Royal Dutch Shell Plc has agreed to sell out of oil-sands producer Canadian Natural Resources Ltd. The Anglo-Dutch company’s Shell Gas BV unit will divest all its shares in Canadian Natural for total pretax proceeds of $3.3 billion (U.S.), The Hague-based Shell said Monday. That’s a 2.9 percent discount to Canadian Natural’s close on Monday in New York. At the end of the first quarter, Shell had completed $26 billion of that program. He has repositioned Shell to focus on cleaner natural gas, shedding carbon-intensive assets such as oil sands.

Source: thestar May 08, 2018 09:22 UTC