sites crossed the country.