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    WPL   AU000000WPL2

WOODSIDE PETROLEUM LTD

(WPL)
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Delayed Quote. Delayed Australian Stock Exchange - 01/24 08:19:29 pm
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Green group to challenge approval for Woodside's Pluto LNG project

11/30/2021 | 04:13am EST

Nov 30 (Reuters) - Woodside Petroleum said on Tuesday an environmental body will challenge the government's decision to approve the expansion of its Pluto LNG train on concerns of environmental harm caused by greenhouse gas emissions.

The Conservation Council of Western Australia (CCWA) will legally challenge the state's work approval for the Pluto LNG Train 2 project in the Burrup Peninsula.

The company and BHP Group recently approved $12 billion to develop the twinned Scarborough and Pluto Train 2 project, which is essential to Woodside, Australia's biggest independent oil and gas company.

Scarborough, slated to produce 8 million tonnes of LNG a year for export and 180 terajoules a day of gas for the domestic market, is expected to revive Woodside, which has had limited growth over the past several years.

CCWA says the approval was unlawful as it did not properly consider the project's environmental harm, alleging it would more than double the annual greenhouse gas emissions from the Pluto facility.

"Any additional CO2 emissions take us further beyond what is considered acceptable for a safe climate," Tim Macknay, Managing Lawyer for the Environmental Defender's Office, which is representing CCWA, said in a statement.

"(It) increases the risk of bushfires, droughts, heatwaves and other climate-related phenomena which put communities at risk," he said.

This is the second challenge to Scarborough from the CCWA, with the first being launched in December last year and set for its first hearing next month.

Woodside said it would defend its position in court.

(Reporting by Arundhati Dutta in Bengaluru; Editing by Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -1.27% 45.03 Delayed Quote.10.12%
WOODSIDE PETROLEUM LTD -3.70% 24.19 Delayed Quote.14.87%
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Financials (USD)
Sales 2021 6 705 M - -
Net income 2021 1 788 M - -
Net Debt 2021 3 415 M - -
P/E ratio 2021 9,67x
Yield 2021 5,91%
Capitalization 17 461 M 17 350 M -
EV / Sales 2021 3,11x
EV / Sales 2022 3,41x
Nbr of Employees 3 670
Free-Float -
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Number of Analysts 13
Last Close Price 17,97 $
Average target price 21,39 $
Spread / Average Target 19,0%
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Managers and Directors
Meg OĺNeill Chief Executive Officer, MD & Director
Sherry Duhe Chief Financial Officer & Executive Vice President
Richard J. B. Goyder Chairman
Shaun Gregory Chief Technology Officer & EVP-Sustainability
Fiona Hick Executive Vice President-Operations
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