Friday, February 3, 2012

Woodside retreats on Shell sale concern

Woodside retreats on Shell sale concern: Shares in Woodside Petroleum fell in early trading after comments overnight from Royal Dutch Shell that the European energy giant intends selling its remaining quarter stake in the company.

A key issue is whether the Shell holding will be sold in a single block, or are sold into the market, which could weigh on Woodside's the share price for some time.

Woodside shares were down as much as 30 cents, or 0.9 per cent, to $33.85 before paring the loss to be off 19 cents in recent trading.

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