Conservation groups accuse Woodside of ‘gross negligence’ as it scraps key climate targets

Woodside Energy reported Q2 earnings with $3.0B operating cash flow, $1.3B net profit, and $352M free cash flow. Key projects like Scarborough and Trion are on track. The company declared a $0.57 dividend, highlighted cost discipline, and noted safety and ESG challenges. Management expects strong long-term growth and cash flow.

Woodside Energy abandoned its long-term Scope 3 climate targets, including a US$5 billion clean-energy investment plan. The company reported a 7% rise in underlying net profit to US$1.33 billion and a 27% increase in statutory net profit to US$1.67 billion. Woodside's Senegalese field, Sangomar, is central to its strategy, with production averaging 99,000 barrels per day. The company is also in a tax arbitration with Senegal's government over a US$68 million reassessment.

Woodside Energy is reviewing options, including a sale, for its $2.35B blue ammonia plant in Texas, which is operating below capacity without carbon capture. CF Industries is advancing a $3.7B blue ammonia project in Louisiana. Woodside's CEO cited changing market conditions for the review, while industry-wide uncertainty has led to cancellations of other projects.

Woodside Energy Group Ltd (WDS) reported a 7% net profit increase to $1.33B for H1 2026, raising its dividend to 57 cents per share. The company abandoned its $5B clean-energy investment plan, citing weak demand and market conditions, and is reviewing its $2.35B Beaumont project. WDS will focus on oil and gas, maintaining $4B-$4.5B in 2026 capex, with major projects like Scarborough, Trion, and Louisiana LNG driving growth.

bp acquired Woodside Energy's 70% stake in the Calypso gas project, aiming for 100% ownership by year-end. The deal highlights bp's commitment to Trinidad and Tobago's gas sector, with projects like Ginger and Coconut. Shell is also expanding in the region, increasing Manatee pipeline capacity. Investments in Caribbean gas infrastructure are growing, with developments in Suriname and The Bahamas. Caribbean Energy Week 2027 will discuss these trends.

Woodside Energy (ASX: WDS) shares fell 3.27% to A$31.92 as energy stocks retreated with oil prices. HY26 results showed revenue up 13% to USD 7.45B, net profit USD 1.67B, and a 5.9% annualized dividend yield. Gearing was 20.6%, above target, due to project liabilities. Analysts' average price target is A$32.62, near current levels. The stock remains above key moving averages, with support at A$31.50-$32.