home Latest News Australia's Woodside Petroleum 2018 profit up, raises dividend – Reuters Africa

Australia's Woodside Petroleum 2018 profit up, raises dividend – Reuters Africa

This post was originally published on this site

Feb 14 (Reuters) – Australia’s Woodside Petroleum Ltd on Thursday reported a 30 percent rise in annual net profit underpinned by higher oil and gas prices and the ramp-up of the Wheatstone project.

The country’s top oil and gas producer posted a net profit of $1.36 billion for 2018, up from $1.07 billion last year, but lower than analysts’ estimate of $1.45 billion according to Refinitiv.

Woodside raised its full-year dividend by 86 percent to 91 cents per share. (Reporting by Nikhil Kurian Nainan and Aditya Soni in Bengaluru Editing by Susan Thomas)