In a move that might be indicative of flagging international confidence in the Canadian Oil sands, Shell has announced it will exit most of its oil extraction projects in Alberta. The petroleum giant plans to sell its 60 percent holding in Athabasca Oil Sands Project (AOSP) to Canadian Natural Resources Limited, one of its partners. The sale will also include its assets at the Peace River Complex and a number of other undeveloped oilsands leases. In another deal, both Shell and CNR will purchase petroleum producer, Marathon Oil Canada, which owns a 20 percent stake in the AOSP.

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