Woodside Energy Narrows Production Forecast, Plans Beaumont Stake Reduction

Woodside lowered the top end of its annual output guidance to 181M BOE from 185M, a 1.1% midpoint cut. The Beaumont ammonia project underperformed; the company will seek to reduce its stake. Q3 revenue rose 2% to $4.28B, production up 12%, LNG prices up 27%. Scarborough is 99% complete, first LNG cargo on track for this year.