""We're having more supermajors start to look at Canada as a viable place to invest. This is probably the start of more things to come," said BMO Capital Markets analyst Jeremy McCrea about the significance of the deal."
""Shell's investment could signal the European firm is preparing to spend billions more in Canada by moving ahead with an expansion that would increase natural gas exports off the West Coast.""
""Over the last 12 months, however, the opposite trend has emerged. Domestic and international companies have made several acquisitions in Western Canada, including Cenovus winning a bidding war for MEG Energy.""
Shell is acquiring Calgary-based ARC Resources for $22 billion, marking its largest acquisition in a decade. This move follows a trend of increased investments in Canada's oil and gas sector, reversing a previous trend where foreign companies reduced their operations. The acquisition signals Shell's intent to expand its natural gas exports from Canada, particularly in light of global energy supply disruptions. Analysts suggest this deal may lead to further investments from supermajors in the Canadian energy market.
Read at www.cbc.ca
Unable to calculate read time
Collection
[
|
...
]