Shell, ARC and Canada
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The transaction would boost Shell’s oil and gas production capabilities
Crews continue fighting blaze sparked by hydrogen and gas leak late Monday night
Shell is set to expand its reach in Western Canada with a deal to buy Arc Resources, a move expected to boost production at a time when Canada is looking to grow energy exports.
Shell and third-party providers did not initially detect elevated levels of chemical emissions from the overnight fire.
A fire at a process unit inside the Shell Norco refinery prompted an overnight emergency response in St. Charles Parish, with crews still working early Tuesday morning to extinguish the flames. In
Shell (SHEL) refocuses to boost profitability via a multi-year plan, with visible shareholder progress expected soon. Read more on what investors should know about this company.
Shell bolstered efforts to revive its core oil and gas enterprise with a major acquisition of Canada's ARC Resources.
Fire burning at Shell Norco, emergency crews on-site.
A large late-night fire ripped through a process unit at the Shell Norco manufacturing complex in Norco, St. Charles Parish, on Monday, throwing an orange glow across Airline Highway and drawing an all-night emergency response.
A fire at Shell Norco's process unit prompted St. Charles Parish emergency response Tuesday morning, April 28.
Shell has agreed to buy ARC Resources in a cash-and-stock deal valuing the Canadian energy company at $13.6 billion, with the total value rising to $16.4 billion when accounting for ARC's net debt and leases. It's the European energy giant's biggest deal since it bought BG Group for around $80 billion a decade ago.