Shell sold its stake in Canadian Natural for $3.3 billion

Shell Gas, a division of British-Dutch oil and gas company Royal Dutch Shell, reported the sale of its stake in Canadian Natural Resources, which is developing oil sands in Canada, the project wrote. It is noted that Shell Gas sold all its Canadian Natural shares. It is also reported that the proceeds from the transaction before taxes will amount to about $3.3 billion, which will be used to reduce the debt of Shell. The market capitalization of Canadian Natural, which is one of the largest oil companies in Canada, is about $35 billion.

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