Meg O’Neill said Woodside is listening to its investors on climate, brushing off green groups’ alarm about a $10 billion-plus oil project nearing a go-ahead.
Woodside Energy boss Meg O’Neill has shrugged off demands from environmental groups for the cashed-up oil and gas producer to rein in spending on new petroleum developments, setting the scene for a go-ahead within months on a major oil project in Mexico.
Ms O’Neill said 2022 was “a fantastic year” for Woodside, noting that a full-year contribution from the BHP assets paved the way for further production growth this year amid prices that were likely to remain volatile. So far, Woodside has spent only about $US100 million on potential new opportunities in low-carbon energy.demands from the Greens to halt to new gas and coal projects in return for their support for the beefed-up safeguard mechanism policyMs O’Neill said she was “very pleased with Labor’s response and their strong support for gas”.
The average price Woodside received for its products rose 63 per cent to $US98.40 per barrel of oil equivalent as it benefited from a global energy crunch exacerbated by Russia’s invasion of Ukraine.But Ms O’Neill noted that Woodside’s tax and royalty payments in Australia more than tripled in the year as a result of the increased profit, to $2.7 billion, up from $700 million in 2021.
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