Chevron’s Canada unit plans to sell its stakes in oil sands and shale assets to Canadian Natural Resources for $6.5 billion as part of efforts to achieve divesting goal by 2028.

Bennett Jones is representing Canadian Natural Resources, which cements its dominant position in Canada's energy market with the acquisition from the U.S.-based energy giant.

Under this agreement, Chevron Canada Limited will sell its 20% non-operated interest in the Athabasca Oil Sands Project and its 70% operated interest in the Duvernay shale, along with other related interests situated in Alberta,