Fed: Costello says Woodside decision based on long term prospect

AAP General News (Australia)
04-24-2001
Fed: Costello says Woodside decision based on long term prospect

CANBERRA, April 24 AAP - Federal Treasurer Peter Costello said today his decision on
Royal Dutch/Shell's bid for Woodside Petroleum Ltd was based on the long-term prospects
for the North West Shelf.

Mr Costello yesterday knocked back Shell's $10 billion bid for the Australian energy giant.

"The decision I made was solely based on what would be in Australia's best interest
for decades, not for five minutes for 15 minutes but for decades," he told ABC Radio.

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KEYWORD: WOODSIDE COSTELLO

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