Woodside Energy Lowers Top of 2026 Output Forecast, Plans Beaumont Cut

what happened

Australia's Woodside Energy lowered the top end of its annual production guidance, according to Dow Jones Newswires. The company now expects output of 174 million to 181 million barrels of oil equivalent over the 12 months to December, down from 174 million to 185 million previously. It pointed to revised volumes from the Beaumont New Ammonia project in Texas, a narrower window for the first LNG cargo from the Scarborough project, and lower output from the Okha FPSO off Western Australia.

In the third quarter, production rose 12% from the prior three months to 46.2 million boe, and revenue reached $4.28 billion. The average LNG price climbed 27% to $84 per boe. Woodside also said it will begin a formal process to reduce its investment in Beaumont.

why it matters

For the LNG market, the higher realized price and reaffirmed Scarborough timing matter, while the lower guidance trims the company's supply outlook for 2026. The Beaumont cut signals a shift away from lower-carbon ammonia investments.

market impact

Gas and LNG: Scarborough timing and LNG prices shape supply expectations for 2026

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