Woodside Profit Trebled in 2022, Boosted by BHP Petroleum Merger and Oil and Gas Prices

Australia’s Woodside Energy, who merged with BHP Petroleum in June posted stellar full-year net profit more than trebled to a record in 2022 as oil and gas prices soared. The merger saw almost double production. The company also took control of Exxon Mobil’s 50 percent interest in the Scarborough gas field off Western Australia doubling their gas production. Woodside’s core net profit, jumped to $US5.23 billion in the year ended December 31, up 223 per cent from 2021, though less … Continue reading “Woodside Profit Trebled in 2022, Boosted by BHP Petroleum Merger and Oil and Gas Prices”

Woodside Moving on Developing Greater Sunrise Natural Gas Project in Timor Sea

Australia’s Woodside Energy Group is moving quickly to choose the best option for developing the Greater Sunrise natural gas field near East Timor. Last year East Timor’s president warned a continued impasse could open the door to investment from China. The project is a joint venture between East Timor’s state-owned energy company with 56.56% of the project, operator Woodside (WDS) holds 33.44% and Osaka Gas (OSGSF) owns 10%. It has been stalled for decades. China has been active in trying … Continue reading “Woodside Moving on Developing Greater Sunrise Natural Gas Project in Timor Sea”

Woodside Doubles Gas Production After Taking Control of Field From Exxon

Australia’s Woodside Petroleum has taken on control of Exxon Mobil’s 50 percent interest in the Scarborough gas field off Western Australia doubling their gas production. Fellow Australian rival BHP Billiton cleared the way after waiving its right to pre-emption on the deal.