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Woodside Energy Group Abandons $5 Billion Low-Carbon Investment Target; Launches Review of Beaumont New Ammonia

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Woodside Energy Group (ASX:WDS) has abandoned its target to invest $5 billion in new energy products and lower-carbon services by 2030, according to a Tuesday filing with the Australian bourse.

The company is also performing a strategic review of its Beaumont New Ammonia business in the US, per the filing.

In a presentation accompanying its first-half results, the company said its climate targets are "guided by the pace of global energy transition," while the new energy business will be "guided by customer demand and commercial markets."

Woodside affirmed its 2030 net equity scope 1 and 2 greenhouse gas emissions reduction target.

The company's shares gained 1% in recent Tuesday trade.

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