Highlights
- Global crude prices fell as markets priced in potential future increases in Venezuelan oil supply.
- Woodside targets USD 9bn net operating cash flow by early 2030s through key LNG and ammonia projects.
- Santos completed asset sales to reduce decommissioning obligations and focus on domestic gas supply.
WTI crude oil fell over 1% to around USD 56 per barrel after U.S. President Donald Trump said Venezuela would send 30–50 million barrels to the U.S. Traders worry this could add supply to an already oversupplied market, while U.S.–Ukraine talks and changes in U.S. crude inventories added more uncertainty. Australian energy shares also fell today, with Woodside Energy Group, Santos Ltd, and Ampol Limited declining, while the S&P/ASX 200 Energy index (^XEJ:ASX) dropped 2.25% to 8,285.4 points amid cautious market sentiment.
Amid volatility in the global oil market, ASX-listed energy stocks have moved into focus. Here is a look at their strategic approaches.
Woodside Energy Group Strategy
Woodside Energy Group (ASX:WDS) outlined its long-term strategy on 10 December 2025, aiming to meet global demand for affordable, reliable and lower-carbon energy while growing shareholder value. The company plans to maximise performance from its base business, deliver cash-generative projects and develop future opportunities. Woodside is targeting net operating cash flow of around USD 9bn by the early 2030s and indicated a potential 50% increase in dividend per share from 2032. Key projects include Beaumont New Ammonia, Scarborough LNG, Trion offshore Mexico and Louisiana LNG. The company expects global LNG demand to grow by around 60% by 2035 and has returned approximately USD 11bn in dividends since 2022.
Share Performance
WDS was trading at AUD 22.90, down by 2.66% in today’s session.
Santos Ltd Asset Divestments
Santos Ltd (ASX:STO) announced on 17 December 2025 that it had completed agreements to divest its 42.86% interest in the Mahalo Joint Venture to Comet Ridge Limited for AUD 40m upfront, with up to AUD 20m in contingent payments. Santos also sold its interests in the Petrel and Tern fields to Eni Australia. These divestments reduce future decommissioning obligations and monetise pre-development assets outside near-term priorities, allowing Santos to focus on domestic gas supply and progress key projects such as Barossa and Pikka.
Share Performance
STO was trading at AUD 5.92, down by 3.03% in today’s session.
Ampol Limited Operational Update
Ampol Limited (ASX:ALD) reported its operational update on 10 December 2025, posting 1H FY25 RCOP EBITDA of AUD 649m and RCOP EBIT of AUD 404m, with year-to-date sales of 18.5 BL. The November Lytton Refinery Margin stood at USD 17.90 per barrel. Ampol’s strategy centres on expanding convenience retail across Australia and New Zealand, executing productivity initiatives targeting AUD 50m in cost reductions, and advancing energy transition initiatives including EV charging and renewable fuels.
Share Performance
ALD was trading at AUD 30.44, down by 2.45% in today’s session.






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