Woodside Energy Group Ltd Files 2024 Annual Report
Ticker: WOPEF · Form: 20-F · Filed: Feb 25, 2025 · CIK: 844551
| Field | Detail |
|---|---|
| Company | Woodside Energy Group Ltd (WOPEF) |
| Form Type | 20-F |
| Filed Date | Feb 25, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: annual-report, financials, energy, provisions
TL;DR
Woodside's 2024 20-F is in, showing provisions shifts and asset reclassifications. Check the details.
AI Summary
Woodside Energy Group Ltd filed its annual report on Form 20-F for the fiscal year ending December 31, 2024. The filing details changes in provisions, including $887 million used, $647 million increase due to macroeconomic factors, and $598 million offset by estimate changes. Intangible assets, such as software and contract assets, were reclassified for 2023 reporting.
Why It Matters
This filing provides investors with a comprehensive overview of Woodside's financial performance and strategic positioning for the past fiscal year, influencing investment decisions.
Risk Assessment
Risk Level: medium — As a major energy company, Woodside is subject to significant market volatility, regulatory changes, and geopolitical risks inherent in the oil and gas sector.
Key Numbers
- $887 million — Provisions Used (Represents the amount of provisions utilized during the fiscal year.)
- $647 million — Provision Increase (Macroeconomic) (Reflects the impact of macroeconomic factors on provisions.)
- $598 million — Provision Decrease (Estimates) (Represents the reduction in provisions due to changes in estimates.)
Key Players & Entities
- WOODSIDE ENERGY GROUP LTD (company) — Filer of the 20-F report
- WOODSIDE PETROLEUM LTD (company) — Former name of the company
- 887 million (dollar_amount) — Provisions used in the fiscal year
- 647 million (dollar_amount) — Increase in provisions due to macroeconomic factors
- 598 million (dollar_amount) — Offsetting changes in estimates for provisions
FAQ
What is the primary reason for the change in provisions reported by Woodside Energy Group Ltd?
The change in provisions is due to provisions used of $887 million, an increase of $647 million from macroeconomic factors, offset by a decrease of $598 million from changes in estimates.
How were intangible assets presented in prior periods compared to the current filing?
Intangible assets, including software and contract assets, were previously presented within other assets (non-current) and have been reclassified for 2023 to be presented on the same basis as in the current filing.
What is the significance of the 1.5% change mentioned in the filing?
A change of 1.5% represents 150 basis points and relates to the change in the present value of the contract, keeping all other variables constant.
When did Woodside Energy Group Ltd change its name from Woodside Petroleum Ltd?
The company changed its name from Woodside Petroleum Ltd to Woodside Energy Group Ltd on December 22, 1988.
What is the SIC code for Woodside Energy Group Ltd?
The Standard Industrial Classification (SIC) code for Woodside Energy Group Ltd is 1311, which corresponds to Crude Petroleum & Natural Gas.
Filing Details
This Form 20-F (Form 20-F) was filed with the SEC on February 25, 2025 regarding WOODSIDE ENERGY GROUP LTD (WOPEF).