Rejection in Australia, Oil Spill Fire in Nigeria, Fire sale in the USA, Asbestos lawsuit in the UK
By John Donovan
AUSTRALIA
The Australian reports that a fortnight after Woodside Petroleum shareholders scuttled a $2.7 billion plan to remove Royal Dutch Shell from the company’s share register, Woodside has bought a 40% stake in a joint venture deep water exploration project off west Africa.
NORTH AMERICA
According to the FT, Shell is preparing to dispose of its 50 per cent stake in a Louisiana gasfield to Blackstone for $1.2bn, as the oil and gas group retreats from one of its souring investments in North America. Private equity group, Blackstone, is named as the likely purchaser. The article contains reference to the “fix or divest” policy of Royal Dutch Shell CEO, Ben van Beurden in relation to Shell’s under performing North American upstream business.
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