{"id":926852,"date":"2026-10-09T19:00:11","date_gmt":"2026-10-09T19:00:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/926852\/"},"modified":"2026-10-09T19:00:11","modified_gmt":"2026-10-09T19:00:11","slug":"shell-to-buy-30-stake-in-proposed-bay-du-nord-oil-project-off-newfoundland","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/926852\/","title":{"rendered":"Shell to buy 30% stake in proposed Bay du Nord oil project off Newfoundland"},"content":{"rendered":"

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Norway-based Equinor says it has reached an agreement for Shell to buy a 30 per cent stake in the proposed Bay du Nord oil project off the coast of Newfoundland.<\/p>\n

Equinor says it will retain a 70 per cent operating interest in the project, which would be the first deepwater oil development in Canada.<\/p>\n

The news comes about three months after British oil giant BP announced it had signed a deal to sell its 37.2 per cent interest in the project.<\/p>\n

Equinor is expected to decide whether to proceed with the $14-billion Bay du Nord development early next year.<\/p>\n

In a news release, Equinor executive Philippe Mathieu says the new partnership with Shell strengthens the project as it moves toward that final investment decision.<\/p>\n

Bay du Nord would be in waters about 500 kilometres east of St. John’s, N.L., farther away from shore than any other offshore oil project on the globe.<\/p>\n

Download our free CBC News app<\/a> to sign up for push alerts for CBC Newfoundland and Labrador. Sign up for our daily headlines newsletter here<\/a>. Click here to visit our landing page<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Listen to this article Estimated 2 minutes The audio version of this article is generated by AI-based technology.…\n","protected":false},"author":2,"featured_media":926853,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-926852","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/926852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=926852"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/926852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/926853"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=926852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=926852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=926852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}