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Woodside unveils new capital strategy targeting $400M annual savings and 12-15% ROACE by mid-2030s
WDSWoodside Energy Group Ltd
Woodside Energy Group Ltd presented its 2026 Capital Markets Day, introducing a revised capital framework and shareholder distribution policy. The company targets $400 million in annual structural cost savings from 2028 and aims for a portfolio Return on Average Capital Employed (ROACE) of 12 to 15 percent by the mid-2030s. A new distributions policy sets a base dividend at 20 percent of adjusted operating cash flow, with flexibility for additional returns via dividends or buybacks up to a total of 40 percent. Woodside expects to generate more than $40 billion in adjusted operating cash flow from 2027 to 2032 as major projects like Scarborough, Trion, and Louisiana LNG come online. The company also announced the retirement of its Scope 3 emissions targets and a new 2035 net equity Scope 1 and 2 intensity reduction target. Woodside Energy Group Ltd is an independent energy company focused on the exploration, development, and production of oil and natural gas.