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Asia

Australian Shares Again Fall; G8 Education to Suspend Operation of Around 40 Centers

Australian shares continued to retreat for the seventh consecutive day at Wednesday's close as markets reacted to the United Arab Emirates' decision to leave the Organisation of the Petroleum Exporting Countries (OPEC).The S&P/ASX 200 Index fell 0.27%, or by 23.70 points, to close at 8,687.Brent crude oil futures for June were trading around $111.25 a barrel after the UAE decided to exit OPEC and OPEC+, effective May 1.Meanwhile, the Strait of Hormuz remained closed, as US President Donald Trump is said to be unhappy with Iran's latest proposal.Further, President ​Trump told aides to be ready for an extended Iran blockade, the Wall Street Journal reported, citing US officials.On the domestic front, Australia's consumer price index (CPI) rose 4.6% in the 12 months to March, up from a 3.7% increase in the year to February, according to data from the Australian Bureau of Statistics.Trimmed mean inflation was unchanged at 3.3% in the 12 months to March compared with February.In company news, G8 Education (ASX:GEM) plans to suspend the operation of around 40 of its centers as a result of an assessment of its network. It will transition customers to one of the nearby centers and, where possible, redeploy team members. The firm will then consider longer-term options for those centers, including lease surrender, divestment, or other alternatives. Its shares plunged 29% at market close, earlier reaching a 16-year low.Woodside Energy Group's (ASX:WDS) operating revenue fell to $3.26 billion in the first quarter ended March 31 from $3.32 billion a year earlier. Total production in the March quarter fell year on year to 45.2 million barrels of oil equivalent (MMBoe) from 49.1 MMBoe. Its shares closed up 2%.Lastly, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) agreed to acquire Worldline's 51% stake in their joint venture ANZ Worldline for an enterprise value of AU$89 million as part of the bank's broader 2030 strategy to enhance transaction banking capabilities.

ASX 200ASX:ANZASX:GEMASX:WDSNZE:ANZ
Asia

Woodside Energy Group Posts Lower Q1 Revenue, Production

Woodside Energy Group's (ASX:WDS) operating revenue fell to $3.26 billion in the first quarter ended March 31 from $3.32 billion a year earlier, according to a Wednesday filing with the Australian bourse.Total production in the March quarter fell year on year to 45.2 million barrels of oil equivalent (MMBoe) from 49.1 MMBoe, per the filing.Sales were 51.7 MMboe at an average realized price of $63 per barrel of oil, compared with 50.3 MMboe at $64 per barrel of oil in the prior corresponding period, the filing said.The company maintained its 2026 production guidance of 172 million to 186 million barrels of oil equivalent.The company's shares gained 1% in recent Wednesday trade.

ASX:WDS
Asia

ASX Preview: Australian Shares Set to Fall as United Arab Emirates Quits OPEC; Woodside Energy Group Posts Lower Q1 Revenue, Production

Australian shares are poised to fall on Wednesday after the United Arab Emirates said it would quit Organization of the Petroleum Exporting Countries (OPEC), rattling global oil markets amid an escalating Iran war and raising questions over future supply stability in the energy sector.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.5%, 0.9%, and 0.1%, respectively.In the macroeconomy, Australia's consumer price index report is due at 11:30 am Sydney time.In corporate news, Woodside Energy Group (ASX:WDS) reported a decline in operating revenue to $3.26 billion in the March quarter from $3.32 billion a year earlier, while total production also fell year on year to 45.2 million barrels of oil equivalent (MMBoe) from 49.1 MMBoe.Westgold Resources (ASX:WGX) reported group gold production of 93,145 ounces of gold and sold 69,900 ounces of gold in the fiscal third quarter ended March 31.Australia's benchmark index fell 0.6% or 55.7 points to close at 8,710.70 on Tuesday.

ASX 200ASX:WDSASX:WGX
Asia

ASX Midday Sector Update: Energy Stocks Advance, Information Technology Falls

Energy stocks were advancing around 1.2% in midday trading Friday, with utilities following close behind, as oil prices continued to climb amid lingering tensions between the US and Iran.Woodside Energy Group (ASX:WDS) was gaining nearly 2%, and Santos (ASX:STO) was over 1% higher.Meanwhile, information technology stocks were leading decliners with a fall of 1.7%.Qoria (ASX:QOR) was down almost 16% after reporting AU$7.6 million in annual recurring revenue in the March quarter, up 49% from a year earlier.

ASX 200ASX:QORASX:STOASX:WDS
Asia

Update: Woodside Energy's Long-Term Strategy Doesn't Mitigate Risks Linked to Oil, Gas Portfolio Growth, HESTA Says

(Updates with a comment from Woodside Energy in the fifth and sixth paragraphs.)Woodside Energy Group's (ASX:WDS) continued focus on expanding its oil and gas portfolio is worrying as it entails transition risk that is not adequately mitigated by the company's long-term strategy, Health Employees Superannuation Trust Australia (HESTA) said Thursday.The superannuation fund, which is a shareholder of Woodside, issued the statement following the company's annual general meeting, noting that it voted against both the remuneration report and the granting of share acquisition rights to the CEO."In our assessment the remuneration package constructed for incoming CEO Liz Westcott is not adequately justified," HESTA said. "The rise in total incentive opportunity appears excessive for an incoming CEO and out of step with its [Australian Securities Exchange] peers."The superannuation fund acknowledged Woodside's progress on climate disclosure and a reduced dependence on carbon credits, but also pointed to an opportunity "for the board to provide greater challenge to the assumptions underlying the oil and gas-focused strategy."In a statement to, a Woodside Energy spokesperson said the company's board "strongly disagreed with recommendations against the CEO's remuneration and we welcome today's positive vote."The CEO's total target reward is above the ASX20 median but lower than the international oil and gas peer median, reflecting her more than 30 years of experience in the global energy sector, the spokesperson said.The company's shares gained nearly 3% on market close.

