ninemsn.com (Australia): Woodside silent on Shell takeover talk: “Woodside Petroleum has declined to add to speculation Royal Dutch/Shell might launch another tilt at Australia's largest independent oil and gas company.”: “Nor would the Anglo-Dutch company add fuel to the rumour. "Shell does not comment on market speculation," a spokeswoman said.” (ShellNews.net) 8 April 05

Woodside Petroleum has declined to add to speculation Royal Dutch/Shell might launch another tilt at Australia's largest independent oil and gas company.

Woodside spokesman Roger Martin said the Perth-based company would not comment on rumours the international oil giant wanted to raise its 34 per cent stake in the operator of the massive North West Shelf Venture of the coast of Western Australia.

"We don't comment on market, or media, speculation," Mr Martin said.

Nor would the Anglo-Dutch company add fuel to the rumour.

"Shell does not comment on market speculation," a spokeswoman said.

In 2001 the federal government rejected a hostile bid for Woodside from Shell on the grounds it would go against the national interest.

They wanted to allow the project to be developed to its full capacity so Australia's export sales from the North West Shelf could be maximised.

Rumours of another tilt at Woodside emerged again recently, after Shell officials talked to government officials in Canberra.

This contrasts with speculation last December that Shell had added its Woodside interest to a list of assets targeted for divestment.

Topping the list of speculated buyers was the Chinese oil giant China National Offshore Oil Corp (CNOOC).

Shell chairman Jim Warren confirmed that Shell executives had visited Canberra to brief the government before an announcement was made on the Gorgon gas project.

Shell and two other multinational companies that control the Greater Gorgon gas resource simplified development of the $11 billion liquefied natural gas project with an agreement to restructure their ownership.

ChevronTexaco now has 50 per cent while ExxonMobil and Shell Development (Australia) have 25 per cent each over their leases covering the Greater Gorgon area, also off the coast of WA.

http://news.ninemsn.com.au/article.aspx?id=3473

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