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Shell eyes $7.4bn Woodside selldown

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ANDREW BURRELL AND PAUL GARVEY: JANUARY 02, 2014

ROYAL Dutch Shell’s new chief executive, Ben van Beurden, could move within weeks to order a sale of the oil giant’s unwanted $7.4 billion stake in Woodside Petroleum, a move likely to attract interest from some of the world’s biggest sovereign wealth funds.

More than three years after Shell sold down an initial $3.3bn stake in Woodside, speculation is building that Mr van Beurden, who formally took over from Peter Voser yesterday, will move to sell the remainder of its 23.1 per cent interest in the Perth-based oil and gas producer.

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Shareholder exit would be a relief for Coleman

PAUL GARVEY: JANUARY 02, 2014

FOR the frustrated chief executive of Woodside Petroleum, Peter Coleman, an exit from the company’s register by Royal Dutch Shell would have to be welcome news.

The departure of Shell and the end of the overhang that has been weighing on Woodside in the three years since Shell first sold a slab of its stake would finally give Coleman some clear air to sell his Woodside story to investors.

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