Woodside's half-year profit halves

The profit of Australia’s largest oil and gas producer Woodside halved in the first six months of 2016, weighed down by the lower oil price, but CEO Peter Coleman said on Friday that the group was in a “robust position” to improve its performance into 2017. Net profit after tax plunged to $340-million in the half-year ended June 30, with benchmark oil prices declining by 46% year-on-year in the period under review.