WOPEF - Woodside Petroleum pushes to two-year high as court tosses Pluto challenge

Woodside Petroleum (OTCPK:WOPEF, OTCPK:WOPEY) extends its advance to two-year highs as the Supreme Court of Western Australia dismissed an environmental challenge against its projects. The company said the court waved off two challenges brought against the Environmental Protection Authority over approvals made in 2019 for Woodside's Pluto LNG and Karratha gas plant assets. Woodside's proposed Pluto Train 2 expansion, part of a $12B project, will result in annual greenhouse gas pollution equal to 15 new coal-fired power stations, the Conservation Council of Western Australia environmental group said in a report last year. Woodside recently said it swung to a full-year net profit of US$1.98B from a loss of US$4.03B in 2020, when the company absorbed US$3.92B of one-off charges. The 2021 result comes as Woodside prepares to combine with BHP's oil and gas business.

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Woodside Petroleum pushes to two-year high as court tosses Pluto challenge