Woodside's Q4 2024 Earnings Call: Contradictions in LNG Sell-Down and Asset Divestiture Plans

These are the key contradictions discussed in Woodside Energy Group Ltd's latest 2024Q4 earnings call, specifically including: Louisiana LNG Sell-Down Process and Timing, and Divestiture Plans for Smaller Oil Assets:



Strong Financial Performance:
- Woodside Energy Group reported a net profit after tax of $3.6 billion, which was a significant increase over 2023, and earnings per share stood at U.S. 189 cents.
- This outcome reflects the company's ability to leverage its proven operational excellence, disciplined investment decisions, and world-class project delivery capabilities.

Record Production and Resource Addition:
- Woodside achieved record annual production in 2024 with 194 million barrels of oil equivalent, reaching the top end of the full-year guidance range.
- This was driven by outstanding performance at the Sangomar project, which achieved nameplate capacity of 100,000 barrels per day within nine weeks of startup.

Strategic Growth Investments:
- Woodside is expanding its portfolio with significant investments in major growth projects such as Scarborough and Trion, with expectations of a 4% to 5% compound annual growth rate for portfolio sales from 2024 to 2030.
- These investments aim to offset declining legacy production and position the company for future growth and value creation.

Sustainability and Climate Initiatives:
- Woodside reduced its net equity Scope 1 and 2 emissions by 14% below their starting base in 2024 and is on track to meet its 2025 and 2030 targets.
- The acquisition of the Beaumont New Ammonia plant is part of a broader strategy to address Scope 3 emissions through investment in low-carbon solutions.