Shell’s ARC Deal Seen as Win for Mark Carney’s Pro-Oil Pivot (1)

Shell Plc.’s acquisition of Canada’s ARC Resources Ltd. marks a vote of confidence in Prime Minister Mark Carney’s push to expand the nation’s hydrocarbon exports beyond the traditional US market, analysts say.

One year into his premiership, the Canadian leader’s list of projects eligible for fast-track approval includes expansion of the Shell-led LNG Canada gas export facility. Carney also has pledged to support a new oil-export pipeline from Alberta to the Pacific Coast, and to relax some environmental regulations.

Carney’s approach marks a major departure from predecessor Justin Trudeau, who sought to toughen regulations and impose caps ...