Woodside to pay $18b for hydrocarbon projects despite climate rebuke

Woodside Energy is expected to spend at least $18 billion over the next five years developing fossil fuel assets, and embark on overseas acquisitions, as it stares down investors who rejected its climate plans this week.

The bulk of the cash will be ploughed into developing the Trion deepwater oil project in the Gulf of Mexico. Analysts at UBS estimate the company will spend around $5.6 billion by 2028 on the project.