Australia’s export-oriented companies have benefitted from the rebound in prices
Australian developers scale up investments
High prices bolster Australian upstream developments
Australia’s largest upstream companies—Woodside, Santos, Oil Search and Beach Energy—have been buoyed by this year’s surge in oil and gas prices, encouraging a major ramp-up in planned investments. Investment bank Jarden predicted in June that the four firms would more than double their annual spend on new projects, rising from an average of $2.9bn over the last five years to $6bn between now and 2026. The four remain committed to new production projects. That growth will also be accompanied by consolidation, as Woodside and Santos prepare to wrap up their mergers with Australian conglomerate BHP’s petroleum division and Oil Search respectively within the next six months. Woodside Woodside h
Also in this section
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
