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In 100, Australia's largest oil refining concern Woodside Petroleum - EastRussia | Far East

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In 100 times, the profit of Australia's largest oil concern Woodside Petroleum

Woodside Petroleum reported a profit loss of 99% due to the oil crisis. Weak indicators call into question its projects to develop offshore oil and gas fields in the Indian Ocean

In 100 times, the profit of Australia's largest oil concern Woodside Petroleum
The net profit of the Australian oil and gas company Woodside Petroleum in 2015 amounted to 26 million dollars (36,6 million Australian dollars) against 2,41 billion dollars in 2014. Almost a hundredfold drop in profits at the country's largest private oil company is a consequence of the fall in oil prices since the middle of 2014. The company's revenue decreased by one third: from 7,08 billion dollars to 4,49 billion dollars.

The company also said that during 2015 a year, it managed to reduce the cash flow break-even threshold (cash-price of sales) from 14,3 dollars to 11,1 dollars per barrel of oil equivalent, but this did not help either straighten out financial performance or maintain the level of operating cash flow (which was reduced exactly by half, to 2,38 billion dollars), according to RBC.

The oil crisis also affected the gas business of Woodside Petroleum. First of all, we are talking about the floating terminal of the LNG "Brauz", which is being prepared for construction near the northwest coast of Australia. The joint project of Woodside and the Dutch Shell "Brauz" is designed to serve several offshore oil and gas areas with a total volume of over 430 billion cubic meters. M of gas and 453 million barrels. gas condensate. According to Woodside management, the project remains breakeven at an oil price of at least 35 dollars per barrel, so its future is now in question.