Woodside Boosts Profit and Shifts Strategy Toward Oil and Gas
Woodside Energy reported a 7% increase in first-half 2026 net profit to $1.33 billion, with average realized prices rising to $74 per barrel equivalent. The company plans to reduce exposure to projects with uncertain demand and returns, reviewing Beaumont to avoid low-return capital commitments. Scarborough LNG is 98% complete for a first cargo in Q4 2026, while Trion targets first oil in 2028 and Louisiana LNG in 2029.