Woodside Energy and ADNOC Expand LNG Amid Middle East Shipping Risks

Woodside Energy reported a 28% rise in second‑quarter revenue to US$4.12 billion as higher oil prices driven by the Middle East war boosted its earnings, despite a 9% fall in production volume. The company noted that heightened risk to shipping in the Strait of Hormuz forced its Louisiana LNG project to seek alternative steel supplies and implement mitigation measures for continued construction.

Meanwhile, Abu Dhabi National Oil Company (ADNOC) continued LNG exports from the United Arab Emirates despite similar Hormuz threats. An ADNOC tanker successfully navigated the strait with its location devices turned off, and the firm is expanding its fleet with new LNG carriers to meet rising global demand, even as regional buyers call for lower prices due to increased insurance costs.