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 jobs in WA during construction
- 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 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.
Natural gas producers' contribution to the economy
- 40% Petroleum Resource Rent Tax (PRRT) is a 40% profits-based resource tax
- 30% The profits of gas producers remain subject to the corporate income tax regime at 30% of taxable income for large corporates
MYTH:
FACT:
Domestic gas supplied to Western Australia
- 3863 petajoules Domestic gas supplied to WA since 1984
MYTH:
FACT:
Scarborough project: Managing emissions
- Less than 0.1% The Scarborough gas field contains less than 0.1% carbon dioxide
MYTH:
FACT:
.tmb-v2%20related.jpg?sfvrsn=8302b953_2)
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:
FACT:
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:
FACT:
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:
FACT:
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.
