Woodside Scraps Clean Energy Spending
Woodside Energy abandoned its clean energy spending plans and emissions target to focus on oil and gas. The shift followed a seven percent first-half profit rise.
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WOODSIDE ENERGY GROUP LTD scrapped $5 billion in clean energy spending and abandoned its Scope 3 emissions target during Tuesday morning trade, posting a 7% rise in first-half profit. The Australia-based oil and gas producer is shifting its capital back to core fossil fuel assets. The pivot comes as global energy markets grapple with supply shocks and higher commodity prices.
