Woodside Petroleum has reported a net loss of $US4.1 billion ($A5.7 billion) in the first half of 2020, despite achieving record output in the six months to December 30.
Low energy prices have caused $US4.4 billion of write-downs for Woodside Petroleum, as the company gave the markets an insight into valuations of major operations today.
Woodside Petroleum has promoted four executives in its leadership team, with Meg O'Neill to be executive vice-president of the merged marketing and developments divisions.
Woodside Petroleum's balance sheet will be in good shape to weather the COVID-19 crisis, chairman Richard Goyder said today, while continuing his calls for the economy to be reopened.
National LNG export revenue could fall by as much as 40 per cent in 2021 because of a collapse in the oil price, and the industry is unlikely to emerge as Australia's saving grace as it did during the Global Financial Crisis.
The two biggest Perth-based resources companies have furthered their interest in hydrogen, with one focused on export potential and the other investigating a more metropolitan project.
Woodside Petroleum will delay investment decisions on the Scarborough and Browse LNG developments after a big fall in oil prices amid the escalating COVID-19 pandemic, but three projects under way will continue.
BHP will hire 1,500 temporary workers across the country on six month contracts, with at least 400 to be at Western Australian iron ore operations, Business News understands, while Woodside has pledged to cut payment times for contractors.
Fortescue Metals Group chair Andrew Forrest has purchased an additional $242 million worth of shares in the company, shortly after Perth-based executives of other leading companies, including Peter Coleman, Ian Testrow and Bill Beament, also made big trades.
Woodside Petroleum and BHP have reshuffled their interests in two petroleum titles key to the Scarborough LNG project, as the companies prepare for a final investment decision this year.
Woodside Petroleum has deferred a final investment decision on the giant Browse gas project as it deals with the complexity of the planned development and unresolved commercial differences with its partners.
Drilling on phase two of the Julimar-Brunello gas development will begin this quarter as part of a US$4 billion ($5.8 billion) capital expenditure drive by Woodside Petroleum in 2020.
Woodside Petroleum is set to begin drilling for oil off the coast of Senegal, executing key contracts to begin the first phase of its $US4.2 billion ($6 billion) Sangomar project.
Woodside Petroleum has laid out plans to triple its gas and oil reserve base which will come from more than $US36 billion worth of projects in Australia, Senegal and Myanmar over the next seven years.
A price has been set for processing Scarborough field gas at the Pluto LNG facility, Woodside Petroleum and BHP announced today, the second boost for the $15 billion project in recent weeks.
Quantum computing is the next technology frontier for gas producer Woodside Petroleum, with the Perth-based business today becoming the first in Australia to join IBM's Q Network.
Australian Gas Infrastructure Group has been awarded a contract by Woodside Petroleum to build a gas pipeline connecting the Pluto LNG plant with the North West Shelf venture's nearby Karratha gas plant.
Woodside Petroleum said today its Scarborough gas project had a strengthened case for development after the company raised its reserves estimate by 52 per cent.
Premier Mark McGowan has firmly urged BHP and Chevron to reach agreements with Woodside Petroleum so the giant Browse and Scarborough gas projects can proceed.
Woodside Petroleum is priming itself to begin design work on its $30 billion Browse LNG project by the end of the year, and has reiterated its intention for a final decision on construction during the first half of 2021.
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.
Western Australia will be carbon neutral by 2050 under an aspirational policy announced by the state government today, although it is not yet clear what mechanism will be used to achieve the goal.
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.
Woodside Petroleum has awarded a contract to Netherlands-based Boskalis to undertake seabed intervention and shore crossing works for the proposed Scarborough export gas pipeline.
Woodside Petroleum has reported a 32 per cent drop in second-quarter revenue, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.
Woodside Petroleum, Curtin University, Lendlease and Qantas are among a raft of prominent organisations to join the country's big miners, major law firms and finance businesses in pledging support for the politically contentious Uluru statement.
The federal Labor opposition needs to lock down the details of its emissions policy before the impact will be clear, according to Woodside chief executive Peter Coleman, but the ability to buy international offsets will be key to keeping the cost of carbon reduction low.
Woodside Energy and the Australian Space Agency (ASA) have signed a statement of strategic intent and cooperation, which is aimed at promoting technology transfer between the space sector and the oil and gas industry.
OPINION: Industrial emissions policy in a resources state such as WA is fraught, with much of the electorate wanting action and business requiring certainty.
