- Shell (RDS.A) has agreed to sell holdings in natural-gas projects in Western Australia to the Kuwait Foreign Petroleum Exploration Company for $1.135B.
- Shell is divesting an 8% interest in the Wheatstone and Iago gas fields and a 6.4% stake in the related Wheatstone liquefied natural gas project.
- The transactions are part of Shell's efforts to improve "capital efficiency," and come after the company said last year that it would "significantly" increase asset sales in 2014 and 2015.
- The deals also follow Shell issuing a profit warning last week. (PR)
Shell to sell assets in Western Australia for $1.1B
Jan 20 2014, 04:33 ET