February 14, 2020 / 3:14 AM / 4 days ago

BRIEF-Woodside Petroleum Annual Results Briefing Transcript From Feb 13

Feb 14 (Reuters) - Woodside Petroleum Ltd:

* EXPECTS SOFTER PRICES FOR SPOT CARGOES AS CHINESE LNG DEMAND SOFTENS DUE TO CORONAVIRUS

* IT HAS BEEN A CHALLENGING START TO 2020 WITH 2 CYCLONES INTERRUPTING PRODUCTION ALREADY

* NORTH WEST SHELF LNG SHOULD RESUME FULL PRODUCTION IN COMING DAYS

* WOODSIDE PETROLEUM SEES DIFFICULT TRADING CONDITIONS IN 2020 AS NEW PRODUCTION ENTERS MARKET & DEMAND WORKS TO SOAK IT UP

* IN 2020, CONFIDENT MARKET WILL TIGHTEN WITH COAL-TO-GAS SWITCHING IN KEY MARKETS AND SOFT PRICES

* EXPECTS LARGE INCREASE IN CAPITAL SPEND THIS YEAR DUE TO COMMENCING EXECUTION ON NUMBER OF WORK FRONTS

* WOODSIDE PETROLEUM SEES SOFTER PRICES FOR SPOT CARGOES AS CHINESE LNG DEMAND SOFTENS DUE TO CORONAVIRUS,MARKET WILL REBOUND WHEN SITUATION IMPROVES

* FINANCIAL EXPOSURE FROM CORONAVIRUS IS LIMITED AS MAJORITY OF PORTFOLIO IS SOLD ON LONG-TERM CONTRACTS Source text for Eikon: Further company coverage:

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