The Woodside Petroleum Limited (ASX: WPL) share price could come under pressure today after the group told investors its key offshore WA Pluto LNG-producing asset is now not expected to return to production until the end of June 2019.
Woodside blamed the additional delay on a mixed refrigeration compressor “experiencing vibration on restart”.
As a result it now expects calendar year 2019 production to be at the lower end of prior guidance between 88 million to 94 MMboe, with Pluto LNG still only contributing a relatively small amount of total production across other assets including its North West Shelf and Wheatstone LNG projects.
Woodside shares are up around 15% over the course of 2o19 thanks to rising energy prices on geopolitical uncertainty, with it expecting the “global LNG trade to double” over the next 20 years largely on the back of rising demand from energy-hungry Asian countries.
A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming. To the tune of an estimated $US22 billion.
Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.
Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.
AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.
Simply click below to learn more on how you can profit from the coming cannabis boom.
You can find Tom on Twitter @tommyr345
The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.