Woodside Q1 output rises, cuts '09 spending f'cast - Reuters India

Profile , Research ), Australia's second-largest oil and gas producer,posted a 20 percent rise in first-quarter output on a year ago,but also cut back its spending plans amid lower global demand.

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Woodside, which is spending large amounts on theconstruction of the A$12 billion Pluto gas export project inwestern Australia, said it would cut 2009 capital expenditureby about A$600 million ($424.3 million) to around A$6.6-A$6.7billion. The Perth based producer, which operates the North WestShelf liquefied natural gas (LNG) project in western Australia,said it would shut several of the LNG production trains at theNorth West Shelf project for about a month in May and in thethird quarter for routine maintenance.

Full Story: Woodside Q1 output rises, cuts '09 spending f'cast - Reuters India