Energy giant Woodside Petroleum has lifted its first quarter revenue despite a small slide in production.
Woodside produced 23 million barrels of oil equivalent (MMBOE) during the March quarter, down 0.9 per cent on the last three months of 2013, due to lower LNG volumes from its Pluto project off the coast of Western Australia.
But, production was up five per cent compared to the same time a year ago due to the restarting of its floating production facility at its Vincent oil field, also off the WA coast.
Revenue for the three months to March was up 1.6 per cent on the previous quarter due to a 0.9 per cent rise in sales volumes resulting from higher production in the December quarter.
However, the first quarter revenue was up 15.9 per cent on the same period in 2013, at $US1.675 billion ($A1.79 billion), thanks to the higher oil volumes and better LNG prices.
