Woodside trims 2026 production guidance as quarterly output rises 12%

what happened

Australian producer Woodside Energy said in its third-quarter 2026 report, published via TradingView, that output reached 46.2 million barrels of oil equivalent. That is 12% above the second quarter, when the Pluto LNG turnaround was completed. Operating revenue rose to $4.281 billion.

Full-year 2026 production guidance was narrowed to 174–181 million barrels of oil equivalent from 174–185 million. Capital expenditure guidance of $4.0–4.5 billion was kept unchanged. The revision reflects reduced output at the Okha FPSO and a later window for the first Scarborough LNG cargo.

The company said Scarborough is 99% complete and Trion is 71% complete, with first oil from Trion targeted for 2028. Louisiana LNG is 32% complete and targets first LNG in 2029. Beaumont New Ammonia was also suspended for about 30 days after a Tier 1 process safety event.

why it matters

For LNG markets the key points are the shifted Scarborough timeline and higher gas output, which add to supply from Australia. Pricing held steady, with average realised prices at $84 per barrel of oil equivalent versus $85 in the prior quarter.

market impact

Gas and LNG: higher output and the Scarborough timing shift affect LNG supply from Australia

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