Woodside’s revenue fell to $US2.97 billion in the March quarter from $US4.33 billion as the average price of oil and gas sold was crunched 25 per cent.
Woodside’s first-quarter revenue collapsed 31 per cent, missing analyst expectations, due to lower fossil fuel prices which have retreated from the staggering highs triggered by the Kremlin’s invasion of Ukraine.
Revenue fell to $US2.97 billion down from $US4.33 billion this time last year. That was substantially below the expectations of RBC Capital Markets, which forecast a result of $US3.17 billion. The average realised price was $US63 per barrel of oil equivalent in the March quarter, substantially lower than last year’s $US85 a barrel, and even the previous quarter’s $US67 a barrel. Woodside substantially profited tidily from the
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