Woodside Petroleum has been described by analysts at Hartleys as being "like a duck: calm on the surface... but paddling furiously" beneath the surface. Woodside's announcement that its evolutionary Pluto LNG project had started flowing gas into the processing train and was about to produce its first cargo might be more than a year late, but Hartleys said it was an impressive feat for a relatively small company to complete such a large project at such a high level of equity.
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