Woodside profit down despite output boost as prices dip
Great Australian energy producer Woodsyide, despite higher production revenues, decreased by 24 percent of temporary earnings.
The gas and oil giant previously fell from $ 1.63 billion ($ 2.51 billion), published a net profit underlying US $ 1.24 billion ($ 1.91 billion) for the first half.
However, the result was slightly better than the market consensus estimation.
As a result, the result was $ 1.32 billion (A2.03 billion) with a decrease of 32 percent.
Weak commodity prices and other factors are more than balancing a large increase in production by Sangomar Petrol Project.
From WoodSide’s decision to exit the proposed liquid hydrogen project in Oklahoma, a restoration expense of $ 445 million (A684 million) and a loss of $ 143 million (A220 million) were also weighed.
Woodsyide’s operating revenue increased by 10 percent in six months ending on June 30th.
The company also increased by 11 percent in half -year production.
Woodsyide will pay the temporary dividend of 53 US cents per share, which is lower than the 69 US syringe paid up to the previous half.
However, CEO Meg O’Neill said that the payment rate of 80 percent of the basic net profit after the tax is still at the top of the range.
“The strong performance of our assets has enabled us to protect our temporary dividend payment rate at the upper end of the payment range, focusing on our strong financial performance and disciplined capital management.”
Woodside also made progress at the Scarborough Energy Project in Western Australia, which was now 86 percent before LNG’s first shipments in the second half of 2026.
WoodSide’s share price decreased to $ 26.49 with a lower lower and 1.5 % drop.
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