Canada’s Oil Patch On Track For Biggest M&A Wave In A Decade | EN590 Commodities
EN590 Commodities GroupCrude Oil September 24, 2026
Southeast Asia Keeps Building Gas Plants Despite Hormuz LNG Shock Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. Nearly a decade ago, the Canadian Oil Patch recorded a major asset sale and consolidation wave as oil majors exited the oil sands in favor of higher margins in U.S. shale oil as well as environmental concerns amid the ESG investing craze. To wit,Shell Plc(NYSE:SHEL)soldthe majority of its oil sands interests toCanadian Natural Resources Ltd. (NYSE:CNQ) in 2017 a transaction valued at roughly $11.1 billion CAD ($8.5 billion USD), whileCenovus Energy(NYSE:CVE)acquiredmost ofConocoPhillips'(NYSE:COP) Canadian assets for C$17.7 billion (approximately US$13.2 billion). And now a similar dynamic is unfolding across Canada’s energy sector:
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