Woodside nearly doubles revenue as fossil fuel giants cash in on oil and gas prices

Woodside Energy’s quarterly revenue has nearly doubled in a year thanks to strong gas pricing, following a similar announcement from oil and gas giant Santos last week.

Woodside on Wednesday reported an 81% jump in its fourth-quarter revenue despite recent declines in oil prices.

The company’s high performance is likely down to the fact that most of Woodside’s LNG sales are linked to oil prices on a three to six-month lag.

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