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Shell Buying 30 Per Cent Stake In Bay Du Nord Oil Project Off Newfoundland
Shell will take a 30% stake as Equinor keeps control of the proposed $14-billion Bay du Nord project.
- On Oct 9, Shell agreed to acquire a 30 per cent stake in the proposed oil project off the coast of Newfoundland, strengthening the development's partnership structure.
- Holding a 70 per cent operating interest, Norway-based Equinor continues to lead the $14-billion deepwater development, which is situated about 500 kilometres east of Newfoundland.
- This agreement follows the recent exit of BP-N, which announced it had sold its 37.2 per cent interest in the project three months ago.
- Equinor executive Philippe Mathieu stated the new partnership strengthens the project as the consortium moves toward a final investment decision expected early next year.
- As Canada's first deepwater oil development, the project is situated farther from shore than any other offshore installation on the globe, pushing technical boundaries.
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The Toronto StarReposted by 
Western Investor
Western InvestorShell to buy 30 per cent stake in Bay du Nord oil project off Newfoundland
ST. JOHN'S - Norway-based Equinor says it has reached an agreement for Shell to buy a 30 per cent stake in the proposed Bay du Nord oil project off the coast of Newfoundland.
·Toronto, Canada
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Canadian ManufacturingReposted by 
Airdrie City View
Airdrie City ViewShell Buying 30 Per Cent Stake In Bay Du Nord Oil Project Off Newfoundland
The Norwegian energy giant is expected to decide early next year whether it will proceed with the $14-billion project, which would be the first deepwater oil development in Canada.
Winnipeg Free Press+2 Reposted by 2 other sources
Shell to buy 30 per cent stake in Bay dud Nord oil project off Newfoundland
ST. JOHN'S - Norway-based Equinor says it has reached an agreement for Shell to buy a 30 per cent stake in the proposed Bay du Nord oil project off the coast of Newfoundland.
·Winnipeg, Canada
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Total News Sources16
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
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