Shell Acquires 30% Stake in Equinor’s Bay du Nord Oil Project

Key Facts

Shell has acquired a 30% stake in Equinor’s Bay du Nord oil project located offshore Canada. Investing.com reported that Shell secured a working interest in the development within the Flemish Pass Basin, expanding its offshore energy portfolio. The acquisition allows Shell to apply its deepwater expertise to the multi-billion dollar project, while Equinor maintains its role as operator and retains a majority stake.

SHEL closed at $100.2 on October 8, 2026, and EQNR closed at $42.93 on the same date. This partnership provides further clarity on the financing and development trajectory of the asset. In broader energy context, API crude oil stocks in the United States decreased by 2.09 million barrels as of October 6, 2026, reflecting current supply dynamics in the sector.