Shell is expected to sell its $3bn stake in Canadian Natural Resources(CNR).
The oil super major acquired the interest as part of its exit from Canada’s oil sands earlier this year. In March, the operator sold its assets in the area for $8.5billion. That payout included $3billion worth of CNR shares.
Reuters reported the oil major as having held interviews with investment banks to hire as part of the divestment. The move would fall in line with Shell’s plans to complete $30bn of investments. The oil major has already surpassed the halfway mark, including selling off parts of its North Sea portfolio.
The deal would be one of the biggest ever equity sales in the region.
CNR is currently valued at C$4.1billion.
