Woodside Petroleum postpones investments in P&G sector

High oil prices are affecting all over the world. Recently, Woodside Petroleum, the largest exporter of oil and natural gas in Australia, announced that it will postpone investments of US$32 million billions in projects and maintenance work.

The decision is the result of low prices and demand in fall in the sector. According to reports, the cut was already widely expected by Investors. Most of the damage to the company’s market value occurred in February and early March, with Woodside’s share price falling more than half.

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