Shell to sell Canadian assets

ROYAL DUTCH Shell has announced it will sell off some of its Canadian oil and gas assets for more than $1bn (£815m).

The company said it has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp, including properties across north-east British Columbia and west-central Alberta.

After the sale, Shell will still own more than 600,000 net acres in oil and gas lands across the two provinces. The move is in line with Shell’s divestment plans, having announced major costcutting plans in July following a major slide in oil prices.