Woodside Fact Checker
Taxes paid and benefits to the Australian economy
- A$4.1 billion Australian taxes, royalties and levies paid by Woodside in 2024
- 48% All-in effective tax rate in respect of Woodside's global profits (excluding exceptional items) in 2024
- > A$40 billion Federal royalties and excise paid by the Woodside-operated North West Shelf Project since starting production to 2024 (100% venture)
- > A$20 billion Petroleum resource rent tax (PRRT) paid by Woodside across its merged portfolio, since the PRRT has applied to 2024
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Woodside is transparent about all of its business activities
Get the information on Woodside's key business activities, including its climate approach, the Scarborough project, Australian cultural heritage management, its tax contribution and more.
North West Shelf Project Extension
- A$40 billion The project has paid over A$40 billion in royalties and excise
- > 6000 petajoules The project has contributed over 6000 petajoules of domestic gas to Western Australia
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Domestic gas supplied to Western Australia
- 3863 petajoules of domestic gas supplied to Western Australia since 1984
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The Scarborough Energy Project
- A$52.8 billion Taxation and royalty payments estimated to be generated in Australia between 2024 and 2056
- A$90 million Committed to spending more than A$90 million with Karratha businesses
- A$3.6 billion Awarded more than A$3.6 billion in contracts to local Western Australian businesses
- 8.5 million Expected to be large enough to power more than 8.5 million homes for more than 30 years*
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The gas industry's contribution to the economy
- A$17.1 billion paid in taxes and royalties in 2023–24
- A$105 billion contributed to the national economy
- 3.7% of GDP comes from the gas industry's direct economic contribution
- 215,000 people employed across the economy
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The role of gas in Australia
- 2.2% Domestic natural gas demand in WA is forecast to increase by an average of 2.2% each year between 2024 and 2033^
- 2028 Southern states are forecast to face seasonal supply gaps from 2028**
- 2030 Gas supply deficit is expected to become more pronounced in WA from 2030^^
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Scarborough project: Managing emissions
- Less than 0.1% The Scarborough gas field contains less than 0.1% carbon dioxide
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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
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Scope 3 targets
- US$5 billion Invest US$5 billion in new energy products** and lower-carbon services* by 2030
- 5 Mtpa carbon dioxide-equivalent 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 by 2030
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Woodside Statement on Activism
Woodside is building a lower carbon business and wants 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.
