Business Services Industry
Woodside finds cost savings of $200m.
Australasian Business Intelligence, May, 2003
May 07, 2003 (The Australian Financial Review - ABIX via COMTEX)
Australia's Woodside Petroleum expects to save almost $A200 million by mid-2005. Such a saving would be a boon, given the company's falling output of crude oil. The cuts come in the Woodside-operated North-West Shelf gas field and on capital expenditure on development projects. Investors welcomed the news on 7 May 2003, adding $A0.12 to Woodside's share price, which closed at $A11.46. The biggest operational cost savings will flow from the shedding of 300 jobs, mainly at the North-West Shelf project.
Publication Date: 8 May 2003
WOODSIDE PETROLEUM LIMITED - ASX WPL:
NORTH WEST SHELF GAS PTY LTD
By Ian Howarth
All copyright subsisting under the Copyright Act...
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