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 […]