Report: Shell aims to sell off up to $30B in assets after profits tumble

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) will start selling up to $30B of assets (£18B) next year, including a $7B stake in Woodside Petroleum (WOPEF, WOPEY), oil assets in the Niger Delta worth $2B and other assets totaling $20B, according to oil and gas analysts from JP Morgan Cazenove.

The disposal plan could be unveiled as early as late January and would representing ~17% of Shell’s $178B total net assets, The Telegraph reports.

Weak refining margins and oil theft in Nigeria caused a sharp fall in Shell's profits this year.