Woodsides Posts $US1.1b Profit

Woodside Petroleum has increased half-year net profit by 27 per cent and says it is confident about gas demand despite a large number of new projects coming online.

Woodside’s net profit for the six months to June 30 was $1.1 billion.

The largest company in Australia dedicated only to oil and gas production said the result was driven by higher prices, sales volumes and lower exploration and evaluation expenses.

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