Shell completes exit from Canadian oil sands

The world’s second largest publicly traded oil company Royal Dutch Shell is exiting Canada’s oil sands sector after announcing that subsidiaries Shell Canada Energy, Shell Canada Limited and Shell Canada Resources signed two agreements that will transform its Canadian business. Under the two accords, Shell will sell all of its in situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca oil sands project (AOSP) from 60% to 10%.