Woodside Petroleum Ltd.’s sales fell by almost half in the second quarter amid falling energy prices and lower output of liquefied natural gas. Revenue at Australia’s second-biggest oil and gas producer dropped 47 percent to $898 million, the Perth-based company said Thursday. That compares with Goldman Sachs Group Inc.’s estimate of $924 million. Woodside is among liquefied natural gas producers grappling with prices in Asia that are trading near the lowest in five years. Prices for the fuel have tumbled in the past year as new supply combined with weakened demand in key markets such as Japan, Korea and China. Production last quarter was lower mainly because of maintenance at the Pluto liquefied natural gas project, the company said. “It’s a tough time to be marketing incremental LNG volumes,” Nik Burns, an analyst at UBS Group AG in Melbourne, said by phone. “There is an oversupply at the moment […]