March 26, 2020 / 9:54 PM / 2 months ago

Australia's Woodside to cut spending, defer investment decision on Scarborough

March 27 (Reuters) - Woodside Petroleum said on Friday it would defer a final investment decision on a number of projects, including the $11 billion Scarborough project, and will cut 2020 forecast for total spending by 50%.

Australia’s top independent gas producer pointed to uncertainty from the coronavirus outbreak and oversupply of crude oil and liquefied natural gas behind its decision. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Maju Samuel)

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