Woodside Energy reported a 24% slump in its first-half net profit after tax (NPAT) to over $1.3 billion for 2025, pressured by lower realized prices and depreciation costs in its Sangomar oil project in Senegal. Underlying NPAT for the six-month period ended June 30 was $1.25 billion, down from $1.63 billion last year.
In response to the profit drop, Woodside announced it will scale back exploration efforts and prioritize its $39 billion project pipeline to strengthen its balance sheet. CEO Meg O'Neill stated the company will take a disciplined approach to future growth.
The company will reduce spending on new energy and exploration as it prioritizes delivering sanctioned projects. This strategic shift aims to optimize capital allocation and ensure the successful execution of its major developments amidst market conditions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.