This article discusses the 5 Biggest Energy Companies in Australia for 2024. If you want to get detailed analysis on energy sector, you can head on to 20 Biggest Energy Companies in Australia for 2024.
5. Ampol Limited
Market Cap: $5.95 billion
Ampol Limited is a leading petroleum company engaged in the purchase, refining, distribution, and marketing of petroleum products across Australia, New Zealand, Singapore, and the United States. The company operates through three main segments: Convenience Retail, Z Energy, and Fuels and Infrastructure.
As part of its commitment, Ampol has maintained its longstanding partnership by contributing $600,000 worth of fuels annually, providing aviation fuel to power the Service’s fleet of AW9139 helicopters. In March 2024, Ampol announced the extension of its 30-year partnership with Westpac Rescue Helicopter Service for an additional five years, demonstrating its ongoing dedication to supporting critical emergency services.
4. Washington H. Soul Pattinson and Company Limited
Market Cap: $8.24 billion
Washington H. Soul Pattinson and Company Limited operates as an investment company, focusing on investing across various industries and asset classes in Australia, including natural resources.
In December 2023, Perpetual Ltd., a fund manager, declined a $2.3 billion takeover bid from Australian investment firm Washington H. Soul Pattinson & Co. Perpetual asserted that the offer significantly undervalued the company.
3. Origin Energy Limited
Market Cap: $10.22 billion
Origin Energy Limited, headquartered in Australia, operates as an energy company engaged in various activities, including the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and the sale of liquefied natural gas.
In February 2024, Australian utility Origin Energy expanded its portfolio through the acquisition of compatriot renewables developer Walcha Energy. This acquisition brought with it a significant 1.3GW project pipeline consisting of solar and wind assets. Among these assets are the 450MW Salisbury solar project and the 868MW Ruby Hills wind farm, both located in the state of New South Wales (NSW).
2. Santos Limited
Market Cap: $15.8 billion
Santos Limited operates as an energy company, engaging in the exploration, development, production, transportation, and marketing of hydrocarbons in Australia and Papua New Guinea. The company’s product portfolio includes crude oil, liquefied petroleum gas, ethane, coal seam gas, liquefied natural gas, condensate, and natural gas.
In January 2024, Santos Ltd.’s $5.8 billion Barossa offshore gas project received significant support as the Australian Federal Court dismissed a legal challenge initiated by a group of Tiwi Islanders. The challenge aimed to halt the construction of a key pipeline crucial for the project’s development.
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.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 12 Biggest Canadian Mining Companies and Top 25 Oil Exporting Countries in the World in 2024.
