Woodside raising $2.5b for LNG expansion

February 14, 2018

Woodside Petroleum, which has lifted FY profit, is raising $2.5 billion for an acquisition.

Woodside Petroleum has lifted full-year profit by 18 per cent to $US1.02 billion, helped by improved market conditions and higher oil prices.

The energy giant reported a 4.1 per cent decline in revenue to $US3.91 billion for the year to December, and declared a fully-franked final dividend of US49 cents per share, same as last year.

The company has requested an immediate trading halt for its shares ahead of an announcement detailing the acquisition of the Scarborough gasfield of the Western Australian coast, and an associated capital raising.

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