January 17, 2018 / 10:51 PM / a month ago

Woodside Petroleum 4th qtr revenue slips 6.9 percent

Jan 18 (Reuters) - Woodside Petroleum Ltd, Australia’s largest independent oil and gas producer, said fourth-quarter sales revenue slipped 6.9 percent from a year earlier, as pipeline natural gas production in the North West Shelf slumped.

Production fell to 21.9 million barrels of oil equivalent (mmboe), partly due to the delay in the start-up of the Wheatstone liquefied natural gas (LNG) project, and took full year output to 84.4 mmboe, at the lower end of the company’s forecast of 84-86 mmboe.

Woodside said it expects annual production of 85-90 mmboe in 2018.

Reporting by Christina Martin in Bengaluru

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