Woodside plans US ammonia investment pullback

Woodside Energy will reduce its investment in the Beaumont New Ammonia plant in Texas after a strategic review found that customer demand for lower-carbon ammonia is growing more slowly than expected and supporting policy frameworks are shifting. The plant operated at 69% of capacity in the September quarter, constrained by feedstock availability and a 30-day shutdown after a safety incident. Woodside also narrowed the upper end of its annual production forecast to 181 million barrels of oil equivalent, from 185 million, even as higher production and realized prices lifted quarterly revenue. The pullback is part of a broader retreat from lower-carbon spending, following the company’s abandonment of a longer-term emissions target and cancellation of planned spending in the sector. Woodside is instead advancing established energy projects, including the Browse LNG development, while its Scarborough project is nearing completion.