AGL writedowns hit $808M

AGL Energy is getting out of the oil business and dramatically scaling back its domestic gas interests with a further $435 million pre-tax writedown revealed in this morning's comprehensive review of its upstream gas business.

AGL writedowns hit $808M AGL writedowns hit $808M AGL writedowns hit $808M AGL writedowns hit $808M AGL writedowns hit $808M

The smaller, less ambitions upstream plan will see AGL aiming producing just 20% of its gas requirements in the next decade, assuming Gloucester goes ahead, well below its former target of around 50%

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