Shell moves to sell 900 Australian petrol stations

GLOBAL energy giant Royal Dutch Shell has revealed it wants to sell its 900 Australian petrol stations, following a 39 per cent slump in annual profits.

The oil and gas company is assessing all of its liquefied natural gas investments in Australia as it seeks to sell $17 billion worth of assets around the world.

Shell is also planning to sell its 32 Australian fuel terminals, with its Geelong refinery having been on the market since the start of last year.

The announcement comes after the company reported the massive fall in its annual profit on Thursday.

The company says it has a potential buyer for its refining and part of its marketing business here, which includes the 900 petrol stations.

Read more at ABC News Online.