Australia's Woodside Petroleum 2006 revenue record 3.81 bln aud -UPDATE |
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Thu, 18 Jan 2007 00:43
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SYDNEY (XFN-ASIA) - Woodside Petroleum Ltd said 2006 revenue rose 38.7 pct to a record 3.810 bln aud, propelled by higher oil prices and increased production.The company, 34 pct owned by the Royal Dutch Shell, said annual production rose 12.8 pct to a record 67.9 mln barrels of oil equivalent (boe) due to new production from the Chinguetti oilfield off the coast of Mauritania and the Enfield oilfield off the north-west coast of Australia.Both projects were commissioned during the year.In November, Woodside cut its 2006 production target to 67-68 mln boe from a previous targetof 72 mln on lower output from Chinguetti and the closing of a well at the Enfield project.Woodside said in the final quarter production of 19.0 mln boe was 0.5 pct lower than the previous quarter but was up 28.1 pct on the same quarter a year earlier.Fourth quarter sales volume rose 7.5 pct from the previous quarter due to the timing of sales and was up 35.3 pct from a year earlier at 20.0 mln boe, setting a new quarterly record.Final quarter revenue fell 4.1 pct from previous quarter, reflecting lower oil prices, but was up 44.7 pct on the final quarter of 2005 at 1.098 bln aud.At 10:20 am, Sydney time, Woodside was up 0.59 aud or 1.62 pct at 36.28, helped by an overnight recovery in the oil price.(1 usd = 1.27 aud)bruce.hextall@xfn.com
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Australia's Woodside Petroleum 2006 revenue up 38.7 pct at record 3.81 bln aud 