Woodside Posts 24% Drop in First-Half Profit
August 19, 2025
Australia's Woodside Energy recorded a 24% fall in its first-half profit on Tuesday, mainly due to lower average realized prices and depreciation costs associated with its Sangomar oil project in Senegal.
The company's average realized price for its products was $61.8 per barrel of oil equivalent during the first half, compared with $62.6 pboe last year.
Meanwhile, production costs, depreciation and amortization related to the Sangomar project came in at $773 million during the period.
The oil and gas giant reported an underlying net profit after tax of $1.25 billion for the six months ended June 30, compared with $1.63 billion last year and in line with Visible Alpha's consensus estimates.
It declared an interim dividend of 53 cents per share, lower than 69 cents declared last year.
(Reuters - Reporting by Himanshi Akhand and Sneha Kumar in Bengaluru; Editing by Alan Barona)