ASX:WDS
Asia

Woodside Energy's Long-Term Strategy Doesn't Mitigate Risks Linked to Oil, Gas Portfolio Growth, HESTA Says

Woodside Energy Group's (ASX:WDS) continued focus on expanding its oil and gas portfolio is worrying as it entails transition risk that is not adequately mitigated by the company's long-term strategy, Health Employees Superannuation Trust Australia (HESTA) said Thursday.The superannuation fund, which is a shareholder of Woodside, issued the statement following the company's annual general meeting, noting that it voted against both the remuneration report and the granting of share acquisition rights to the CEO."In our assessment the remuneration package constructed for incoming CEO Liz Westcott is not adequately justified," HESTA said. "The rise in total incentive opportunity appears excessive for an incoming CEO and out of step with its [Australian Securities Exchange] peers."The superannuation fund acknowledge Woodside's progress on climate disclosure and a reduced dependence on carbon credits, but also pointed to an opportunity "for the board to provide greater challenge to the assumptions underlying the oil and gas focused strategy."Woodside Energy did not immediately respond to a request for comment from.The company's shares gained more than 2% in recent Thursday trade.

ASX:WDS
Asia

Woodside Energy Group Chair Says Maintaining Stable Fiscal, Policy Environment Critical For Australia

Woodside Energy Group (ASX:WDS) Chair Richard Goyder said that maintaining a stable fiscal and policy environment, including the tax regime, is critical for Australia, according to a Thursday statement.Goyder said that Woodside and its partners are investing AU$12.5 billion in the Scarborough energy project off the coast of Western Australia, and they have "yet to earn one dollar from making this huge investment, but it has generated more than 3,000 local construction jobs, and it will provide enough energy for approximately eight million homes for 30 years."The firm contributed AU$2 billion Australian dollars in taxes, royalties, and levies to Australian federal and state governments, Chief Executive Officer and Managing Director Liz Westcott said.The firm's shares were up 2% in recent trading on Thursday.

ASX:WDS
Asia

ASX Midday Sector Update: Consumer Staples Gain, Energy Stocks Slide

Consumer staples stocks were advancing about 0.5% in midday trading Tuesday, posting a very thin lead over gains for information technology shares.Woolworths Group (ASX:WOW) was up nearly 1% and Coles Group (ASX:COL) rose less than 1%.On the flip side, energy stocks were down 1% as oil prices trended lower amid hopes that Iran will join a second round of peace negotiations with the US.Woodside Energy Group (ASX:WDS) was shedding almost 2%, while Santos (ASX:STO) was down more than 1%.

ASX 200ASX:COLASX:STOASX:WDSASX:WOW
Asia

Over 1 Billion Barrels of Oil Supply Forecast to Be 'Erased' From Global Markets in 2026, Jarden Says

Around 1.1 billion barrels of oil supply will be "erased" from global markets in 2026, and the structural consequences of the ongoing conflict in the Middle East, such as damaged infrastructure and depleted strategic reserves, are likely to persist for years, Jarden said in a Thursday note.It has already erased around 400 million barrels from global markets, with losses running at around 13 million barrels per day. Jarden raised its oil and liquefied natural gas (LNG) price forecasts over the risk of further escalation in the Middle East conflict after peace talks broke down and US President Donald Trump announced a US naval blockade of the Strait of Hormuz.It forecasts Brent crude oil to average $92 per barrel in 2026, $90 per barrel in 2027, and $85 per barrel from 2028, assuming the Strait of Hormuz opens for shipment by the end of April.Fuel, petrochemical, and fertilizer shortages are building. Global oil supply has fallen around 12% and LNG supply around 20%, with demand destruction appearing increasingly inevitable.The investment firm assigned overweight ratings to both Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) and set a price target of AU$37 per share for Woodside and AU$8.85 per share for Santos.

ASX:STOASX:WDS
Asia

ASX Midday Sector Update: Information Technology Stocks Advance, Energy Sector Struggles

Information technology stocks advanced 2% at midday Wednesday.Shares of WiseTech Global (ASX:WTC) and Xero (ASX:XRO) rose 2% in recent trade.Meanwhile, the energy sector struggled, shedding 2%, as global oil demand is expected to plunge due to disruptions stemming from the ongoing Middle East conflict.Shares of Woodside Energy Group (ASX:WDS) fell nearly 3% in recent trade, while those of Santos (ASX:STO) were down over 2%.

ASX 200ASX:STOASX:WDSASX:WTCASX:XRO
Asia

Woodside, Santos Shares Rise as Crude Oil Futures Spike

Shares of Woodside Energy Group (ASX:WDS) rose almost 3% in recent trading on Monday, while those of Santos (ASX:STO) climbed nearly 2% as crude oil futures spiked after US President Donald Trump announced a blockade of the Strait of Hormuz.Peace talks between the US and Iran broke down over the weekend. Brent crude oil futures rose just over 7% to $101.91 per barrel.

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