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Woodside maintains Pluto expansion plans despite setback

Woodside maintains Pluto expansion plans despite setback

Woodside Petroleum (ASX:WPL) has reassured investors that news that two potential suppliers had pulled out of talks, and that the company’s revenue fell 40% last quarter, has not affected its expansion plans for the Pluto gas project.

The company said the Apache Corporation and Kuwait Foreign Petroleum, had discontinued discussions on processing gas through the LNG project.

But with the expansion plans now 78% complete, the project does not risk delays, Woodside added.

Meanwhile, Woodside reported that its overall revenue had fallen 40% year-on-year to $1.06 billion. Woodside attributed the result to a natural decline in oil production from several of its projects.

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Tags Woodside PetroleumOil

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