Woodside Energy has reported a 24 per cent drop in full-year profit despite achieving record production of 198.8 million barrels of oil equivalent (MMboe) as weaker realised prices offset strong production.
The company reported net profit of US$2.72 billion for the full-year ending December 31, 2025, down 24 per cent from US$3.57 billion. Underlying net profit fell 8 per cent to US$2.65 billion from US$2.88 billion.
The board declared a final dividend of 59 US cents per share, bringing the full-year dividend to US$1.12 per share.
Woodside Acting CEO Liz Westcott said: “The outstanding full-year results reflected the disciplined execution of Woodside’s strategy, while maintaining safe, reliable and sustainable operations.
“The strength of our base business has delivered returns for shareholders, with Woodside having returned approximately US$11 billion in dividends since merger completion in 2022.
“At the same time, we are re-investing in the business and actively refining the portfolio, while maintaining a strong balance sheet and gearing within the targeted range.”
Woodside remains focused on its LNG projects to meet growing demand. Its Scarborough Energy project off the Pilbara coast of Western Australia is 94 per cent complete as of end-December, and remains on track for first LNG in the fourth quarter of 2026.
“Once operational, Scarborough gas and output from Louisiana LNG will help meet long-term energy demand, as evidenced by the six sales agreements for portfolio supply that Woodside signed in 2025 with buyers in Asia and Europe,” Westcott said.
“These agreements demonstrate the ongoing role of LNG in balancing our customers’ energy security and decarbonisation needs.”
Meanwhile, Woodside’s Trion greenfield development in Mexico is on target for first oil in 2028, with the project 50 per cent complete at the end of 2025.
“Woodside’s objectives for 2026 are clear: ramp up Beaumont; deliver first LNG cargo from Scarborough; and continue progressing Louisiana LNG and Trion to schedule and budget.
“We will remain focused on creating long-term value through disciplined capital allocation, maintaining strong liquidity and actively managing the portfolio.”
