Woodside beats Q4 revenue estimates despite oil slump, flags lower 2026 output

Liz Westcott, Woodside's interim CEO, said the quarterly performance was driven by sustained plateau production at its Sangomar oil field offshore Senegal and the Pluto LNG project operating at 100 per cent through the second half of 2025.

“In recent days, we marked a special milestone for the Scarborough Energy Project with the safe arrival of the floating production unit at the field and commencement of hook-up activities," she said. "The project was 94 per cent complete at the end of the year and remains on budget and on target for first LNG cargo in Q4 2026."

The market had previously expected a first cargo in the third quarter.

Meg O’Neill left Woodside in mid-December to lead BP and the company has not named a permanent CEO, though Westcott is viewed by analysts as one of three strong internal candidates.