Wood­side still up

Mercury (Hobart) - - BUSINESS -

8.9 WOOD­SIDE Pe­tro­leum shares have climbed de­spite the en­ergy heavy­weight flag­ging that its pro­duc­tion this year is likely to be at the lower end of its pre­vi­ous fore­cast. The oil and gas com­pany said it was “ex­tend­ing” turn­around ac­tiv­ity at its Pluto liq­ue­fied nat­u­ral gas plant, off the coast of Western Aus­tralia. Af­ter the de­lays, pro­duc­tion was ex­pected to re­sume at the plant by the end of this month. The com­pany said it had bought sup­plies from other com­pa­nies to meet obli­ga­tions to cus­tomers. Wood­side shares climbed 1.5 per cent to $35.15 yes­ter­day. They are up 12.2 per cent so far this year.

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