AUSTRALIA'S WOODSIDE PETROLEUM REAFFIRMS OUTPUT FORCAST FOR 2009.

SYDNEY, May 1 Asia Pulse - Woodside Petroleum Ltd (ASX:WPL) says its annual profit will be lower than last year due to a softer oil price.

The oil and gas company on Friday maintained its guidance for calendar 2009 production of 81 to 86 million barrels of oil equivalent.

"In 2009 we are still targeting production of between 81 and 86 million barrels of oil equivalent, although the lower oil price inevitably means revenue, and therefore profit, will be lower than that achieved in 2008," chief executive Don Voelte told shareholders at the group's annual general meeting in Perth.

He said Woodside faces many of the external challenges this year, but its core strategy remains unchanged.

"Likewise, Woodside's values will not be affected by the current global downturn," Mr Voelte added.

He said Woodside believed, alongside forecasters, that demand for liquefied natural gas (LNG) will be underpinned by a global shift toward the use of cleaner fuel sources.

"We base our view on our own analysis of the market and our own experiences," Mr Voelte said.