Oil major Royal Dutch Shell said on Monday it had agreed to sell stakes in a gas project in Western Australia for $1.14 billion as part of a drive to improve return on investment, Reuters reported. Shell is selling an 8 percent stake in the Wheatstone and Iago gas fields and a 6.4 percent stake in the related Wheatstone liquefied natural gas project to the Kuwait Foreign Petroleum Exploration Company, a partner in the project. "We are making hard choices in our worldwide portfolio to improve Shell's capital efficiency," Shell's chief executive Ben van Beurden, who took over two weeks ago, said in a statement. Shell said last year that it would step up disposals "significantly" in 2014 and 2015 to keep cash flowing in.
