5 Biggest ASX Oil and energy stocks in limelight currently

These five ASX stocks highlight strong operations with ongoing growth projects across the sector. 

Woodside Energy Group Limited (ASX: WDS)

on 24 February 2026 reported record 2025 production of 198.8 MMboe whereas profit declined due to the weaker realised prices despite strong output.

The net profit reached $2.7 billion and underlying earnings were slightly lower. Dividend totaled 112 cents per share with payout maintained at 80% for shareholders.

Major projects progressed steadily with Scarborough near completion. Louisiana LNG advanced with partners reducing capital exposure while Trion construction continued toward planned startup timeline.

The results indicate stable operations but pricing pressure impacted earnings. The ongoing projects and cost discipline support future growth though near term performance depends on market conditions.

Viva Energy Group Ltd (ASX: VEA) 

on 24 February 2026 announced its FY2025 results with improved second half earnings supported by the stronger market conditions and operations.

Group EBITDA reached $700.9 million with first half weakness offset later. Commercial segment delivered record sales volumes showing steady and reliable income generation.

Retail business expanded through Liberty Convenience acquisition and new stores. System upgrades improved operations while refinery upgrades and fuel plant commissioning enhanced future margins.

Performance shows recovery after early challenges. Strong retail integration and stable demand outlook may improve earnings though refining margins remain uncertain in near term.

Beach Energy Ltd (ASX: BEA) 

on 9 March 2026 approved Moomba optimisation aiming over $400 million savings and lower emissions through improved infrastructure and efficiency.

On 10 February 2026, the company joined a joint venture gaining large Taroom Trough acreage expanding exploration position and enabling future drilling activity plans.
On 5 February 2026 half year results showed lower production due floods while revenue rose with LNG cargoes and stronger gas prices improving earnings.

Overall developments show cost focus and expansion strategy. Project progress and new acreage may support growth though operational risks like disruptions still affect performance.

Karoon Energy Ltd (ASX: KAR) 

on 13 March 2026 noted Brazil imposed a 12% export tax on oil sales effective immediately for the 120 days.

2025 Full Year results showed underlying profit of $107.5 million declined due weaker oil prices though lower costs partly balanced earnings pressure. 

Production costs reduced slightly while reserves increased extending field life. Net debt remained manageable with strong liquidity supporting investment without drawing lending facilities.

The outlook indicates stable cash flow from low cost assets. Near term output may face disruptions but operational improvements could lift performance later.

Ampol Ltd (ASX: ALD) 

on 2 March 2026 updated that ACCC is reviewing EG Australia deal with fewer sites now raising competition concerns.

FY2025 results showed EBITDA of $1.44 billion and net profit of $429 million with growth across retail fuels infrastructure and New Zealand operations.

ALD declared total dividend of 100 cents per share while maintaining balance sheet strength and progressing strategic portfolio changes and acquisition plans.

Complete performance reflects diversified earnings and improved refinery margins. Ongoing regulatory review and global uncertainty may influence near term outlook and deal completion timing.

(Source: Company Report)