Woodside and Santos announce surging revenues

Ship with LNG gas exports (UK gas)
Image: Shutterstock

High energy prices due to Russia’s invasion of Ukraine have seen revenues surge at Australian oil and gas companies Santos and Woodside, according to Energy Voice.

Woodside’s revenue for the three months to the end of June was $3.4 billion, up 44 per cent from the previous three months, while Santos’ sales for the first six months of the year hit a new record of $3.8 billion, up 85 per cent on the same period last year.

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Woodside CEO Meg O’Neill said the company’s merger with BHP’s petroleum division helped contribute to the result while Santo chief Kevin Gallagher said both high production and high prices helped deliver the company’s record revenue.

Meanwhile, Greenpeace Australia Pacific is appealing the Western Australian Environmental Protection Authority’s (EPA) decision to extend the life of Woodside’s North West Shelf gas processing facility.

Greenpeace Australia Pacific CEO David Ritter said the EPA’s recommendation to allow Woodside’s North West Shelf project to be extended for another 50 years shows how fossil fuel companies can exploit weak environmental laws to continue polluting. 

A decision on the appeal is yet to be made.

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