WOODSIDE Petroleum chief executive Peter Coleman said 2020 has been the most difficult of his nearly 40-year career as the company plunged to a US$4.07 billion first-half loss amid the Covid-19 pandemic. The loss was a result of the company's previously announced US$4.37 billion post-tax impairment due to the recent collapse in prices and demand in the wake of the global coronavirus health crisis. "I would rate the external conditions created this year by the Covid-19 pandemic and oversup-ply in global oil and gas markets as the most difficult I've seen in nearly four decades in the industry," Coleman said. "Oil and gas prices were negatively impacted by the confluence of geopolitical dynamics, global economic uncertainty and energy demand destruction brought about by the Covid-19 pandemic."
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