23 April 2024
Shell to sell a third of its Woodside stake for $3.3 billion
Publication date: 08 November 2010
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Shell Energy Holdings Australia announced Monday it intends to reduce its shareholding in Australia’s Woodside Petroleum from 34.27% to 24.27%. Although Shell intends to keep its remaining 24.27% stake in Woodside for a year, the oil and gas major said it would sell a third of its share to improve capital efficiency and streamline, or simplify its portfolio.