Woodside Finalizes Gas Deal with Uniper
Oil and gas producer Woodside Petroleum Ltd said on Tuesday it has signed an agreement to supply liquefied natural gas (LNG) to German utility Uniper SE for 13 years starting 2021.Under the agreement, Woodside said it would initially supply up to 0.5 million tonnes per annum (Mtpa) of LNG, which could increase to 1 Mtpa from 2025.However, supply from 2025 remains conditional upon a final investment decision related to the company's Scarborough project off northwestern Australia.Woodside is looking to develop Scarborough to feed a new 5 Mtpa production unit, called a train, at its Pluto LNG plant in West
Woodside Sees Reserve Base Tripling
Australia's Woodside Petroleum on Tuesday laid out plans to triple its gas and oil reserve base as it pursues projects worth over $36 billion in Australia, Senegal and Myanmar.Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, it said."We believe we now have a compelling growth story," Woodside Chief Executive Peter Coleman told an analysts briefing in Sydney.Coleman's comments highlight Woodside's bullish view as crunch time approaches on major projects.
Woodside Looks to Sell Gas Assets
Australian oil and gas producer Woodside is seeking to reduce its stakes in the Scarborough gas field at home and in Canada's Kitimat liquefied natural gas (LNG) project to cut its capital exposure, its chief executive told Reuters on Tuesday.The comments by CEO Peter Coleman came after speculation Saudi Aramco could be interested in Scarborough, a gas resource that, once developed, would feed into and expand Woodside's Pluto LNG production and export facility.Woodside holds a 75% stake in the Scarborough gas field and 50% of the Kitimat project in Canada…
Woodside H1 Profit Slumps
Woodside Petroleum flagged a challenging near-term outlook on Thursday as it grapples to win over its partners to back $34 billion worth of new oil and gas projects amid a souring global environment.Australia's biggest independent oil and gas producer reported a worse than expected 23% drop in first-half profit, hurt by extended maintenance at its Pluto LNG plant, which took longer than planned.Its shares fell as much as 7% to a seven-month low, buffeted by a sharp fall in oil prices…
Woodside Inks LNG Supply Deal with ENN
Australia's Woodside Petroleum WPL.AX has signed a Heads of Agreement (HOA) to supply liquefied natural gas (LNG) to China's ENN Group for 10 years from 2025, both companies said on Friday.Woodside, Australia's biggest listed oil and gas explorer, said in a statement the volume covered by the HOA is 1 million tonnes per annum (mtpa), to be sourced from Woodside's portfolio of gas supply. Signed at the LNG 2019 conference in Shanghai, the HOA follows a cooperation agreement sealed last October.ENN is aiming to increase its market share in China's gas distribution and retailing sector…
Woodside Raises Dividend
Australia's Woodside Petroleum Ltd surprised investors with a fat dividend on Thursday after reporting a 36-percent percent rise in annual profit, underpinned by stronger oil prices.The higher-than-expected payout came after shareholders stumped up $2.5 billion to buy new shares a year ago at a time when Australia's biggest independent oil and gas producer expected oil prices to average $65 a barrel.By the end of the year it was flush with cash as oil prices had averaged $71 and the Wheatstone liquefied natural gas (LNG) project…
Woodside Boosts Spending for Next Leg of Growth
Australia's Woodside Petroleum Ltd on Thursday flagged higher-than-expected investment spending for 2019 as it steps up early work on the two big natural gas developments that will drive its growth in the next decade.Australia's largest independent gas and oil producer plans to spend between $1.6 billion and $1.7 billion in 2019 on projects, significantly higher than an estimate from UBS of $1.2 billion.At the same time it is roughly halving exploration spending from $273 million last…
Expected LNG Surplus Evaporates, New Projects Looming
Liquefied natural gas (LNG) producers around the globe are once again considering new investments as expectations of a glut in supply wither away in the face of strong, China-led demand growth in Asia. Given it takes several years to go from a Final Investment Decision (FID) to producing cargoes of the super-chilled fuel, however, the industry may be acting too late to prevent a supply shortfall by the middle of next decade. Much of the focus this week at an annual oil and gas conference…
LNG Heats Up Again as Market Changes: Russell
If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence. Global majors Exxon Mobil and Total are considering plans to double LNG exports from Papua New Guinea to about 16 million tonnes per annum, their partner Oil Search said on Feb. 20. If approved, three new trains would be added to the existing Exxon-operated PNG LNG facility, with natural gas from Total's fields supplying two of the units and the third using existing fields and a new Exxon development.
Pluto Production Restarts
Woodside advises that it has successfully restarted production at its Pluto LNG Plant. This follows the precautionary action to shut-in production after a submersible drilling rig under contract to another party drifted near Pluto flowlines, as announced to the ASX on Monday, 16 March 2015. The 2015 production target range of 84 to 91 MMboe remains unchanged.
Pluto Production Shut-in
Woodside has been forced to temporarily shut-in production at its Pluto LNG Plant. This precautionary action was taken after a submersible drilling rig under contract to another party drifted near Pluto flowlines. Underwater inspections have confirmed the integrity of the flowlines. Production will be restarted when the rig has been relocated away from Pluto infrastructure. Further advice on the recommencement of production will be provided in due course. woodside.com.au/Investors-Media
