# Shell said it would buy Canada’s ARC Resources in a $16.4-billion deal that will add roughly 370,000 barrels of oil equivalent per day.

*business · news · 2026-05-03 · OilPrice*

## Key points

- Shell is acquiring ARC Resources for $16.4 billion, adding 370,000 boepd production and 2 billion barrels of reserves.
- Shell may partially sell its LNG Canada stake for $10–15 billion, with KKR, Apollo, and Blackstone interested.
- TotalEnergies, Equinor, ConocoPhillips, and BP are actively seeking Canadian acquisition targets amid renewed supermajor interest.
- Increased Asian and European interest in Canadian LNG follows Middle Eastern supply disruptions and Qatar's force majeure event.
- Pipeline capacity expansions and a more favorable Canadian government stance have shifted Big Oil's sentiment toward Canada.

**Companies:** Shell, ARC Resources, TotalEnergies, Equinor, ConocoPhillips, BP
**Countries:** Canada, Norway, Japan, United States, Qatar

[Read the full story on OilPrice](https://oilprice.com/Energy/Energy-General/Big-Oil-Begins-Return-to-Canada-amid-Energy-Crunch.html)

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