Australia's Woodside Petroleum posts 42% fall in third-quarter revenue

Credit: REUTERS/DAVID GRAY

Oct 22 (Reuters) - Australia's Woodside Petroleum Ltd WPL.AX posted a 42% fall in third-quarter revenue on Thursday, hurt by a drop in realised prices for its oil and gas amid coronavirus-induced lockdowns.

The country's largest independent gas producer said sales revenue for the quarter ended Sept. 30 fell to $699 million from $1.16 billion a year ago.

The company produced 25.3 million barrels of oil equivalent (mmboe) during the period, up from 24.9 mmboe a year earlier. Brokerage RBC estimated 24.5 mmboe.

(Reporting by Anushka Trivedi & Shruti Sonal in Bengaluru; Editing by Maju Samuel)

((Anushka.Trivedi@thomsonreuters.com; +918061823241;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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