SYDNEY, March 17, 2026, 08:58 AEDT
Woodside Energy Group Ltd gained 1.9% to finish at A$31.63 Monday, bucking the broader S&P/ASX 200’s 0.4% slide. The Australian producer used its sustainability update to defend its approach and emphasize long-term returns for shareholders.
This move lands as Woodside urges shareholders to stick with its LNG expansion plans, while fresh conflict in the Middle East throws oil, LNG supply lines, and energy security right back into focus. Brent settled at $100.21 a barrel on Monday—almost 40% higher than the month’s open. Against that backdrop, Woodside told investors that the latest developments have actually made the path of the energy transition “less, not more, certain.” Reuters
Woodside’s update landed three weeks after it posted a $2.65 billion underlying net profit after tax—down from last year, but still surpassing analyst forecasts—with record production numbers driven in part by Senegal’s Sangomar project. In that release, the company stuck with its plan to appoint a permanent CEO in the first quarter, unveiled a 59 U.S. cent final dividend per share, and flagged that Scarborough was 94% built and targeting first LNG output in the fourth quarter of 2026. KCM Trade’s Tim Waterer noted that offloading another 20% stake in Woodside’s Louisiana LNG holding firm would go some way toward “de-risking the balance sheet.” Reuters
Woodside reported hitting its 2025 goal for trimming net equity Scope 1 and 2 emissions—those include direct output from its own facilities plus emissions linked to electricity it buys—down 15% from the original baseline. The company noted that gross emissions at the source actually dropped year-on-year, even as oil and gas output increased. Carbon credit use was also down, with Woodside saying it relied on 5% fewer offsets to balance its emissions.
Woodside’s climate policy isn’t shifting, executive vice president for sustainability Tony Cudmore told investors. Acting CEO Liz Westcott pushed the importance of LNG for energy security. The company noted it has inked over 75 million tonnes in long-term LNG sales in the past two years, with deals reaching out to the 2040s and roughly three-quarters of 2026-2028 LNG already locked in.
Investors seemed ready to pay up for a blend of contracted LNG holdings and stronger short-term energy prices. “The geopolitical risk premium could persist,” ETF Shares CEO Cliff Man told Reuters, which lent support to the sector—ending the day up 0.5%. Indo Premier
Still, the plan has hit snags. Woodside flagged fresh construction problems at a third-party feedstock supplier, pushing its Beaumont, Texas lower-carbon ammonia timeline past 2026. The company also noted that demand for lower-carbon ammonia hasn’t picked up as quickly as it had anticipated.
If oil takes another sharp drop, that trade could come under strain. Brent shed roughly 3% Monday after some ships managed to get through the Strait of Hormuz, easing a key concern that had sent crude over $100. Investors are also looking for Woodside to name a new CEO—still no word, but the company said it would happen before the end of the first quarter.
