Canadian Natural and Shell Announce Swap Deal for AOSP Assets

Canadian Natural Resources Limited (CNQ) and Shell Canada, an affiliate of Shell plc (SHEL) , have agreed on an asset swap transaction relating to the transfer of a working interest in the Athabasca Oil Sands Project (AOSP).The deal is expected to close by the first quarter of 2025, subject to certain regulatory approvals.The Asset Swap DealAccording to the deal, CNQ will trade 10% of its working interest in the Scotford Upgrader and Quest Carbon Capture and Storage facilities in exchange for Shell’s 10% wo ...