Shell sells entire Woodside stake

LONDON: Royal Dutch Shell on Monday said it had sold its minority holding in Woodside Petroleum, bringing it a step closer to its target of selling US$30 billion (RM126 billion) of non-core assets. Owing to “strong demand from institutional investors”, it said it had offloaded the entirety of its 13.28-per cent stake, just hours after it announced that it had decided to sell 8.5 per cent of Woodside. By totally exiting the Australian group, Shell had earned itself a pretax amount of US$2.7 billion, said a statement. Agencies