Wednesday, 17 August 2011 08:59
MELBOURNE: Woodside Petroleum , Australia's biggest oil and gas company, sees a strong continuing role for oil in the company's business, the firm said on Wednesday.
"I certainly do see a strong continuing role in our business for oil," Woodside's new chief executive, Peter Coleman, told reporters.
Oil contributes 36 percent of the group's revenue, a significant chunk for a company largely seen as an LNG player.
Woodside earlier topped market forecasts with a rise in first-half profit, buoyed by higher oil prices. See .
The stock rose 0.2 percent to A$37.40.
Copyright Reuters, 2011