Woodside Q2 Revenue Drops

Woodside Petroleum’s revenue for the three months to June (Q2 2019) was down 32% year-on-year owing to an extended planned maintenance schedule at its Pluto LNG plant, it said July 18.

Revenue fell to US$738mn from US$1.08bn in the corresponding quarter of the previous year. Production for the quarter fell to 17.3mn barrels of oil equivalent from 22.1mn boe from a year ago. 

Last month, Woodside extended planned maintenance schedule at its Pluto LNG plant owing to technical issues during the restart. Due to the turnaround extension, the company expects its 2019 production to be at the lower end of the 88 – 94mn boe guidance range, it said last month.