Shell offloads $5bn of Australian petroleum shares

Energy giant Shell is cutting its stake in Australia’s Woodside Petroleum in a sale worth around $5 billion (£2.9bn). It will sell around 156.5 million shares, reducing the company’s holding from 23.1% to 4.5% as it aims to focus its “Australian growth in directly owned assets”. Ben van Beurden, Shell Chief Executive Officer said: “It […]

Shell sells Australian LNG stakes for $1.1bn

Oil giant Shell is selling its interests in a Liquefied Natural Gas (LNG) project in Australia for $1.14 billion (£694m). It has agreed to sell an 8% stake in the Wheatstone-Iago joint venture along with its 6.4% interest in the Wheatstone LNG project to the Kuwait Foreign Petroleum Exploration Company (KUFPEC). Ben van Beurden, Chief […]