Shell and Equinor Form UK's Largest Independent Oil & Gas Firm

Shell and Equinor have announced plans to merge their British offshore oil and gas assets to form the UK's largest independent oil and gas company. The joint venture, based in Aberdeen, Scotland, aims to enhance energy security and sustain fossil fuel production in the UK. Expected to produce over 140,000 barrels of oil equivalent per day by 2025, the deal is set to be completed by the end of next year, pending approvals. This move is part of a balanced energy transition strategy, ensuring a secure energy supply for the UK.