Woodside Petroleum revenue jumps despite fall in output

WOODSIDE Petroleum has reported a 20 per cent gain in full-year revenue as rising oil and gas prices, and the renegotiation of North West Shelf liquefied natural gas contracts, offset a drop in production.
In its fourth-quarter report yesterday, Woodside logged $US1.058 billion ($1.055bn) of sales, in line with expectations and just up on the previous quarter's $US1.033bn. Full-year revenue was $US4.193bn, up from $US3.487bn in 2009, despite a 10 per cent drop in full-year sales volumes to 72.7 million barrels of oil equivalent.
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Source: The Australian