Woodside CEO Meg O'Neill talks record earnings, the dividend outlook and union tensions

Описание: Despite oil and gas prices sliding significantly since hitting highs last year, locally listed energy giants continue to generate record profits, delivering income-hungry investors with hefty dividends when they need it most.

Woodside Energy Group (ASX: WDS) is one such company, having just reported its biggest first half ever, netting US$1.7 billion in profit on the back of its merger with BHP's petroleum business.

On Tuesday, the oil and gas giant announced it would be paying out a fully franked interim dividend of US 80 cents per share, up around 5% from this time last year. This is an 80% payout ratio at the value of US$1.5 billion.

It comes as tensions between the energy giant and a union alliance representing workers at Woodside's offshore platform of its North West Shelf facility reach a head.

Today, the two parties announced they have reached an in-principle agreement on pay and working conditions, potentially thwarting what would have been a major disruption to supply, particularly in Europe.

For more on Woodside's latest half-yearly result, as well as the outlook for energy from here, I sat down with Woodside chief executive Meg O'Neill as part of Livewire's C-Suite reporting season coverage.

We discussed the energy giant's latest deal with LNG Japan, its growth projects in the Gulf of Mexico, as well as its foray into the world of hydrogen in the US state of Oklahoma.

O'Neill also shares her outlook on the future of oil and gas, why she believes both will continue to play a major role in our lives for decades to come, as well as what has kept her captivated by the industry for the past three decades and counting.

You can read a transcript here: https://www.livewiremarkets.com/wires...

Timecodes:
0:00 - Intro
0:31 - Record results from Woodside's first half
1:41 - The outlook for dividends and whether an 80% payout ratio is sustainable
2:33 - What Woodside's deal with LNG Japan means for shareholders
3:36 - Other avenues of growth for the future
4:41 - Why Woodside is better placed than others to explore hydrogen production
5:59 - Oil and gas prices are still high
7:50 - Union tensions: Hopes of a fair deal and plans for disruption
9:10 - On keeping gas supply fair for Australians, while exporting to global peers
10:42 - The role of gas in a decarbonising world
11:39 - The future of oil and the risk of stranded assets
12:39 - Broker views (and what the two negative analysts are getting wrong)
13:41 - Meg O'Neill's career journey
15:20 - What companies need to do to improve diversity at the C-suite level