PERTH, March 28, 2026, 04:09 AWST
Woodside Energy Group Ltd shares edged up on Friday, with delayed Reuters data showing the stock at A$34.47, up 0.26%. The gain came with energy markets still tight, as Brent crude rose 4.2% and investors braced for more disruption from the Middle East war. 1
It matters now because Woodside is still chiefly a liquefied natural gas, or LNG, and oil producer even as it tries to broaden into ammonia and North American growth. Liz Westcott took the top job this month as the company navigates a softer 2026 production outlook, and she has said bringing in more investors for Louisiana LNG is one of her near-term priorities. 2
The immediate operational wrinkle came from Western Australia. Reuters reported on Friday that Tropical Cyclone Narelle had disrupted production at Woodside’s Karratha gas plant, the onshore processing hub for the North West Shelf project, while Chevron was also working to restore output at its Gorgon and Wheatstone LNG plants. 3
That matters beyond Australia. Brent settled at $112.57 a barrel on Friday, up $4.56, and StoneX analyst Alex Hodes said any prolonged closure of the Strait of Hormuz would keep a “significant risk premium” in the market. 4
Woodside also gave investors a separate update on Thursday, saying it had assumed operational control of the Beaumont New Ammonia facility in Texas after handover from OCI Global. The plant can produce and export up to 1.1 million tonnes of ammonia a year, and Westcott called the step “an important milestone” in Woodside’s push into new energy products and lower-carbon services. Woodside said it had secured offtake agreements — supply contracts — at prevailing market prices, but lower-carbon ammonia is now expected only after 2026 because of construction issues at a third-party feedstock supply facility. 5
The same theme is lifting other gas exporters. Reuters reported this week that investors have also chased names such as Venture Global and Cheniere, with Jefferies analyst Mike Wilson saying the “gas price ramp” has been the clearest signal for markets. 6
Another issue for investors is funding. Tim Waterer, chief market analyst at KCM Trade, said a further sell-down of Louisiana LNG would monetise a high-quality asset while helping to de-risk the balance sheet. 7
The risk case is easy to sketch. Woodside had already warned in January that 2026 production would be lower because of planned maintenance at Pluto LNG and the timing of first Scarborough volumes, with Jarden’s Nik Burns saying the guidance still sat below market expectations. A Reuters poll of analysts this week also showed oil could swing sharply under different war scenarios, meaning the commodity tailwind lifting Woodside now could cool quickly if supply fears ease. 8
