Shell significantly divests a stake of AUD 2.2 billion in Woodside

Date: 2017-11-13   Author: Shikha Sinha  Category: #industry

Shell significantly divests a stake of AUD 2.2 billion in Woodside

Royal Dutch Shell PLC has slashed its holding in Woodside Petroleum to 4.8% from 13.28%, in its latest bid to boost its non-core disposal program that aims to alter its stake from being an associate holding to an investment in securities in the latter firm.

The latest stake sale is part of a $30 Billion non-core disposal program slated to conclude over the next three years by the Anglo-Dutch oil major. For the record, Royal Dutch Shell PLC, is customarily referred as Shell, is an Anglo-Dutch oil and gas behemoth headquartered in the Netherlands.

The stake offloading is reported to raise $1.7 Billion as the company has worked out an underwriting agreement with two investment banks to sell 8.5% of Woodside net for A$31.10 per share.

Shell’s Chief Financial Officer, Jessica Uhl stated that the sale has been initiated as a part of the continuing plan to redesign the company. She further claimed the proceeds from the sale would be utilized to reduce the company’s overall debt. Shell has reportedly confirmed to not dispose any more stake in Woodside for ninety days post the completion of this sale.

For the record, Shell sold 10% of the capital of Woodside in November 2010 while retaining 24.27% interest in the company. The stake sale continued in 2014 with Shell selling approximately 9.5% issued capital of Woodside, further diluting the interest to 13.58%.

According to recent reports, Shell launched the stake sale as it felt that the influence of the firm in Woodside’s financial and operating policy decisions was on a decline.

Meanwhile, Woodside, Australia’s largest petroleum exploration and production enterprise said in a statement that the company’s strong and long-standing relationship with Shell shall continue following the divestment. It further remarked that Shell will remain a prominent joint venture partner in the North-West Shelf project and will always be a part of the company’s history.



About Author


Shikha Sinha linkdin-boxtwitter

Shikha Sinha

Shikha currently manages the content team at AlgosOnline. An electrical & electronics engineer by education, she has prior experience in content & technology writing, content marketing, market research, and business development domains. Her other interests inc...

Read More

Post Recommendents

Antenatal Screening Market Share, By Product Analysis, Application, End-Use, Regional Outlook, Competitive Strategies & Forecast up to 2028

Author: Ashwin Naphade

Global Antenatal Screening Market, 2022-2028 Research Report provides crucial statistics on the market status of the Global Antenatal Screening manufacturers and is a respected source of guidance and direction for companies and individuals interes...


Pediatric Vitrectomy Market Size | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2028

Author: Ashwin Naphade

Global Pediatric Vitrectomy market report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

The Pediatric Vitrectomy market repor...


Legionnaire Disease Testing Market Comprehensive Analysis, Share, Growth Forecast from 2022 to 2028c

Author: Ashwin Naphade

This report studies the Global Legionnaire Disease Testing market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, ...