Woodside's Q4 Revenue Drops 8%
Australian Woodside Petroleum January 16 said its sales revenue during the three months to December 31 (Q4 2019) was down 8.1% year on year owing to lower product prices.
Company’s sales revenue during Q4 was US$1.3bn as against US$1.41bn in the corresponding quarter of last year. However, quarter on quarter, sales revenue was up 12%, Woodside said. Full-year sales revenue stood at US$4.43bn versus US$4.82bn in the year before.
Production during the quarter was 25.7mn barrels of oil equivalent, up from 24.1mn boe a year earlier. Compared with Q3, production was up 3.2%, the company said. Full-year production was 89.6mn boe as against 91.4mn boe in the previous year.
Woodside expects its 2020 output to range between 97mn and 103mn boe.