Royal Dutch Shell has sold its entire shareholding in Woodside Petroleum for $3.5 billion, after strong demand from institutional investors prompted the energy giant to upsize its previously announced sell-down.

Shell sold 111.8 million shares at a price of $31.10, representing 13.28 per cent of the issued share capital of Woodside.

This comes after Shell announced yesterday an agreement to sell an 8.5 per cent stake in Woodside for $2.2 billion.

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