According to CNBC, british oil major Shell on Monday said it agreed a deal to buy Canadian energy company ARC Resources in a deal valued at $16.4 billion.
The transaction, described as a strategic move, aims to expand Shell’s footprint in the Montney shale basin and enhance its low-carbon intensity production capabilities.
The energy market reacted to the news, with potential implications for oil and gas equities.
The deal could reshape competitive dynamics in the sector and signal a broader trend of consolidation among energy firms.