Woodside raises cost-cutting target to $400 million a year from 2028

Woodside Energy signed LNG supply deals totaling about 3.5 Mtpa to Europe, with options to redirect cargoes. The agreements, subject to conditions, include buyers like Germany's Uniper and Türkiye's BOTAŞ. Woodside aims to increase contracting post-Louisiana LNG startup, targeting first LNG in 2029. The company is Australia’s largest independent oil and gas firm, listed on the ASX and NYSE.

Woodside Energy plans to cut over 500 jobs globally to achieve $400M in annual cost savings by 2028, according to its Capital Markets Day 2026 presentation. Savings will come from streamlined processes, reduced external spending, and portfolio optimization. The company is listed on the ASX and NYSE.

Woodside Energy has agreed to supply Türkiye's BOTAŞ with 0.5 million tonnes per annum of LNG for nine years starting in 2030. This deal is part of Woodside's 11 Mtpa of LNG agreements signed in the past two years. The company's portfolio includes oil-linked and gas-linked pricing, with projects in Australia and the US.

Woodside Energy aims for a 12-15% return on capital employed by the mid-2030s, driven by projects like Scarborough, Trion, and Louisiana LNG, cost cuts, and marketing. The target assumes a Brent price of $70/barrel. Woodside is listed on the ASX and NYSE.

Woodside Energy announced a new policy to distribute 20-40% of adjusted operating cash flow (AOCF) to shareholders, prioritizing 20% as a base dividend. The remaining 20% may be used for additional dividends or buybacks. The company stated this approach is more predictable and aligns with industry peers. Under the old policy, Woodside paid 80% of underlying net profit after tax, equivalent to about 31% of AOCF. The company is listed on the Australian and New York stock exchanges.

Woodside Energy forecasts over $40B in adjusted operating cash flow from 2027 to 2032, based on existing projects and long-term commodity prices. The company expects annual AOCF to reach about $7B by 2032, with significant contributions from Scarborough, Trion, and Louisiana LNG. CEO Liz Westcott noted $13B returned to shareholders since 2022. The figures are indicative, not guidance.