Shell’s divestment streak continues, shedding Woodside shares

Picking up from where it left off before stating its earnings, Royal Dutch Shell said it was taking $1.7 billion for the sale of a stake in Australia’s Woodside. Shell said early Monday it sold off 64 percent of its shares in Woodside Petroleum, leaving its Australian subsidiary with a 4.8 percent interest in the liquefied natural gas player. “This sale is another step towards the completion of our three-year $30 billion divestment program, which is an important part of our strategy to reshape Shell, to deliver a world class investment case, and to strengthen our financial framework,” Shell’s […]

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