Australia's Woodside Petroleum has taken acquisitions off the agenda after pocketing $US 464.5 million from the surprise sale of 40 per cent of its Enfield oil project to Japanese trading house Mitsui.
Although Woodside had been linked to a number of possible acquisitions in recent years under previous boss John Akehurst, acting chief executive Keith Spence said proceeds from the sale would be spent on developing a $4 billion suite of new projects over the next three to five years.
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Woodside Takes In Nearly $500 Million
New managment shifts strategy for oil and gas giant...