Woodside Energy, Australia's largest oil and gas producer, has announced it is scaling back its clean energy investments and will focus on LNG. The company will target $350 million in annual cost savings from 2028, partly by pulling back on lower-carbon projects. Key moves include retiring its scope three emissions-abatement target, abandoning a $5 billion clean energy spending plan for 2030, and reviewing its Beaumont New Ammonia project in Texas. CEO Liz Westcott cited a change in customer appetite and delayed policy frameworks as reasons. The decision comes as higher oil and LNG prices boost earnings, with net income up 27% to $1.7 billion in the first half. Critics say Woodside is moving from an unproven transition platform to a clear reduction in ambition, raising concerns about fossil fuel expansion.
