Woodside Energy Lowers 2026 Output Guidance and Moves to Reduce Beaumont Ammonia Investment

Woodside Energy lowered the top end of its annual production guidance to 174-181 million barrels of oil equivalent and said it will begin a formal process to reduce its investment in the Beaumont New Ammonia project in Texas. The Australian energy company reported the change alongside third-quarter sales revenue of $4.28 billion, up 2% on the prior three months, TradingView reported.

Woodside Trims Guidance on Beaumont Volumes

Woodside said the revised range reflects 1.5 million-2.5 million barrels of oil equivalent from Beaumont, a narrower window for a maiden liquefied natural gas cargo from the Scarborough Energy Project in Australia, and reduced output at the Okha Floating Production Storage and Offloading vessel offshore Western Australia. At the midpoint, the new range is 1.1% below prior guidance of 174 million-185 million BOE.

The company said it completed a strategic review of Beaumont and plans to start a formal process to reduce its investment there. Chief Executive Liz Westcott said in July that the review reflected a shift in international policy positions since Woodside agreed to the US$2.35 billion acquisition in August 2024, along with slack demand for lower carbon ammonia.

Woodside produced 46.2 million barrels of oil equivalent in the third quarter, up 12% on the previous three months, as output from the Pluto LNG project rebounded after maintenance. Its LNG fetched an average price of US$84 per barrel of oil equivalent, up 27% on the second quarter.

"The Scarborough Energy Project is now 99% complete, with gas from the Scarborough reservoir introduced into the FPU and exported into the trunkline during the quarter," Westcott said. "We remain on track for first LNG cargo this year."

Beaumont Deal and Westcott's Appointment

Woodside acquired OCI Clean Ammonia Holding for US$2.35 billion, completing the takeover of the Beaumont New Ammonia facility and marking its entry into the blue ammonia market, according to akta.pro company records. The same records show Liz Westcott was formally appointed CEO and Managing Director on March 18, 2026, after serving as Acting CEO since December 2025, succeeding Meg O'Neill.

Scarborough Protests and Bengaluru Hub

Greenpeace activists occupied a floating production unit at Woodside's Scarborough gas project off Western Australia in October 2026, temporarily shutting down operations, EIN Presswire reported. Woodside appointed Stephane Drouaud as Managing Director of Mexico in October 2026, with the Trion project 64% complete and targeting first oil in 2028 under a $7.2 billion investment, FinancialContent Business Page reported. Woodside launched its Bengaluru hub, Woodside Global Solutions, in September 2026, The Tribune reported.

Scarborough Cargo and Chevron Swap

Woodside said it remains on track for a first LNG cargo from Scarborough this year. The company is progressing toward an asset swap with Chevron planned for the second half of 2026.