Woodside Profit Surges as Higher Prices Offset Production Decline

Woodside Energy reported a significant increase in its net profit after tax for the first half of 2026, rising to $1.67 billion, up 27% from the same period last year.

The boost was largely due to higher oil and LNG prices, which helped offset a decline in production. The average realized price climbed 20% to $74 per barrel of oil equivalent amid tighter global energy markets.

However, production fell by 13% to 86.5 million barrels of oil equivalent, or 478,000 boe per day, due to cyclone disruptions and a planned turnaround at Pluto LNG.

The company's operating revenue increased 13% to $7.45 billion, while underlying profit rose 7% to $1.33 billion.