Woodside's woes worsen as climate pressure mounts
Woodside is the worst performing large cap stock in Australia over the past year, with a 33.5% decline amid mounting climate pressure.
Pressure is mounting on Australia’s largest oil and gas producer Woodside to define an investor-friendly growth trajectory as its flagship Browse development faces intensifying opposition from environmental authorities and activists and a recent US acquisition received a tepid response from weary shareholders.
Woodside is the worst performing stock in the ASX/20 over the past 12 months, declining 33.5% compared to an 8.34% gain for the large cap index.
Over that period the company's climate woes have worsened, with shareholders last year voting down its transition plan and the $25 billion Browse offshore LNG project facing opposition from the WA state environmental authority and climate groups.
The mounting opposition has raised serious questions about Woodside's ability to indefinitely continue its core business inside Australia of natural gas extraction.
