Woodside Energy Profit Up As Control Speculation Grows

AsiaWoodside Energy Profit Up As Control Speculation GrowsByTim Treadgold,Contributor.Forbes contributors publish independent expert analyses and insights. Tim Treadgold is an Australian journalist specializing in miningFollow AuthorAug 24, 2026, 09:15pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.SummaryAustralia's Woodside Energy posted a 7% rise in underlying net profit to $1.33 billion for the June half-year, fueled by high oil and gas prices, and increased its interim dividend. Speculation is rife about a potential takeover, with Exxon Mobil reportedly interested in Woodside's LNG assets as Chairman Richard Goyder prepares to step down. Mark Cutifani, a board member, is a leading contender for chairman, but his connections to aggressive US hedge fund Elliott Management are under scrutiny. Investor attention is expected to intensify with the upcoming launch of the Scarborough gas development's LNG shipments.Show More LNG being offloaded in China. (Photo by VCG/VCG via Getty Images)VCG via Getty ImagesWoodside Energy, Australia’s biggest oil and gas company lifted its underlying net profit by a modest 7% in the June half-year adding to speculation of a possible takeover bid.The profit increase from $1.24 billion to $1.33 billion was against a background of high prices for oil and gas caused by the Iran war.Despite the slightly better profit the company has lifted its interim dividend from 53 cents to 57c.Woodside chief executive Liz Westcott said the company had delivered strong production, cash flow and shareholder returns, while continuing to execute the next phase of growth.Liz Westcott, chief executive officer of Woodside Energy Group Ltd. Photographer: Matt Jelonek/Bloomberg© 2026 Bloomberg Finance LPTotal operating revenue in the latest half year was up 13% at $7.5 billion from the production of 86.5 million barrels of oil equivalent (oil and gas).The profit result...