Royal Dutch Shell’s $US3.3 billion surprise sale of a stake in Woodside Petroleum Ltd’s
(ASX:WPL) has ignited international interest in Australia’s second largest oil and gas producer.
Speculation is mounting over who will move in on the stake, Woodside’s chairman Michael Chaney admitting it is possible BHP Billiton Ltd (ASX:BHP) could be eyeing an interest.
Yesterday Royal Dutch Shell’s subsidiary, Shell Energy Holdings, said it would sell almost a third of its interest in Woodside representing around 10 per cent of the company.
Many are tipping BHP as a potential bidder for Woodside given the global miner’s ambitions to expand its petroleum interests.
Woodside Petroleum increased its net profit to $1.06 billion in the 2010 financial year.
