Shell announced Monday it is selling its eight percent stake in the Wheatstone-Iago joint venture and its 6.4 percent interest in the Wheatstone liquefied natural gas project.
Shell CEO Ben van Beurden says in a statement the company is "making hard choices in our world-wide portfolio to improve Shell's capital efficiency."
The state-run Kuwaiti company already is a partner in the Wheatstone joint venture.
Last Friday, Shell warned that its fourth-quarter profit will be worse than most analysts expected due to lower production higher costs and a worse performance by its refining division.
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