Woodside flags US$3.92 billion in impairments

WOODSIDE Petroleum told the market late yesterday it had reviewed its expects post-tax impairment losses amounting to US$3.92 billion (A$5.6 billion) based largely on lower oil and gas prices, which it now expects to be US$65 per barrel, not $80/bbl by 2025. 

Woodside flags US$3.92 billion in impairments Woodside flags US$3.92 billion in impairments Woodside flags US$3.92 billion in impairments Woodside flags US$3.92 billion in impairments Woodside flags US$3.92 billion in impairments
Some form of writedown had been expected though few watching believed Woodside would follow European supermajors Shell or BP, given its own climate targets are somewhat different and do not take in
  • FREE coverage of the coronavirus pandemic. Visit our COVID-19 hub
  • NEW: 2020 Social Licence Report - where is the industry heading? Read more
  • EMAGAZINE: ENB's latest special print edition is now online. Read here