The ASX energy shares that surged ahead of the rest this year

Why did these energy shares outperform this year?

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Key points
  • Despite a challenging year for the ASX energy sector, Paladin Energy, Whitehaven Coal, and Ampol managed to outperform.
  • Paladin Energy's shares surged 135% since April, driven by its Langer Heinrich mine's production gains and rising global uranium prices.
  • Whitehaven Coal and Ampol also saw robust performances, benefiting from strong coal prices and strategic acquisitions respectively.

It was a down year for many ASX energy shares in 2025. 

The S&P/ASX 200 Energy (ASX:XEJ) index fell approximately 4.3% this calendar year. 

For context, the S&P/ASX 200 Index (ASX: XJO) rose roughly 6.3% in the same period. 

However there were some winners amongst the large ASX energy shares. 

Here are three that rose above the rest in 2025. 

A young man looks like he his thinking holding his hand to his chin and gazing off to the side amid a backdrop of hand drawn lightbulbs that are lit up on a chalkboard.

Image source: Getty Images

Paladin Energy Ltd (ASX: PDN)

Paladin Energy is a uranium production company that focuses on developing and operating uranium mines globally.

It has rocketed 135% higher since 52 week lows in April and now sits approximately 18% higher than the start of the year. 

Paladin's revenue and share performance have been closely linked to higher global uranium prices, which are driven by strong demand for nuclear energy and tightening supply conditions.

The company's flagship Langer Heinrich Mine in Namibia has increased production significantly, with quarterly reports showing large year-on-year gains.

Recent guidance from Macquarie suggests there is still upside for these ASX energy shares. 

In November, Macquarie placed a price target of $11.10 on Paladin Energy shares. 

This indicates a further upside of more than 18% from current levels. 

Whitehaven Coal Ltd (ASX: WHC)

Another ASX energy stock that outperformed the broader sector was Whitehaven Coal. 

The company is an Australia-based coal miner that exports high-quality thermal coal (primarily used to generate electricity) and metallurgical coal (primarily used for steel making) from Australia to Asia.

It has risen an impressive 24% this year and 79% since yearly lows in April. 

This rise has been driven by steady production and strong global coal prices. 

These ASX mining shares closed trading yesterday at $7.80. Based on recent price targets from brokers, it appears it is now trading close to fair value. 

Ampol Ltd (ASX: ALD)

Another ASX energy stock that has performed well this year is Ampol.

It is the largest, and only Australian-listed, petroleum refiner and distributor in the country, with around 2,000 branded Ampol service stations across all states and territories.

Its share price has risen approximately 11.8% this year. 

This has been driven by key acquisitions and the execution of bold strategic moves.

Analyst ratings from TradingView indicate there could be more upside. 

Based on an average rating from 10 analysts, TradingView has a one year price target of $35.02.

This indicates a 9.7% upside from yesterday's closing price. 

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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