Woodside Petroleum Limited
(ASX:WPL) has reported a 4.3 per cent fall in its full 2011 financial year net profit, coming in at $1.42 billion.
The company’s result was weighed down by construction delays at its $14 billion Pluto liquefied natural gas project off Western Australia’s coast.
On an underlying basis the company’s profit rose 17 per cent to $1.56 billion.
In 2011 oil production came in at 64.6 million barrels of oil equivalent and Woodside expects this to grow to up to 81million barrels of oil equivalent this year.
A final dividend of 55 US cents has been declared, bringing the full year payout to $US1.10.
