BAKU, Azerbaijan, November 5. Woodside Energy expects to generate more than $40 billion in adjusted operating cash flow (AOCF) from 2027 through 2032, according to the company's Capital Markets Day 2026 presentation.
The company said the forecast is based on its existing base business and sanctioned projects under construction: Scarborough, Trion, and Louisiana LNG. It assumes a long-term Brent oil price of $70 per barrel, a JKM LNG price of $10 per MMBtu and a TTF gas price of $9 per MMBtu.
Woodside expects annual AOCF to reach about $7 billion in 2032. It said the integrated Pluto and Scarborough asset is expected to contribute about $2.9 billion per year in 2027–2032, Trion about $1.1 billion per year in 2028–2032, and Louisiana LNG about $1.1 billion per year from 2032.
"We have returned nearly $13 billion to shareholders since 2022 while building a portfolio positioned to generate strong cash flows into the next decade," CEO Liz Westcott said.
The company noted that the figures are indicative and do not constitute guidance.
Woodside Energy, headquartered in Perth, is Australia's largest independent oil and gas company and is listed on the Australian Securities Exchange and the New York Stock Exchange. Woodside's three major projects under construction are Scarborough in Western Australia (final investment decision in 2021), Trion in Mexico (FID in 2023) and Louisiana LNG in the US (FID in 2025). In 2025, Woodside's Australian business generated $5.6 billion in EBITDA and its international business $3.4 billion. Under Woodside's new methodology, adjusted operating cash flow is net cash from operating activities adjusted for working capital, lease payments and dividends paid to non-controlling interests. Woodside held its Capital Markets Day 2026 in Sydney on November 5 and will hold a second event in New York on November 12. At last year's Capital Markets Day, in November 2025, the company set out its growth plans to 2032.
