Australia's Woodside Petroleum to Invest $5 Billion in New Energy by 2030

The oil major has announced four new energy projects in recent months.

Reuters

Woodside Petroleum Ltd. will invest $5 billion in new energy products by 2030 as it looks to cut emissions and tap into cleaner sources of fuel, Australia's biggest independent oil and gas company said on Dec. 8.

Companies are increasingly pivoting towards new energy and renewable sources as they race to decarbonize to meet emission targets and reduce reliance on fossil fuels, including LNG.

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