Shell agrees to buy a 30% stake in the proposed Bay du Nord oil project off the coast of Newfoundland, according to multiple reports. Norwegian company Equinor says an agreement has been reached with Shell for the minority position in the project.
Equinor is set to retain the remaining 70% interest. The outlets cover the same transaction and location details, with emphasis on Equinor’s role in the project and Shell’s planned participation. The reporting frames Bay du Nord as an offshore development in Newfoundland and Labrador, with Shell’s investment described as a stake purchase rather than a change in project operatorship.
