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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Woodside Petroleum Ltd    WPL   AU000000WPL2

WOODSIDE PETROLEUM LTD

(WPL)
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Woodside Petroleum : Australia's Woodside CEO says Myanmar coup won't affect exploration plans

02/19/2021 | 04:08am EST

MELBOURNE, Feb 19 (Reuters) - Australia's Woodside Petroleum sees the military coup in Myanmar as "a transitionary issue" that would not affect its drilling in waters off the Southeast Asian nation, its chief executive said.

His comments came as Australia, India, Japan and the United States called for democracy to be restored quickly in Myanmar two weeks after the military overthrew the elected government of Aung San Suu Kyi.

Woodside Chief Executive Peter Coleman said the company does not see the coup holding back gas exploration work this year, including pre-engineering work for the A-6 gas field, which Woodside plans to develop with France's Total SA.

"At the moment we see this as being a transitionary issue. You've got an emerging democracy working through their processes," Coleman told Reuters.

"I look at it and say in the fullness of time the Myanmar people will work this out. At the moment the military's committed to having free elections within 12 months....We hope that that's in fact what will occur, and we'll watch this very closely."

Woodside is not facing any diplomatic pressure to pull back, Coleman said, adding it was very unlikely U.S. sanctions would get in the way of Woodside's work.

"The U.S. sanctions at the moment have been on individuals, and that's typically where the U.S. has been," he said in an interview on Thursday.

"I think Western governments are very cautious about their approach to Myanmar at the moment, understanding the more sanctions they put on the more they could drive the military government towards the Chinese and others to look for support."

Hundreds of thousands of people have been taking to the streets almost daily across Myanmar demanding a reversal of the Feb. 1 coup. Police have broken up the demonstrations and one protester shot in the head last week died on Friday.

Many protesters are calling for a boycott on companies that do business with the military. Coleman said Woodside has not been a target of any protests.

(Reporting by Sonali Paul; Editing by Kim Coghill)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TOTAL SE -0.13% 40.92 Real-time Quote.16.08%
WOODSIDE PETROLEUM LTD 0.79% 25.66 End-of-day quote.12.84%
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Financials
Sales 2021 5 653 M 4 328 M 4 328 M
Net income 2021 1 295 M 992 M 992 M
Net Debt 2021 5 246 M 4 017 M 4 017 M
P/E ratio 2021 20,5x
Yield 2021 4,03%
Capitalization 24 691 M 18 949 M 18 903 M
EV / Sales 2021 5,30x
EV / Sales 2022 5,75x
Nbr of Employees 3 670
Free-Float 99,8%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 28,42 AUD
Last Close Price 25,66 AUD
Spread / Highest target 55,9%
Spread / Average Target 10,7%
Spread / Lowest Target -17,0%
EPS Revisions
Managers and Directors
NameTitle
Peter John Coleman Chief Executive Officer, Executive Director & MD
Sherry Duhe Chief Financial Officer & Executive Vice President
Richard J. B. Goyder Chairman
Shaun Gregory Chief Technology Officer & EVP-Sustainability
Fiona Hick Senior Vice President-Operations
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