Woodside has decided to reduce its total expenditure for 2020 by 50% in response to global uncertainty, which is almost certain to impact final investment decisions for several projects.
This follows the worldwide financial consequences of the COVID-19 crisis and the oversupply of crude oil and LNG, which has crashed prices.
Woodside said it is taking a prudent approach to cash flow management, given the considerable uncertainty in the near-term investment environment and the...