Woodside Energy Reports Q1 Revenue Decline Due to Weather Disruptions
Woodside Energy's Q1 revenue reached $3.26 billion, a 2% decrease year-on-year, attributed to an 8% drop in production due to weather impacts. Despite lower output, the company maintained operational reliability and continues to advance major LNG projects.
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In Q1 2026, Woodside Energy recorded a revenue of $3.26 billion, marking a 2% decline from the previous year, primarily due to an 8% year-on-year reduction in production to 45.2 million boe. The average realized price was $63 per boe, slightly down from $64, yet it improved by 11% from the previous quarter.
Major projects, including Scarborough at 96% completion, are on schedule for the first LNG cargo in Q4 2026. Woodside maintains full-year production guidance at 172-186 million boe, despite disruptions from tropical cyclones affecting operations in Western Australia. The company highlighted strong LNG demand and limited geopolitical shipping risks, with new leadership focused on operational efficiency.
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