Shell and Equinor join forces to create major North Sea energy venture
Shell and Norwegian energy firm Equinor have unveiled plans to merge their offshore oil and gas businesses in the UK sector of the North Sea, marking a significant step in the energy sector. The joint venture, which will be owned equally by both companies, aims to strengthen energy security and continue fossil fuel production, navigating the UK's evolving energy landscape. The new entity, based in Aberdeen, Scotland, is set to become the largest independent oil and gas producer in the UK North Sea once the merger is completed, probably by the end of next year, pending the regulatory approval. Shell…