Shell is exiting the majority of its Canadian oil sands position and taking another big step forward in its asset sales programme after agreeing to sell a majority of its interest in the Athabasca Oil Sands Project (AOSP) to Canadian Natural Resources (CNR) for US$7.25 billion.
The first of two major CNR deals includes the sale of all of Shell’s in situ and undeveloped oil sands leases in western Canada, its Scotford Upgrader and the Quest carbon capture and storage project.
