Shell and Equinor to form a joint venture.

Oil and gas companies Shell and Equinor to form a joint venture to become the UK North Sea’s biggest independent producer. Financial terms were not disclosed. “Equinor has been a reliable energy partner to the UK for over 40 years, providing oil and gas, developing the offshore wind industry, and advancing decarbonisation. This transaction strengthens Equinor’s near-term cash flow, and by combining Equinor’s and Shell’s long-standing expertise and competitive assets, this new entity will play a crucial role in securing the UK’s energy supply," Philippe Mathieu, Equinor Vice President for Exploration and Production.