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Woodside Petroleum SWOT & PESTLE Analysis

ID : 528453| Jun 2018

COMPANY PROFILE -Woodside Petroleum

Business Sector :Oil & Gas

Operating Geography :Australia & NZ

About Woodside Petroleum :

Woodside Petroleum is an Australian company operating in the oil and gas industry. It was founded in 1954 and operates in end to end value chain specializing in exploration, development, production and supply. It generates around 70% of its revenue from sale of Natural Gas followed by Oil and Condensate and as approx. 3000 employees as of 2016.

Woodside Petroleum Revenue :

AU $4.49 billion (2015)

Competitive Analysis of Woodside Petroleum

SWOT
PESTLE
The SWOT Analysis for Woodside Petroleum is given below:
Strengths
Weaknesses
1. Stable performance and Credit Rating
2. Dual growth strategy
3. Increase focus on HSE (Health, Safety and Environment)
4. Exhaustive risk management framework
5. Environment and community engagement Initiatives
1. Concentrated market in Australia
2. Non-diversified business
Opportunities
Threats
1. Potential in new markets
2. Increase in global demand for natural gas
1. Volatile oil prices
2. Restart of nuclear reactors in Asia
3. Delay in existing projects
4. Exploration risk
5. Government and regulatory risks
6. Slowing Asian economy
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Detailed SWOT Analysis of Woodside Petroleum

Strength

1. Stable Performance and Credit Rating: A stable balance sheet and Cash Flow from underlying operations helped the company at a time when oil prices were down. It had a cash flow from operations of US$2,376 million and paid a dividend of US $ 109 cents a share in 2015 in a year where profit was impacted by fall in oil prices.

The credit rating of Woodside was corroborated by Moody’s in March 2016 to be Baa1 (medium investment grade). This indicates a high ability of Woodside to repay short term debt, though the outlook is negative as the oil markets are going through a rough phase.

2. Dual Growth strategy: Woodside is following a dual growth strategy of building its exploration portfolio by acquiring interests in Australasia, Sub-Saharan Africa and Atlantic margins and maturating its existing reserves. As part of its inorganic growth strategy, Woodside acquired ConocoPhillips’ interests in Senegal for US$350 million (2). Its acquisition of Apache assets in 2014 resulted in immediate increase in production in LNG sector. Woodside acquired Wheatstone, Balnaves and Kitimat interests, which increased its “Proved plus Probable” (2P) reserves increased by 276% in 2015 largely through strategic acquisitions (1).

Woodside has built a strong investment portfolio to generate future cash flows. Most of the key investments made in 2015 were focused in the exploration field with almost half the investment in drilling in Australia.

3. Increase Focus on HSE (Health, Safety and Environment): Woodside has focused heavily on Health, Safety and Environment (HSE) resulting in lowering of total recordable injury rate per million hours worked to 1.9 in 2014 to 1.71 in FY 2015. Via these measures, Woodside was also able to record an improvement of 10% in total recordable injury rate (1).

4. Exhaustive Risk Management Framework: Being in oil and natural gas sector, risks become inevitable. Woodside’s risk management framework is aligned with ISO 31000 which is the international standard for risk management. The framework covers the fields of Cyber Security Risk, Operational Risk, Loss of Containment Risk, Exploration Risk, Commercial Transaction risk, Commercialization of hydrocarbons risk, Government and regulatory risk, Market risk (1).

5. Environment and Community Engagement Initiatives: Woodside had launched initiatives for controlling marine pests (marine biofouling) on its contracted vessels. It was also awarded Western Australian Western Australian Department of Fisheries Excellence in Marine Biosecurity Award in 2014. It also was awarded “Australian Petroleum Production and Exploration Association (APPEA)” Health and Safety Awards for innovative application of remote digital video monitoring during the Pluto LNG project in 2015. It also achieved a 29% reduction in flared gas intensity that contributes to greenhouse gas emissions (1).

Woodside’s creates value in the communities by ensuring that the host communities benefit from its presence. As part of these initiatives, the company has contributed Australian $22.6 million in its community investments and staff volunteering of 6300 hours. It also founded Woodside Development Fund which focuses on programs targeting childhood development for children aged 0-8 years (1).

Weakness

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Opportunity

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Threat

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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Woodside Petroleum Analysis Report
1) Woodside Annual Report 2015-16: http://www.woodside.com.au/Investors-Media/announcements/Documents/17.02.2016%202015%20Annual%20Report.PDF

2) Woodside Agrees to Acquire ConocoPhillips’ Interests in Senegal: http://www.woodside.com.au/Investors-Media/announcements/Documents/14.07.2016%20Woodside%20Agrees %20to%20Acquire%20ConocoPhillips%20Interests%20in%20Senegal.pdf

3) Moody's confirms Woodside's Baa1 rating; outlook negative: https://www.moodys.com/research/Moodys-confirms-Woodsides-Baa1-rating-outlook-negative--PR_344762

4) Despite low oil prices and a weak medium-term outlook, LNG has a bright future: https://www.mckinseyenergyinsights.com/insights/positive-outlook-for-lng.aspx

5) Oil steady in volatile session, down 2 percent for the week: http://www.reuters.com/article/us-global-oil-idUSKCN111048

Copyrights and Disclaimer

Woodside Petroleum SWOT and PESTLE analysis has been conducted by P Goutam Prasad Rao and reviewed by senior analysts from Barakaat Consulting.

Copyright of Woodside Petroleum SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Woodside Petroleum SWOT & PESTLE Analysis
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