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Australia's Woodside Petroleum posts near 35% fall in Q4 revenue

Credit: REUTERS/DAVID GRAY

January 20, 2021 — 05:22 pm EST

Written by Shruti Sonal for Reuters ->

Jan 21 (Reuters) - Australia's Woodside Petroleum Ltd WPL.AX reported a 34.7% drop in fourth-quarter revenue on Thursday, hurt by weak realised prices for its oil and gas.

The country's largest independent gas producer said sales revenue for the quarter ended Dec. 31 fell to $920 million from $1.41 billion a year ago. However, the figure beat RBC analysts' estimate of $879 million.

Woodside produced 24.9 million barrels of oil equivalent (mmboe) during the period, down from 25.7 mmboe a year earlier.

(Reporting by Shruti Sonal in Bengaluru; Editing by Devika Syamnath)

((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26;))

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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