Westpac to review financing for major Australian oil and gas projects

THE second largest bank in Australia, Westpac reported net profits falling 62% to $1.2 billion in its quarterly result yesterday, suspending its dividends due to the COVID-19 pandemic. It also announced it would assess future oil and gas investments, which comes as ASX-listed energy companies see falls of up to 60% to their share prices.

Westpac to review financing for major Australian oil and gas projects Westpac to review financing for major Australian oil and gas projects Westpac to review financing for major Australian oil and gas projects Westpac to review financing for major Australian oil and gas projects Westpac to review financing for major Australian oil and gas projects
  • FREE coverage on the rapidly developing coronavirus pandemic. Visit our COVID-19 hub.
  • Latest COVID-19 Coverage: Govt's COVID-19 Commission under scrutiny. Read more.
  • Latest COVID-19 Coverage: NT throws cash at oil and gas industry. Read more.