Woodside Quarterly Sales Drop 9% Amid Declining Energy Prices
- Narrows 2016 output guidance to 92-95m barrels oil equivalent
- Output little changed at 25.2m barrels of oil equivalent
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Woodside Petroleum Ltd., the Australian oil and gas producer, posted a 9 percent drop in third-quarter revenue amid the worst energy price slump in a generation.
Sales slid to $988 million from $1.09 billion a year earlier, the Perth-based company said Thursday in a . Output was little changed at 25.2 million barrels of oil equivalent. The producer narrowed its 2016 production guidance to a range of 92 million to 95 million barrels of oil equivalent from the previous band of 90 million to 95 million barrels.