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Shell acquires stake from BP in Equinor's Bay du Nord project in Canada
Rigzone · October 12, 2026 · Week 2026-42
Summary
Shell is acquiring a stake from BP in Equinor's Bay du Nord deepwater oil project offshore Canada. This portfolio adjustment among the IOCs helps advance the project towards a final investment decision targeted for early 2027, reflecting ongoing portfolio high-grading by European majors.
Strategic Implication
Portfolio adjustments by major IOCs in non-core regions can signal shifts in capital allocation that may affect future investment levels in the MENA region.