Business
Woodside struggles with the dramatic slump in oil and gas prices – The Australian Financial Review
It’s the best of times for iron ore, the worst of times for LNG, requiring a massive write-down by Woodside Petroleum this week. But CEO Peter Coleman insists the future for gas remains bright.
So Woodside is also factoring in a $US80 ($115) a tonne carbon price for all new LNG projects, double what it projected only last November.
But the dramatic destruction of demand largely due to COVID-19, along with the decimation of prices, already mean further delays in final investment decisions for the giant $US20 billion Browse project, now put off until at least 2023, and the $US11 billion Scarborough project, now due in the second half of 2022.
Transition fuel
Coleman as CEO has also be…
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