Energy

HighlightsWoodside Energy outlined a strategy at its 2026Capital MarketsDay targeting a portfolio return on average capital employed of 12–15 per cent by the mid-2030s, supported by a new capital framework where growth must compete againstShareholderdistributions.The company introduced a revised shareholder distribution policy of 20–40 …

Woodside said cumulative adjusted operating cash flow from 2027 to 2032 is expected to exceed US$40 billion, and exceed US$50 billion in a higher commodity price scenario. It projects about US$7 billion in annual adjusted operating cash flow by 2032, assuming Brent averaging US$70 …

Woodside has split the US$400 million target across three areas. About US$100 million is expected to come from portfolio optimisation, about US$130 million from streamlined processes and about US$170 million from lower external spending. The largest share therefore relates to what Woodside pays to …

The third-quarter report, released on 20 October 2026, said Scarborough is 99% complete.Capital Expenditureon the project was US$186 million in the third quarter and US$751 million in the year to date. Pluto Train 2, which will process the gas, is also 99% complete and …

The third-quarter report provides a detailed view of how construction is advancing. Progress is staggered across the three trains, as is common in large LNG developments, with the first train furthest along. In addition, the project's overall progress has increased from 28% at the …

Woodside's third-quarterOperating Revenueof US$4,281 million was up 2% on the second quarter and up 27% on the same quarter a year earlier. Year-to-date revenue reached US$11,727 million, up 18%. The average realised price was US$84 per barrel of oil equivalent, compared with US$85 in …

Santos reported sales volumes of 26.4 million barrels of oil equivalent and sales revenue of about US$2,006 million for the quarter, up 49% on the prior quarter and 78% on the same quarter a year earlier. FreeCash Flowfrom operations was a record of about …