UPDATE 1-Australia's Woodside Petroleum profit pulled down by weak oil, gas prices [Reuters]
WOODSIDE PETROL LTD S/ADR (WOPEY)
NASDAQ:AMEX Investor Relations:
woodside.com.au/investors-media/announcements/pages/announcements-currentyear.aspx
Company Research
Source: Reuters
UPDATE 1-Australia's Woodside Petroleum profit pulled down by weak oil, gas prices (Adds details on write-down, Browse project discussions) Feb 13 (Reuters) - Australia’s Woodside Petroleum Ltd reported a 24.9% drop in annual underlying profit and lowered its final dividend on Thursday, hit by lower oil and gas prices and reduced output due to maintenance downtime at its Pluto operations. Underlying profit, which excludes one-time charges, was $1.06 billion, compared with $1.42 billion a year ago. Woodside took a $720 million writedown on its undeveloped Kitimat LNG assets in western Canada, as it was unable to compete with others worldwide in a weak LNG market. Its partner Chevron Corp earlier took a $1.6 billion writedown on the project, which has been shelved. Taking into account the Kitimat asset writedown, net profit after tax fell nearly 75% to $343 million from the $1.36 billion last year. The oil and gas explorer cut its final dividend to 55 cents per share, from 91 cents it p
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