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AAP
AAP
Business
Adrian Black

Fossil fuel group's clean energy spend goes up in smoke

Oil and gas producer Woodside has reported an increased first-half profit. (Joel Carrett/AAP PHOTOS)

Australia's biggest oil and gas company has slashed billions from its clean energy spending targets, citing cost discipline despite profits booming due to the US-Iran war.

Perth-headquartered Woodside has cut $US5 billion ($A7 billion) of its new energy investment targets and will review its Beaumont New Ammonia project.

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