Woodside Energy posts modest profit rise amid takeover chatter and board reshuffle

Woodside Energy announced a 7% increase in underlying net profit for the June half-year, reaching $1.33 billion and prompting a rise in the interim dividend from 53 cents to 57 cents. Chief executive Liz Westcott said the company delivered solid production, cash flow and shareholder returns while advancing its growth plans. Total operating revenue climbed 13% to $7.5 billion, driven by the output of 86.5 million barrels of oil equivalent.

The share price edged up 2.5% in early trading as investors await the Scarbough gas development's first LNG shipments later this year. Meanwhile, speculation grows that Exxon Mobil may propose a merger, coinciding with the pending departure of long-serving chairman Richard Goyder and possible succession by board member Mark Cutifani, whose past involvement with Elliott Management and Northern Star has attracted media attention.