Woodside: Result 2014

The carnage in oil markets hasn’t yet been reflected in Woodside Petroleum’s full-year results.

With the oil price halving, you might have thought that Woodside Petroleum’s full-year results would suffer; yet underlying net profits soared 42% to US$2.4bn as volumes and prices rose. Over 90% of revenue comes from LNG projects which are impacted by oil price movements after lags as long as 12 months. Lower prices will make a dent to profits, but not this year.

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