Woodside Energy Q1 Revenue Jumps 13% Due to Sangomar Project

Woodside Energy Group reported a strong first quarter of 2025, with a 13% year-on-year increase in revenue to $3.32 billion, driven largely by the successful start-up of the Sangomar project in Senegal and robust gas hub-linked prices. Quarterly production rose 9% from the previous year to 49.1 million barrels of oil equivalent, although this was a 4% decline from the prior quarter due to weather-related disruptions and outages at other facilities. The company's operational performance was highlighted by exceptional reliability at Sangomar and offsetting higher output from the Shenzi and Atlantis fields. Woodside also made significant progress on its major growth projects, such as the Beaumont New Ammonia Project and the Scarborough Energy Project, both of which are proceeding on schedule and within budget. Portfolio streamlining efforts continued with the divestment of non-core assets. Overall, the results exceeded market expectations and were positively received by investors.