Woodside Energy

Woodside Energy Group Ltd engages in the exploration, evaluation, development, production, marketing, and sale of hydrocarbons in Oceania, Asia, Canada, Africa, and internationally. 

The company produces liquefied natural gas, pipeline natural gas, condensate, liquefied petroleum gas, and crude oil. It holds interests in the Greater Browse, Greater Sunrise, Greater Pluto, Greater Exmouth, North West Shelf, Wheatstone, Julimar-Brunello, Canada, Senegal, Greater Scarborough, and Myanmar projects. 

The company was formerly known as Woodside Petroleum Ltd and changed its name to Woodside Energy Group Ltd in May 2022. Woodside Energy Group Ltd was founded in 1954 and is headquartered in Perth, Australia.

Woodside was incorporated on 26 July 1954. It was originally named Woodside Oil Co NL and it was named after the small town of Woodside, Victoria. Woodside's early years were focused on Victoria's Gippsland Basin. Switching to northern Western Australia in the early 1960s, Woodside joined up with Shell and Burmah Oil to form the original North West Shelf consortium. 

BHP later replaced Burmah and Shell, and each became a 40% shareholder in Woodside in 1985. BHP reduced its shareholding to 10% in July 1990. In October 1994, BHP sold its remaining shares while Shell sold down to 34%. In 1995, Woodside moved its head office from Melbourne to Perth, Australia.

In 2001 Shell sought to buy out the remaining portion of the company that it did not already own at the time; however, the takeover move was blocked by Treasurer of Australia, Peter Costello, on national interest grounds. In November 2010, Shell reduced its 34% stake to 24%. In November 2017, Shell sold its remaining shares. 

In August 2021, Woodside entered into an agreement with BHP to merge the latter's oil and gas assets with Woodside. The deal is subject to regulatory and shareholder approval and has been described by environmentalists as 'a disastrous outcome for Woodside shareholders and climate'. 

In May 2022, the merger with the BHP oil and gas assets was approved by approximately 98% of Woodside shareholders. As of June, the merger was completed and the combined entity was listed on the New York Stock Exchange and the London Stock Exchange.

“We are focused on growing outstanding leaders, building diverse capability and driving an inclusive, high-performing culture.”

“Our vision is to deliver superior shareholder returns by becoming a global leader in upstream oil and gas.”