Woodside Reports $2.7 Billion Profit on Record 198.8 MMboe Production

Strong Operational and Financial Performance

Woodside Energy Group Ltd delivered a robust performance in 2025, marked by record production volumes and solid financial results. The company produced 198.8 million barrels of oil equivalent (MMboe), surpassing previous years, driven by outstanding output from the Sangomar Project in Senegal and sustained reliability across its LNG assets. Despite a 1% decrease in operating revenue to US$12.98 billion, Woodside maintained an EBITDA excluding impairment of US$9.28 billion, reflecting disciplined cost management and operational efficiency.

Net profit after tax (NPAT) attributable to shareholders declined 24% to US$2.7 billion, influenced by lower commodity prices and divestment activities. The Board declared a fully franked final dividend of 59 US cents per share, culminating in a full-year dividend of 112 US cents per share, underscoring Woodside’s commitment to shareholder returns.

Advancing Major LNG and Ammonia Projects

2025 was a pivotal year for Woodside’s growth strategy, with significant progress on major projects. The company took the final investment decision (FID) on the Louisiana LNG Project in April, positioning Woodside as a global LNG powerhouse. Strategic partnerships with Stonepeak and Williams reduced Woodside’s capital exposure and brought complementary expertise to the project, which was 22% complete by year-end and targets first LNG cargo in 2029.

The Scarborough Energy Project in Western Australia reached 94% completion, on track for its first LNG cargo in late 2026. Meanwhile, the Beaumont New Ammonia Project commenced production in December 2025, marking Woodside’s entry into lower-carbon ammonia, with full production targeted for the second half of 2026. The Trion oil project in Mexico achieved 50% completion, aiming for first oil in 2028.

Sustainability and Emissions Reduction

Woodside met its 2025 net equity Scope 1 and 2 greenhouse gas emissions reduction target of 15% below the 2016–2020 baseline, a milestone reflecting the company’s focus on operational emissions management and the strategic use of carbon credits. Gross equity emissions intensity improved to 33.3 kg CO2-e per barrel of oil equivalent, outperforming industry benchmarks.

The company’s climate strategy balances ambition with pragmatism, investing US$2.6 billion cumulatively in Scope 3 emissions abatement projects, including new energy products and lower-carbon services. Woodside’s approach is underpinned by transparent reporting, rigorous governance, and active engagement with stakeholders on climate-related risks and opportunities.

Governance and Leadership Transition

Woodside’s governance framework remains strong, with a diverse and experienced Board overseeing strategic execution and risk management. In December 2025, CEO Meg O’Neill resigned to lead bp, and Liz Westcott was appointed Acting CEO. The Board is focused on a smooth leadership transition while maintaining momentum on key projects and strategic priorities.

Woodside continues to refine its portfolio, highlighted by the divestment of the Greater Angostura assets and the planned assumption of operatorship of the Bass Strait assets from ExxonMobil, expected to complete in 2026. The company’s capital discipline and balance sheet strength remain priorities, with gearing at 18.2% and liquidity of US$9.3 billion at year-end.

Outlook and Market Positioning

Woodside is well positioned to meet growing global energy demand amid the energy transition, leveraging its portfolio of long-life LNG assets and high-return oil projects. The company’s strategic investments in lower-carbon ammonia and carbon capture technologies complement its core operations, supporting a resilient and diversified energy portfolio.

While commodity price volatility and regulatory uncertainties persist, Woodside’s disciplined capital management, strong customer relationships, and operational excellence provide a solid foundation for sustainable growth and value creation.