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Australia’s Woodside (WPL) to invest $3.6bn in new energy

By Mensholong Lepcha

07:46, 8 December 2021

Woodside Petroleum logo
The investment will add to the company’s recently announced hydrogen production projects in the US and Australia – Photo: Shutterstock

Australian energy major Woodside Petroleum closed over 2% higher on Wednesday after the company announced that it aims to invest AUD5bn ($3.6bn) in new energy markets by 2030.

Woodside chief executive Meg O’Neill said the investment will help Woodside emerge as “an early mover” in the new energy market, even though the company expects liquified natural gas to remain an important part of the energy mix.

The multibillion-dollar investment will add to the company’s recently announced hydrogen production projects in the US and Australia.

Hydrogen production projects

On Tuesday, Woodside said it secured land in Oklahoma, US for the construction of a facility, which will use electrolysis to produce up to 90 tonnes per day of liquid hydrogen for the heavy transport sector.

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Woodside added that it is progressing similar land acquisition opportunities in the US.

“We have a vision to build a low cost, lower carbon, profitable, resilient and diversified portfolio. Woodside aims to do this by leveraging our world-class Tier 1 portfolio and allocating capital to the right opportunities at the right time,” O’Neill said on Wednesday.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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