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Woodside CEO Seeks Shell Exit Decision on $6.6 Billion Stake

Extract from Bloomberg News article by James Paton Feb 20, 2014 5:53 AM GMT

Screen Shot 2013-12-22 at 19.09.52Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, pressed Royal Dutch Shell Plc (RDSA) to take action on its A$7.3 billion ($6.6 billion) stake in the company, saying investors want “certainty.” 

Shell’s move to accelerate asset sales to free cash for new projects is seen as increasing the likelihood the Anglo-Dutch company will finally divest its remaining stake in Woodside. The company is trying to win investors’ confidence after its fourth-quarter profit fell to the lowest since 2009. 

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