The Globe and Mail reports in its Saturday edition that Shell Canada has agreed to buy a 30-per-cent stake in the proposed Bay du Nord oil project off the east coast of Newfoundland from Norway's Equinor, which will continue to lead the $14-billion development. A Canadian Press dispatch to The Globe says Equinor is expected to decide early next year whether it will proceed with what would be the first deepwater oil development in Canada. The news comes three months after British oil giant BP announced it had signed a deal to sell its 37.2-per-cent interest in Bay du Nord to Equinor. BP later said the sale was part of a larger strategy to simplify its global portfolio. Shell said Friday that Bay du Nord offered an established resource base and potential for longer-term growth. London's BP has a long-established presence in Canada, including a 40-per-cent stake in the LNG Canada natural gas export terminal on the West Coast, shale gas holdings in northeastern British Columbia and Alberta, refineries and fuel retail outlets. Last week, Suncor announced that U.K.-based Ithaca Energy PLC is to purchase its interest in the Terra Nova, White Rose and West White Rose Developments offshore Newfoundland for $1.2-billion cash.