Woodside Petroleum’s annual sales didn’t match its record oil production for 2013.
Revenue was dragged down by a higher proportion of gas volumes sold in 2013, resulting in lower average prices.
In its quarterly report, Woodside said annual oil production was up 2.5 per cent in 2013 to a record 87 million barrels of oil.
For the full calendar year, sales revenue of USD 5.776 billion was down more than 7 per cent compared to USD 6.222 billion in 2012.
However, sales revenue for the quarter 23.2 per cent to USD $1.648 billion.