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Corporate governance
We believe that adopting and operating in accordance with high standards of corporate governance is essential for sustainable long-term performance and value creation.
We believe that adopting and operating in accordance with high standards of corporate governance is essential for sustainable long-term performance and value creation
Our approach1
Our approach to sustainability is incorporated in our Woodside Management System including our policies, procedures, Our Values and Code of Conduct.
Our Values underpin our mission, vision and strategic direction and are core to our governance framework. Woodside is committed to a high level of corporate governance and fostering a culture that values ethical behaviour, integrity and respect.
Our performance2
Our Board has oversight of our management and business activities. The Sustainability Committee (Committee) assists the Board to meet its oversight responsibilities in relation to our sustainability-related policies, strategies, risk management, reporting and practices. The Committee also monitors our compliance with relevant laws, regulations and accounting standards in respect of these matters.
The Committee reviews, and makes recommendations to the Board on, our policies, performance and reporting in relation to sustainability-related topics. It also oversees the annual publication of the Reconciliation Action Plan Report and Modern Slavery Statement.
As at 31 December 2025, the Committee comprised eight independent, non-executive directors. Details of the Committee’s key activities in 2025 are provided in the Corporate governance Statement.
The Nominations and Governance Committee assists the Board in discharging its responsibilities on matters relating to our corporate governance policies and practices. These principles and practices are reviewed regularly and revised as appropriate to reflect changes in law and developments in corporate governance. The Chair of the Board also chairs the Nominations and Governance Committee and all non-executive directors are currently members.
Privacy
Woodside is committed to recognising and respecting the privacy of our employees and stakeholders. Woodside implements a privacy program to ensure that we handle all personal information in line with applicable privacy regulations.
Tax transparency
Our approach to tax
As a global energy company, we have activities in a number of jurisdictions around the world. We comply with the tax laws and regulations applicable to our business; our publicly available Tax Policy makes this clear. In undertaking this commitment we consider the spirit in which the laws and regulations were legislated.
We believe in paying tax where value is created and applying arm’s length principles to our international related party dealings. We do not support the use of artificial arrangements or the transfer of value to low tax or so-called tax haven jurisdictions. We know that transparency and accountability are core to the interests of our stakeholders. Woodside’s tax transparency has been recognised as being within the leading group of our industry peers.3 In November 2024, the Australian Taxation Office (ATO) singled out Woodside as one of "a number of significant Australian businesses" that has "led the way, embracing voluntary transparency and investing in disclosures over and above agreed requirements"4 . In Australia, Woodside voluntarily reports under the Board of Taxation’s voluntary Tax Transparency Code. Part A of the recommended disclosures is published in our Annual Report and Part B on our website. Stable tax and fiscal settings are required for businesses in Australia to make the large, long-term investments that support energy security, decarbonisation and economic growth.
Tax governance
Woodside’s Audit & Risk Committee (A&RC) supports the Woodside Board in meeting its oversight responsibilities on tax matters. The A&RC achieves this through regular engagement with the Vice President Tax, which includes presentation to committee meetings and by reviewing policies and practices for managing compliance with tax laws.
An independent internal audit team undertakes periodic testing of the compliance, governance and control frameworks managed by the Woodside tax team.
In Australia, where Woodside is headquartered and has substantial economic activity, we are subject to the ATO's Justified Trust program, designed to assure that companies are paying the right amount of tax.
Woodside contributes to the policy debate on matters that are important to our business – this includes tax. We engage with tax policy setters and administrators in an open and constructive manner, and provide submissions to government and parliamentary requests, reviews and inquiries, including through our memberships with the Australian Energy Producers, the Business Council of Australia, the Corporate Tax Association and the International Tax and Investment Center. Refer to our recent submissions and reports available here.
Approximately
A$25 billion
paid in Australian taxes, royalties
and levies since 20111
Approximately
A$2 billion
paid in Australian taxes, royalties
and levies in 20251
Our Australian tax payments
The majority of our core producing assets are located in Australia where we generate most of our revenue and therefore pay the majority of our taxes.
As an energy producer in Australia, we are subject to a complex mix of taxes. This includes:
- Corporate income tax (30% on overall company taxable profits).
- Petroleum resource rent tax (PRRT) (40% on taxable profits of offshore oil and gas projects in Australia).
- Federal royalties (which are levied at 10–12.5% on the wellhead value of petroleum products from the North West Shelf (NWS) project).
- Federal excise (applies to up to 30% per barrel of crude oil and condensate from the NWS project).
The amount of tax we pay each year is dependent on various factors, including changes to production, operating fields and commodity prices impacting revenues, as well as cost of sales and capital investment impacting expenditures.
