Woodside Petroleum Limited
(ASX:WPL) has reported a 39 per cent slump in net profit on the back of weak oil and LNG prices.
The oil and gas giant reported a net profit after tax of $US679 million in the six months to June 30.
The company’s revenues were also down 28 per cent on the previous corresponding period to $2.56 billion.
In June 2014, the price of oil was around $US112 a barrel, it now sits just above the $US40 a barrel mark.
Woodside has slashed its interim dividend from $US1.11 to 66 US cents.
