Shell’s Australian investments are in the spotlight after the company offloaded its holdings in a major gas project in Western Australia. Shell announced Monday it is selling an 8 percent stake in the Wheatstone-Iago joint venture gas fields, and also a 6.4 percent holding in the Wheatstone gas project to Kuwait’s Foreign Petroleum Exploration Co. for $1.3 billion. “Shell will remain a major player in Australia’s energy industry. However, we are refocusing our investment to where we can add the most value with Shell’s capital and technology,” said Shell Chief Executive Officer Ben van Beurden, in a statement announcing the Wheatstone sale. “We are making hard choices in our worldwide portfolio to improve Shell’s capital efficiency.” The move follows Shell’s announcement of earnings Friday for the quarter that ended Dec. 31 of $2.9 billion, almost $1 billion less than market expectations. Other Shell assets […]