MARKETS

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

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 scope...

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