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(Bloomberg) -- Woodside Energy Group Ltd.’s net income more than doubled as the Australian liquefied natural gas producer’s output rose to a record.
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Net income for 2024 was $3.57 billion, up from $1.66 billion a year earlier, the Perth-based company said Tuesday. That beat a consensus estimate of $3.36 billion. Production rose 4% to 194 million barrels of oil equivalent.
“In 2024, the record annual production was at the top end of the full-year guidance range, underpinned by consistently strong 98% reliability at our operated LNG facilities,” Chief Executive Officer Meg O’Neill said.
Production guidance for this year was kept at 186 to 196 million barrels, of which about 40% is LNG. Underlying profit fell 13% from a year earlier to $2.88 billion. The company is still progressing toward readiness for a final investment decision on its Louisiana LNG project in the US this quarter and is “attracting interest from high-quality partners,” O’Neill said.
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