Delivering value and driving growth

Releasing the results, CEO Meg O’Neill highlighted the company’s strong financial position and long-term growth outlook.

"Woodside begins 2025 with a strong balance sheet, a resilient and high-performing base business, and an attractive portfolio of projects which position us to deliver value-accretive growth and shareholder returns."

Key highlights include:

• Record production of 193.9 million barrels of oil equivalent (MMboe), underpinned by outstanding Sangmar performance and world-class operated LNG reliability of 98%.
• Net profit after tax of $3.6 billion, total full-year dividend of US 122 cents per share, fully franked and at top end of the target payout range.
• Excellent progress of major growth projects; with Scarborough Energy Project now 80% complete¹, and Trion more than 20% complete.
• Unit production cost of $8.1 per boe, reduced by 2% from the previous year despite an inflationary environment.
• On track to meet Scope 1 and 2 emissions reduction targets; material progress made toward Scope 3 investment and abatement targets.^2,3
• Acquisition of Tellurian and Driftwood LNG (renamed Louisiana LNG), positioning Woodside as a global LNG powerhouse and significantly increasing long-term cash generation potential.
• Acquisition of Beaumont New Ammonia, a compelling new energy investment targeting first ammonia production in the second half of 2025 and lower-carbon ammonia production in the second half of 2026.⁴

The safety of Woodside’s people continues to be a priority, with Meg noting the strong safety performance achieved at Sangomar and during delivery of the Pluto Train 2 modules set the required standard for Woodside.

Woodside also released our 2024 Climate Update on the same day.

“We have continued to deliver on our commitments as we pursue a climate strategy for all our shareholders and which balances ambition with financial discipline and achievability,” Meg said. “This year Woodside further reduced net equity Scope 1 and 2 greenhouse gas emissions to 14% below our starting base and we remain on track to meet 2025 and 2030 targets.”

If you haven’t already seen it, check out Meg’s video on our 2024 highlights.

Read the 2024 Full-Year Results, Annual Report and Climate update here.

^{1 Excludes Train 1 modifications. As of 31 January 2025.}

^{2 Targets and aspiration are for net equity Scope 1 and 2 greenhouse gas emissions relative to a starting base of 6.32 Mt CO2-e which is representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016-2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Net equity emissions include the utilisation of carbon credits as offsets.}

^{3 Scope 3 targets are subject to commercial arrangements, commercial feasibility, regulatory and Joint Venture approvals, and third-party activities (which may or may not proceed). Individual investment decisions are subject to Woodside’s investment targets. Not guidance. Potentially includes both organic and inorganic investment.}

^{4 Production of lower-carbon ammonia is conditional on supply of carbon-abated hydrogen and ExxonMobil’s CCS facility becoming operational.}