Bank of Canada: Shell's merger strategy aimed at increasing reserves may be subject to scrutiny.

Analysts Biraj Borkhataria and Adnan Dhanani of Barclays Capital wrote that Shell's acquisition strategy to increase the lifespan of its oil and gas reserves could be a focus of the management and analyst conference call later on Thursday. They wrote that the UK energy giant's reserve life is currently 7.8 years, compared to 8.9 years by 2025, and is weaker than some of its peers. They wrote that the company's reserve life has decreased after selling Nigerian assets and exiting remaining oil sands positions. The stock price fell by 1.8% to 2,815 pence.