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Woodside posts record production as soft prices drag
- On Tuesday, Woodside Energy Group Ltd. reported a 24% slump in annual net income to $2.7 billion and announced a final dividend of 59 US cents a share, up from 53 cents.
- Softer oil and gas prices drove the profit slide, with average realised prices down 5% to $60 a barrel of oil equivalent, amid a global supply glut expected to persist in 2026, the IEA said.
- Total production rose more than 6% to a record 198.8 million barrels of oil equivalent, while unit costs dropped four per cent, boosting output after Beaumont's start and Louisiana LNG investment.
- Shareholders benefited from roughly $11 billion returned since 2022, and Woodside's stock climbed in early Sydney trade to a 17-month high of 1.5%.
- Acting Chief Executive Liz Westcott said Woodside's 2026 objectives include ramping up Beaumont, delivering Scarborough's first LNG cargo, and assessing leadership after Meg O'Neill's departure, with an announcement expected in the first quarter.
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Woodside posts smaller-than-expected annual profit; CEO update imminent
Australian oil and gas producer Woodside Energy posted a smaller-than-expected fall in annual profit on Tuesday, as robust production offset weaker realised prices, and said it expects to name a new CEO in the first quarter of 2026.
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Net zero could put Woodside in the red in five years
The nation’s biggest oil and gas producer could be running at an operating loss within half a decade, according to one scenario in modelling released alongside a 24 per cent full-year profit slump. Woodside Energy posted a $US2.7 billion ($A3.8 billion) bottom line net profit for 2025, after the impact of soft commodity prices outweighed record production and reduced unit costs. As an ongoing supply glut continues to drag on oil and gas prices, …
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Total News Sources13
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 28%
R 43%
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