Australia’s Woodside Energy posted a record annual net profit after tax of US$6.5 billion for 2022, an increase of 228% on the previous year.

Underlying net profit after tax (NPAT) was $5.2 billion, providing the company with a strong balance sheet that positions it for major capital investment in future years, while returning value to shareholders, chairman Richard Goyder told shareholders at its AGM on Friday.

Earnings per share more than doubled in 2022 to 430 US cents, while Woodside’s total full-year dividend of 253 US cents per share was an 87% increase year-on-year.