CALGARY, Canada — Shell Canada Ltd. said it was unaware of any takeover plans by parent company Royal Dutch Shell plc as the oil and natural gas producer’s shares fell more than 3 percent on Tuesday, Canadaeast.com reported.
Calgary-based Shell lost $1.55 to $40.50 in trading of more than 860,000 shares on the Toronto stock market, even as the exchange's energy sub-index rose more than 2.5 percent due to rising oil prices, according to the report.
Still, Tuesday’s losses did not totally erase the 9.5 percent gain made last Friday when Shell's shares hit an all-time high of $42.35 in intraday trading before closing at $42.05 as a rumor swirled that Royal Dutch Shell, based in The Hague, intended to buy out the remaining 22 percent of the Canadian subsidiary that it doesn't own, reported Canadaeast.com.
Acting on a request by the stock exchange yesterday to respond to the $7-billion acquisition rumors, Shell said in the report it was “not aware of any intention by Royal Dutch Shell plc to make such an offer.”
The company refused to discuss the matter further, according to the report.
Shell is a major natural gas producer and refiner in Canada with a national chain of service stations, but its prized asset is a 60 percent operating stake in the Athabasca Oil Sands Project, Canada's third major open-pit mining project in the northern Alberta oilsands.
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Critic’s corner
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
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SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
ARTICLE: Shell accused of benefiting from South African apartheid-era land law: 21 March 2013
ARTICLE: THE CAMPAIGN TO END APARTHEID: 12 Dec 2013
RELEVANT PAGES FROM "A HISTORY OF ROYAL DUTCH SHELL, VOLUME 3, PUBLISHED IN 2007. PREPARED BY SHELL'S PAID HISTORIANS. DEALS WITH SHELL'S SUPPORT FOR APARTHEID
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