WOODSIDE FACT CHECKER
The Scarborough Energy Project
- A$19 billion Will pay an estimated A$19 billion in direct Australian taxes
- A$90 million Has a commitment to spend more than A$90 million with Karratha business
- 3000+ jobs Will generate more than 3000 construction jobs in WA
- A$3.6 billion Awarded more than A$3.6 billion in contracts to local WA businesses
MYTH:
FACT:
Woodside is transparent about all of our business activities
Get the information on our key business activities, including our climate approach, the Scarborough project, Australian cultural heritage management, our tax contribution and more.
Taxes paid and benefits to the Australian economy
- A$5 billion Australian taxes, royalties and levies paid by Woodside in 2023
- 42% All-in effective tax rate in respect of our global profits (excluding exceptional items) in 2023
- A$40 billion Federal royalties and excise paid by the Woodside operated North West Shelf (NWS) project since starting production to 2023 (100% venture)
- A$20 billion Petroleum Resource Rent Tax (PRRT) paid by Woodside across our merged portfolio since the PRRT has applied to 2023
MYTH:
Woodside doesn't pay its fair share of taxes.
FACT:
Woodside is the largest payer of PRRT and among Australia’s top tax contributors, paying A$5 billion in Australian taxes, royalties and levies in 2023
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Managing environmental impacts
- 30 years 30 years of scientific research
- 2023 Awarded the Environment Project Excellence Award at APPEA
- 20 papers Funded research has resulted in over 20 papers in international peer-reviewed scientific journals
MYTH:
Woodside harms precious marine life and damages important reef systems.
FACT:
Strong partnerships, sound research and transparency are the key elements of Woodside's approach to the environment. All our activities are conducted under strict Australian and international regulations and management controls.
Scarborough Project: Managing emissions
- Less than 0.1% The Scarborough gas field contains less than 0.1% carbon dioxide.
MYTH:
The Scarborough Energy project will emit 1.6 billion tonnes of carbon dioxide.
FACT:
The Scarborough gas field contains less than 0.1% carbon dioxide. Woodside is committed to playing a significant role in the world’s energy transformation, through limiting our own emissions and reducing global emissions by supplying cleaner energy to a world that needs it.
Domestic gas supplied to Western Australia
- 3863 petajoules Domestic gas supplied to WA since 1984
MYTH:
Woodside doesn’t provide its fair share of domestic gas.
FACT:
Woodside has been supplying reliable, competitively priced domestic gas to Western Australia since 1984.
Scope 3 emissions targets
- US$5 billion Invest US$5 billion in new energy products and lower carbon services by 2030*
- 5 Mtpa CO2-e Take final investment decisions on new energy products and lower carbon services with a total abatement capacity of 5 million tonnes per annum carbon dioxide-equivalent (CO2-e) by 2030*
MYTH:
Woodside doesn’t have Scope 3 emissions targets.
FACT:
Woodside has two Scope 3 emissions targets.
Woodside Statement on Activism
Woodside is building a lower carbon business and we want to be part of an honest conversation about Australia’s energy needs now and into the future. Woodside fully supports respectful debate, including in relation to complex challenges like climate change.
