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Woodside loss exceeds $4 billion but China demand keeps executives optimistic
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Oil and gas giant Woodside has recorded a loss of just over $4 billion but says the Asian market for its products is growing and it has protected a âgame-changingâ asset in its Scarborough gas field off Western Australiaâs north coast.
The companyâs share price dropped 2.85 per cent to $25.44 on the release of its 2020 full-year results on Thursday, but executives emphasised the result was due to factors beyond their control, including the pandemic and a direct hit from Tropical Cyclone Damien in February.
Woodside loss exceeds $4 billion but China demand keeps executives optimistic
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