5 Biggest Energy Companies in Australia for 2024

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1. Woodside Energy Group Ltd (NYSE:WDS)

Market Cap: $37.24 billion

Woodside Energy Group Ltd is actively involved in the exploration, evaluation, development, production, and marketing of hydrocarbons. The company’s diverse product portfolio includes liquefied natural gas, pipeline gas, crude oil and condensate, and natural gas liquids.

In December 2023, Australian energy giants Woodside Energy Group and Santos initiated preliminary discussions regarding a potential merger, as reported by Reuters. This prospective merger, if realized, could represent a significant consolidation within the global oil and gas sector. The combined market value of the two companies currently stands at approximately $52 billion. The discussions come at a time when both companies are facing challenges with their domestic projects, including opposition from Indigenous communities and escalating pressure for decarbonization.

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