Shell Inks Deal for Stake in Chevron Unit’s Angola Oil Blocks

Shell Plc signed a deal to acquire a 35% stake in two oil blocks offshore Angola from Chevron Corp.’s subsidiary in the southern African nation, the London-based energy giant said Tuesday.

Shell did not disclose the financial terms of the so-called farm-in agreement with Cabinda Gulf Oil Co. Ltd. The deal received government approval and is now pending final legal requirements, Shell said.