Print Edition - 2017-04-21  |  Money Digest

Woodside posts solid quarterly results

- Xinhua, SYDNEY

Apr 21, 2017-Australia’s Woodside Petroleum on Thursday announced solid quarterly production results despite the production and shipment halt caused by extreme weather conditions throughout the quarter. Woodside said that they were able to maintain 90 percent production even though there was a “once in 50 year rainfall event” at one of their LNG facilities, and 21 days of “tropical system weather impacts,” well above their expected average downtime of 13 days. The gas giant also announced the progress of their operations in Myanmar and Senegal, with Woodside chief executive Peter Coleman stressing that progress is underway. CMC Markets’ chief market analyst Ric Spooner said the downswing in the price was not predicated by their quarterly report. 

Published: 21-04-2017 09:05

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