Business
Woodside Petroleum posts multibillion-dollar loss due to COVID-19 – NEWS.com.au
Woodside Petroleum posts multibillion-dollar loss due to coronavirus pandemic
Woodside Petroleum has posted a multibillion-dollar loss as tanking oil and gas prices spurred on by the coronavirus pandemic caused financial ruptures across the sector. The West Australian resources company booked a net loss after tax of $US4.1 billion ($A5.71 billion) for the six month to June 30, with the haemorrhage predominantly from impairment charges that devalued the company’s assets by $US3.92 billion ($A5.46 billion).
The asset writedowns were due to the impacts of COVID-19 that caus…
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