Woodside Petroleum expects to reduce its stakes in Australia's Scarborough gas field and Canada's Kitimat liquefied natural gas project, which would help it reduce its capital expenditure, its chief executive told Reuters.
Strike Energy shares have surged 90 per cent and Warrego Energy’s by 68 per cent after the joint venture partners announced a significant gas discovery as part of the West Erregulla-2 drilling campaign in the Perth Basin.
A move to reactivate a dividend reinvestment plan and a $US 1.5 billion debt deal should be read as a sign Woodside Petroleum is confident that its Browse and Scarborough projects are moving forward, chief executive Peter Coleman said.
SPECIAL REPORT: An alliance between two big unions will put pressure on oil and gas contractors at a time when many enterprise agreements reach their expiry and a big projects are set to get under way.
SPECIAL REPORT: Business News spoke to green advocates to explore how the petroleum industry might find common cause with the environmental movement, as pressure builds on billions of dollars of projects.