Woodside Petroleum forecasts higher annual output

Shenzi Petroleum development in the Gulf of Mexico. (Image courtesy of BHP.)

Woodside Petroleum said on Thursday it expects higher full-year annual output than 2021, as it readies to merge with BHP Group’s petroleum arm in what would create a global top 10 oil and gas company.

Australia’s top independent gas producer separately announced a non-cash impairment reversal of $582 million from its oil and gas related assets in its full-year results.

(By Savyata Mishra; Editing by Sriraj Kalluvila)

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