Woodside's revenue fell by a third this financial year ... I have heard by word or mouth that they got rid of all the coffee machines in their head office building in the middle of Perth just to save a bit of money.
I think if they are going to such extreme measures they need cash. Selling a stake in Ceramic fuel cells will help bring a bit of liquidity. Woodside is under considerable stress now that they have plans to build another LNG processing plant in the Kimberly.
CFU Price at posting:
6.1¢ Sentiment: None Disclosure: Not Held