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
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
