Royal Dutch Shell and Mitsubishi Corporation are in preliminary discussions to sell minority stakes in their joint venture, LNG Canada, as they plan a multibillion-dollar expansion of the facility near Kitimat, British Columbia. The proposed divestment could involve up to 15% of the venture, potentially raising more than $2 billion to help finance the second phase, which aims to add two additional liquefaction trains and double current capacity by the end of the decade. Investors have shown strong interest in stable, long-term LNG cash flows, with project returns forecast at around 10% annually once operations ramp up in 2028. Shell’s shareholding in the venture currently stands at 40%, while Mitsubishi holds 25%.

Shell has formally requested Syrian authorities to transfer its 50% stake in the al-Omar oilfield back to state-owned operators, according to Syrian Petroleum Company head Youssef Qeblawi. The move follows escalating operational risks and international sanctions that have disrupted production, which peaked at roughly 25,000 barrels per day in 2010 but has since declined to under 5,000 bpd. Shell’s decision is expected to streamline its upstream portfolio by removing a non-core asset and to reduce exposure to geopolitical and compliance uncertainties in the region.

Large-cap shares of Shell underperformed the FTSE 100 on Monday as global oil benchmarks slipped on easing geopolitical tensions. Shell, which accounts for approximately 10% of the FTSE 100’s market capitalization, saw its shares edge lower by around 1%, an impact that dragged the broader index down by 0.2%. Analysts note that even modest volatility in Shell’s equity can have outsized effects on the London market, given the company’s heavy weighting and its status as a bellwether for the energy sector’s response to shifting crude fundamentals.