https://www.engineeringnews.co.za

Production records lift Woodside revenue nearly 20%

20th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Australian oil and gas major Woodside has reported a near 20% increase in third-quarter revenue, as a number of liquid natural gas (LNG) production records were set.

The company produced 25.2-million barrels of oil equivalent during the September quarter, which is an increase of 13.5% on the previous quarter, as record quarterly LNG production was reached at the Karratha gas plant and at the Pluto LNG project, both in Western Australia.

The restart of full production at the North West Shelf facilities also boosted production, following a planned turnaround in the second quarter, and resulting in increased capacity.

“We set a number of production records this quarter, driven by excellent LNG capacity and reliability, which contributed to a 20% quarter-on-quarter revenue increase,” Woodside CEO Peter Coleman said on Thursday.

Sales volumes for the quarter were up by 20.4%, to 25.4-million barrels of oil equivalent, increasing sales volumes from A$825-million in the June quarter to A$988-million in the quarter under review.

Meanwhile, Woodside narrowed its full-year production guidance to between 92-million and 95-million barrels of oil equivalent.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.131 0.18s - 156pq - 2rq
Subscribe Now