By REBECCA THURLOW
February 12, 2008
SYDNEY, Australia — Woodside Petroleum Ltd. said it has agreed to buy Royal Dutch Shell PLC’s oil assets in Australia’s North West Shelf project for US$398.5 million.
The deal will double Woodside’s share of the oil-output arm of the North West Shelf, namely the Cossack Pioneer field, which produces 80,000 barrels of oil a day.
Woodside Chief Executive Don Voelte said the acquisition will boost the company’s cash flow and earnings.
“The North West Shelf has laid a sound business platform for Woodside over two decades and we are very pleased that this transaction will further consolidate our position in the North West Shelf ventures,” Mr. Voelte said.
Woodside is the operator of the 20 billion Australian dollar (US$17.9 billion) North West Shelf joint venture and has an equal stake with partners Shell, Chevron Corp., BHP Billiton Ltd. and Japan Australia LNG, a joint venture of Mitsubishi Corp. and Mitsui & Co.
For Shell, the disposal of the assets frees the company to focus on its Australian natural-gas business, which includes the giant Gorgon gas field off the Western Australian state coast that recently won federal approval.
Shell’s North West Shelf oil assets include its share in the Cossack, Wanaea, Lambert and Hermes oil fields, including the Cossack Pioneer production facility. The sale will increase Woodside’s participating interest in these assets to 33.3%.
In a related agreement, Shell will have a “right of final offer” for Woodside’s assets in Libya should Woodside agree to proceed with a sale, Woodside said. Woodside has previously advised it is examining its options in relation to its remaining African assets, which may include further sales.
Write to Rebecca Thurlow at [email protected]
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
