By Alexander Kwiatkowski
Oct. 11 (Bloomberg) — Royal Dutch Shell Plc’s nominated director on the board of Woodside Petroleum Ltd., Australia’s second-largest oil and natural-gas producer, resigned with immediate effect.
Shell, which has a 34 percent stake in Woodside, expects to nominate a replacement for Russell Caplan in coming weeks, Perth- based Woodside said today in an e-mailed statement. Caplan, who is chairman of Shell in Australia, stepped down to focus on the company’s operations in the region, Shell said in a separate statement.
“Shell has become increasingly active in Australian LNG and gas projects as well as exploration activities,” according to the statement.
Before the announcement was made, Woodside shares closed up 3.9 percent at A$54.41 in Sydney. The stock has gained 43 percent this year, valuing the company at A$37.5 billion ($33.8 billion.)
To contact the reporter on this story: Alexander Kwiatkowski in London at [email protected]
Last Updated: October 11, 2007 12:48 EDT
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