Woodside Energy Group Ltd

Woodside Energy Capital Markets Day 2026

Woodside Energy outlined its Capital Markets Day 2026 strategy, targeting a 12-15% return on average capital employed by the mid-2030s under a new capital framework. The company introduced a distribution policy of 20-40% of adjusted operating cash flow, prioritizing a 20% base dividend with up to 20% more available for additional dividends or buybacks, and is targeting US$400 million in annual structural cost reductions from 2028. Growth projects underpin the plan: Scarborough is 99% complete with first LNG cargo this year, Trion targets first oil in 2028, and Louisiana LNG first LNG in 2029, together supporting >30% sales volume growth to ~280 MMboe by 2032 and over US$40 billion of adjusted operating cash flow from 2027-2032. Woodside also set a 2035 net equity Scope 1 and 2 GHG emissions intensity target 30% below its 2025 baseline of 33.3 kg CO2-e/boe.

•4d ago

Woodside Signs 20-Year LNG Supply Agreement With QatarEnergy

Woodside signed a 20-year sale and purchase agreement with QatarEnergy for up to 3 million tonnes per annum of LNG from its Louisiana LNG Project. Supply begins free-on-board at start-up of Train 2, rising to 3 Mtpa once Train 3 starts; the project near Lake Charles has three trains totaling 16.5 Mtpa and is targeting first LNG in 2029. Combined with the previously announced Uniper agreement, the deal provides revenue certainty for a material portion of Louisiana LNG production and de-risks the project toward final ramp-up.

•10d ago

Woodside and PEMEX Sign MOU to Expand Strategic Partnership in Mexico

Woodside Energy signed a non-binding Memorandum of Understanding with Mexico's state oil company PEMEX to analyze potential future hydrocarbon exploration and extraction opportunities in the deep waters of the Gulf of Mexico, along with mutual exchange of technical knowledge. The MOU deepens the partners' existing joint development of the Trion Oil Project, which was 64% complete as of 30 June 2026, carries a forecast total capital investment of US$7.2 billion, and targets first oil in 2028 as Mexico's first ultra-deepwater development. Woodside holds a 60% participating interest in Trion and operates the project, with PEMEX holding the remaining 40%. Because the MOU is non-binding, it carries no immediate financial commitment but positions Woodside for follow-on opportunities in Mexico's ultra-deepwater.

•2mo ago

Woodside Energy Half-Year Report for Period Ended 30 June 2026

Woodside Energy delivered a resilient first half performance with operating revenue increasing 13% to $7.45 billion, driven by higher average realized prices and strong marketing activity. Free cash flow surged 159% to $352 million, enabling the board to declare an 8% increase in the interim dividend to 57 US cents per share, fully franked. Major growth projects remain on track, with the Scarborough Energy Project now 98% complete and targeting first LNG cargo in the fourth quarter of 2026, while the Trion project offshore Mexico reached 64% completion.

•2mo ago

Woodside Rationalises Global Portfolio With Calypso Divestment

Woodside has agreed to sell its 70% operated interest in the Calypso Project in Trinidad and Tobago to bp. The transaction, comprising cash and contingent payments, is expected to close by the end of 2026, marking the conclusion of Woodside's operations in the country. CEO Liz Westcott stated the divestment simplifies the global portfolio and supports disciplined capital allocation to high-value opportunities.

•3mo ago

Woodside Energy Second Quarter Report for Period Ended 30 June 2026

Woodside reported Q2 operating revenue of $4.19 billion, up 28% year-on-year, fueled by a 35% jump in realized prices to $85/boe, which offset a 9% sequential decline in production to 41.3 MMboe due to planned maintenance and cyclone impacts. Major growth projects remain on schedule, with Scarborough 98% complete and achieving first gas post-period, while the Trion project advanced to 64% complete. The company exercised pre-emption rights to acquire a 10.67% stake in the Browse Joint Venture from PetroChina for $225 million and narrowed its full-year production guidance to 174-185 MMboe.

•3mo ago

Woodside Energy AGM Address by Chair Richard Goyder and CEO Liz Westcott

Woodside's 2026 AGM highlighted a successful leadership transition to new CEO Liz Westcott and record 2025 production that exceeded full-year guidance. The company reported significant progress on major growth projects, including the Scarborough Energy Project targeting first LNG cargo in Q4 and the Louisiana LNG project targeting first LNG in 2029. Sustainability efforts improved, with actual Scope 1 and 2 emissions reduced despite higher production, while the company returned strong value to shareholders.

•6mo ago