MORE RESTRUCTURING UNDER WAY IN CANADA
Restructuring is still very much a way of life in the Canadian industry. Among the latest action: Shell Canada Ltd. will sell some service stations and lay off an undisclosed number of personnel as part of a rationalization of downstream operations. Gulf Canada Resources Ltd. will review nonproducing and underproducing assets as part of a restructuring program. BP Canada Inc. plans to sell leases involving about 15% of its gas reserves and 10% of its crude oil and gas liquids reserves.