Elouise Fowler

But the gas giant says the result sets it up to complete major projects including a carbon capture and storage scheme which is due to start later this year.

Woodside’s revenue fell to $US2.97 billion in the March quarter from $US4.33 billion as the average price of oil and gas sold was crunched 25 per cent.

Shares shot up 9 per cent in ASX-listed manganese producer Jupiter Mines after South32 confirmed global supply of the ore will be curtailed.

Rod Sims reckons the Commonwealth’s policy could increase the cost of renewable power and threaten Australia’s “green” steel ambitions.

This massive outlay comes as investor opposition to the oil and gas giant’s climate plan has grown over the past two years.

Anglo American investors were already cool on BHP’s offer as the race between global mining heavyweights for copper assets hots up.

Shares in BHP have dropped 5.2 per cent since it made the $60 billion bid for Anglo-American that was swiftly rejected last week.

Lower global prices for oil and gas dragged down revenue.

Clean energy experts warn moves that limit Chinese investment in Australia could undermine the Albanese government’s green energy goals.

The commercial explosives maker has reported a 10 per cent increase in earnings, beating analyst estimates.