Shell to sell Australian energy interests to Kuwaiti state company - Your Middle East:
"Energy giant Royal Dutch Shell announced on Monday the sale of stakes in Australian natural gas assets for more than one billion US dollars to a Kuwaiti state company.
Shell said it had agreed to sell its 8.0-percent equity interest in the Wheatstone-Iago gas field and 6.4-percent interest in the Wheatstone liquefied natural gas project for $1.135 billion (837 million euros) to the Kuwait Foreign Petroleum Exploration Company.
Despite the sales, "Shell will remain a major player in Australia's energy industry", Shell's new chief executive officer Ben van Beurden said in a statement.
"However, we are refocusing our investment to where we can add the most value with Shell's capital and technology. We are making hard choices in our world-wide portfolio to improve Shell's capital efficiency," he added."
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