市场见解

Why is the Woodside (ASX:WPL) share price on the slide this week?

Here’s what might be weighing on the company’s shares this week.
The post Why is the Woodside (ASX:WPL) share price on the slide this week? appeared first on The Motley Fool Australia. –

The 能源 - 伍塞德石油 (ASX: WPL) share price is struggling this week amid the company’s Scarborough Project being put back in the hot seat and slumping oil prices.

The Supreme Court of Western Australia is hearing submissions against the project’s environmental approvals.

The Conservation Council of Western Australia (CCWA) is taking aim at the state’s Environmental Protection Authority over its decision to give the project the thumbs up.

Yesterday, the Woodside share price tumbled to close 2.88% lower. It has recovered slightly today.

Right now, it’s trading 0.47% higher at $21.37.

For context, the S&P/ASX 200 Index (ASX: XJO) slipped 0.49% yesterday. Though, it’s up 0.41% today.

Let’s take a closer look at this week’s news of the oil and gas producer.

What might be driving the Woodside share price this week?

Scarborough approvals questioned in court

The Woodside share price dipped yesterday amid the beginning of a court battle over the legality of Scarborough’s environmental approvals.

The CCWA – represented by the Environmental Defenders Office ­– is arguing the environmental watchdog let the approvals be changed to allow Woodside to process more gas. It allegedly did so without assessing the impact of those changes.

The CCWA believes, in making the changes, the Western Australian Environmental Protection Agency contravened the Environmental Protection Act.

Executive director of CCWA Maggie Wood commented on the lawsuit, saying:

Unless these environmental approvals are questioned and challenged, Woodside could have free rein to produce staggering amounts of pollution, far in excess of that which they initially proposed …

We believe that all developers – but particularly developers of highly contentious fossil fuel projects – should be held to the same consistently high standards and measures.

Managing lawyer at the Environmental Defenders Office Tim Macknay said approvals such as Scarborough’s shouldn’t be “rubber stamped”:

In short, this case is simply about ensuring that projects are properly assessed for their environmental impacts and that government ministers and statutory bodies follow correct process.

The CCWA launched another case against the project’s approvals last month.

The second Supreme Court case will see it claiming approvals for the Pluto facility’s expansion, granted by the CEO of the Department of Water and Environmental Regulation, are unlawful.

Oil prices slump

Oil prices might also be partly to blame for the Woodside share price’s lacklustre performance this week.

The price of Brent crude futures slipped 2.7% on Monday, while those of West Texas Intermediate crude fell 3.7%.

According to Reuters, the dip was due to increasing concerns of Omicron breakouts around the globe.

Soaring numbers of new cases and lockdowns in parts of Europe could see demand for fossil fuel drop worldwide.

At this stage, West Texas Intermediate crude futures are back in the green on Tuesday. However, Brent crude futures are still dipping.

Woodside share price snapshot

2021 has been rough for the Woodside share price.

It has fallen 7.3% year to date. It’s also slipped more than 3% over the last 30 days.

The post Why is the Woodside (ASX:WPL) share price on the slide this week? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Woodside right now?

Before you consider Woodside, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Fed up with term deposits? How to get 10% income from ASX shares

5 things to watch on the ASX 200 on Tuesday

ASX 200 (ASX:XJO) midday update: Magellan shares crash 28%, CIMIC tumbles

5 things to watch on the ASX 200 on Monday

5 things to watch on the ASX 200 on Friday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!