Slugcatcher watches the Shell shuffle and sees Australian bits falling off

SELLING Woodside and selling Australian refining and marketing assets – if you can't see the connection between these planned divestments by Royal Dutch Shell, then Slugcatcher draws your attention to a third fact; the start of a thoroughly lousy profit-reporting season for the oil industry.

If the numbers being tossed around are any guide, then Shell may harvest as much as $US10 billion from surplus Australian assets, which is a handy share of a reported sales target of $US30 billion.