Woodside Petroleum Limited (ASX:WPL) has reached a settlement with two unions that should suspend $1 million of fines on the terms that unions don’t strike at the Pluto, Browse and the North-West Shelf venture’s site near Karratha.
The agreement brings hope that negotiations with LNG customers for the projects will run more smoothly, as they reduce Woodside’s risks.
Meanwhile, the federal government recently excluded the site of Woodside’s proposed $30 billion LNG hub at James Price Point in Western Australia from the national heritage list.
In the first half of the 2011 financial year Woodside Petroleum reported a net profit of $772 million.
