Meg O’Neill says the $US5 billion investment in new energy by 2030 could be raised if the projects stack up, but voiced doubts on returns and customer demand.
Woodside Energy chief executive Meg O’Neill has defended the level of investment the oil and gas producer has earmarked for clean energy and left the door open for raising the spend beyond the $US5 billion targeted by 2030 if returns are high enough.
“I have challenged our new energy team that if they can bring us profitable investment opportunities that are more than the $US5 billion then we have the balance sheet strength and the capacity tot take those on,” Ms O’Neill told the CERAWeek global energy conference in Houston. Woodside announced the retirement of longstanding directors Sarah Ryan and Christopher Haynes, as of the annual meeting on April 28, and the appointment of former TotalEnergies senior executive Arnaud Breuillac as a non-executive director, with immediate effect.
ACCR lead analyst Alex Hillman said the appointments do “not read like a pivot away from fossil fuel expansion”.
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