According to Reuters article published on January 25, 2023, Woodside Energy Group Ltd's (WDS.AX) chief executive said European winter temperatures and Chinese economic recovery are among factors clouding the near-term outlook for gas prices, which have dropped from the historic highs of last year.
Australia's biggest independent gas producer on Wednesday posted a 78% jump in fourth-quarter revenue on record output, slightly ahead of analysts' forecasts, benefiting from strong LNG prices and its takeover of BHP Group's (BHP.AX), petroleum assets, completed in June.
That puts the company on track for record profit of around $5.6 billion for 2022, showed estimates of analysts polled by Refinitiv. Forecasts for 2023, however, are for a slight fall in profit on weaker oil and gas prices.
Chief Executive Meg O'Neill said the jury is out on the outlook for liquefied natural gas (LNG) prices in the near term.
"Last year was a really exceptional year in terms of what happened in energy markets globally. The prices that we're seeing today are still well above historic norms," O'Neill said in an interview.
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Published on January 25, 2023 1:00 AM (GMT+8)Last Updated on January 25, 2023 5:36 PM (GMT+8)
