Newspaper article The Canadian Press

National Audio 12:45 PM ET

Newspaper article The Canadian Press

National Audio 12:45 PM ET

Article excerpt

National Audio 12:45 PM ET

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NAT070 - (Shell-Oilsands) CALGARY. x-12s. Global oil and gas giant Royal Dutch Shell is selling off most of its oilsands assets in a deal that will see it pull in 7.25-billion-dollars U-S. Canadian Natural Resources will be buying most of the assets in the complex deal, which also involves Marathon Oil Canada and will leave Shell with a much smaller footprint in Canada. Michael Crothers, Shell Canada's president and country chair, says the oilsands no longer fit into Shell's long-term strategy after its acquisition of a major gas company last year. ("..fit for Shell.") (SOURCE:The Canadian Press)

TAG: Shell says the deal with have a minimal effect on jobs since most staff will be transferred over to Canadian Natural, but did not provide exact numbers. …

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