$WDS

Oil markets remain volatile due to escalating tensions in the Strait of Hormuz and Saudi-Houthi conflict. Brent crude holds near $115/barrel. EQT (EQT) to acquire Range Resources (RRC) in $13B deal. ExxonMobil (XOM) reports Guyana discovery. BP (BP) explores Venezuela's Loran field. ENI (ENI) starts Cyprus gas project. OPEC+ may hold output steady. US considers extending China shipping fee truce. Houthis strike Saudi refinery. Galp-Moeve merger abandoned. EU may impose tariffs on Chinese goods.

Woodside Energy (WDS) agreed to sell its 33.44% stake in the Greater Sunrise LNG project to East Timor's state-owned oil and gas company for up to $200M. The deal follows a long delay in the project's development.

Woodside Energy reported Sangomar oil field revenue of $659M in Q3 2026, down 13.6% from Q2 but up 38% year-over-year. Nine-month revenue reached $1.9B, up 32.6% from 2025. Production fell due to natural decline and contract terms. Woodside trades as WDS in New York.

INPEX will acquire Woodside's 21% stake in the Bonaparte CCS project, as Woodside exits the joint venture. The project, formed in 2022, aims to appraise greenhouse gas storage potential.

Woodside Energy (WDS) plans to reduce investment in its Beaumont New Ammonia project in Texas, which has underperformed since its 2024 acquisition. The company will begin a formal process for this reduction. According to Woodside, the plant has not met expectations. This decision may impact the company's financial outlook and investor sentiment.

Woodside Energy Group Ltd (WDS) reduced its 2026 production guidance to 174-181 million barrels, down from 174-185 million, citing delays in Scarborough LNG and other projects. Q3 production rose 12% to 46.2 million barrels, with revenue up 2% to $4.28 billion. Scarborough is 99% complete, on track for Q4 first LNG. LNG prices rose to $84/boe from $66. Woodside plans to reduce investment in Beaumont New Ammonia and assess Bass Strait wells. Net debt is $8.9 billion with $7.8 billion liquidity.

UBS raised its oil and LNG price forecasts, increasing Woodside Energy Group's (WDS) expected earnings by 26% for 2026 and 32% for 2027, while also boosting dividend forecasts. Separately, Woodside reported unlawful access to its Scarborough floating production unit, emphasizing safety without providing operational details.

Woodside Energy (WDS) halted operations at its $12.5B Scarborough gas project in Australia after a Greenpeace protest. Four activists scaled the platform, causing the pause. The project is a key development for the company's gas production.

UBS raised its oil and LNG price forecasts due to the prolonged US-Iran conflict, expecting Brent to average US$100/barrel in Q4. This led to higher earnings and dividend forecasts for Woodside (WDS) and Santos (STO). UBS upgraded WDS's 2026 and 2027 earnings by 26% and 32%, with dividends up 49% in 2026. STO's earnings were raised by 27% for both years, with dividends up 87% in 2026. UBS kept WDS as Neutral and STO as Buy.

Woodside and partners aim to develop the Browse gas fields, off Western Australia, to meet projected domestic gas shortfalls from 2030. The project, estimated at $50B, faces opposition from the Australasian Centre for Corporate Responsibility (ACCR), which argues WA has enough gas and that Browse is not essential. Woodside and the WA government maintain Browse is critical to avoid a supply crunch and support the local economy.