Gas Sales Drag Down Woodside Revenue Despite Record Oil Production For 2013

Pluto LNG plant.

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.

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