This report does not constitute a rating action. MELBOURNE (S&P Global Ratings) Aug. 27, 2024-- Woodside Energy Group Ltd. 's ability to balance growth projects with financial policy objectives will be fundamental to rating stability over the next few years. Woodside's financial capacity will diminish due to its recently announced plans to acquire OCI Clean Ammonia Holding B.V. in the Netherlands for US$2.35 billion and U.S.-based liquefied natural gas (LNG) company Tellurian for US$900 million. However, it can absorb the immediate impact of an additional US$3.25 billion in acquisitions over the next 12 months. We expect capital expenditure (capex) to remain elevated well into the decade. Our base case assumes Woodside will incur capex of between US$5.0 billion and US$5.5