Woodside is subject to the PRRT deductions cap legislation which was enacted in May 2024, under which the Pluto and Wheatstone projects are paying PRRT.
Australian Taxation Office 2023–24 Report of entity tax information
The latest ATO data release (October 2025) shows Woodside was the eighth largest corporate income taxpayer in the country and the number one payer of PRRT.5
Our Tax Contribution
Approximately
A$25 billion
paid in Australian taxes, royalties
and levies since 20111
We are among Australia's largest taxpayers paying
A$3.5 billion
inclusive of taxes, royalties and
levies for the 2023-2024 year2
This could pay for the Australian Government'scommitment under the National Housing Accord,
which targets adding 1.2 million homes (equivalent to
the size of Brisbane) to Australia's housing supply.3
3. Budget 2024/25. Budget Paper No 1, page 121.
When Woodside performs,
Australia benefits
The 2023-24 ATO data ranks
our Contribution as
#1 for PRRT
#8 for corporate income tax
Since 2011 Woodside has paid approximately A$25 billion in Australian taxes, royalties and levies6. In this same time period, Woodside has also paid wages to Australian employees which have generated approximately A$5 billion in Pay as you go (PAYG) withholding – which goes back into towns, communities and cities all over Australia.
Woodside paid approximately A$2 billion in Australian taxes, royalties and levies to the Federal and State governments in 2025. These significant payments demonstrate that when Woodside performs, the Federal and State governments, and more importantly Australian communities, enjoy significant benefits too.
Did you know? Since the PRRT has applied, Woodside has paid approximately A$22 billion across our merged portfolio.7
Did you know? The Woodside operated NWS project has paid more than A$42 billion in federal royalties and excise since
starting production (100% venture).8
| Australian tax contribution by tax type, over the last 5 years (A$ million)9,10 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Corporate Income Tax | 1,036 | 2,868 | 3,521 | 989 | 333 |
| Petroleum Resource Rent Tax | 471 | 662 | 681 | 720 | 0 |
| Federal Royalties | 230 | 347 | 486 | 534 | 212 |
| Federal Excise | 83 | 117 | 148 | 392 | 48 |
| Offshore Petroleum Levy | 77 | 84 | 82 | n/a | n/a |
| Payroll Tax | 65 | 62 | 64 | 60 | 60 |
| Fringe Benefits Tax | 7 | 5 | 7 | 7 | 5 |
| Total | 1,969 | 4,145 | 4,989 | 2,702 | 658 |
Effective income tax rate
As a large Australian company, Woodside's taxable profits are subject to corporate income tax in Australia at 30%. However, a company’s effective income tax rate will not necessarily be 30% of its reported profit. This is due to differences between tax laws (which govern the calculation of taxable profits) and accounting standards (which govern the calculation of reported profit). In 2025, Woodside’s effective income tax rate on its reported Australian profits was 29.5%. Further details are contained in Woodside’s 2025 Annual Report.
Woodside also has activities in foreign jurisdictions and as a result pays taxes overseas – learn more in the section below, including our global normalised all-in effective tax rate.
2025 Australian Tax contribution (A$ Million)1
1. Figures are reported on a cash basis (net of any refunds received, for example, refunds of tax overpaid in prior years) and are round to the nearest million.
2025 Australian all-in effective tax rate1
1. Determined by total tax expense, royalties, excise, levies and other taxes, divided by profit before such taxes, adjusted for one off items.
Our international taxes
Woodside has activities in several jurisdictions outside of Australia, including the United States, Mexico and Senegal. Our Annual Report 2025 contains a full list of Woodside’s subsidiaries, their country of incorporation, tax residency and our ownership interest.
International tax payments
Woodside paid approximately US$600 million in international corporate taxes, royalties and production entitlements in 2025 (excluding Australia), as presented in the data table below.
| International tax contribution (US$ million), in 2024 | Taxes | Royalties | Production entitlements | Other | Total |
|---|---|---|---|---|---|
| United States | 106 | 268 | 11 | 385 | |
| Trinidad and Tobago | 0 | 82 | 82 | ||
| United Kingdom | 96 | 96 | |||
| Senegal | 0 | 53 | 53 | ||
| Singapore | 13 | 13 | |||
| Other | 1 | 1 | |||
| Total | 216 | 268 | 135 | 11 | 630 |
Woodside publishes annually a report on Payments to Governments.16 Woodside paid approximately US$1.9 billion to governments around the world in 2025. We are steadfast in our belief that governments and local communities should receive a fair return for the finite resources we extract.
Global all-in effective tax rate
Taking into account the complex mix of taxes applicable to Woodside (in addition to corporate income tax), Woodside’s normalised global all-in effective tax rate in respect of its 2025 global profits is approximately 45% compared to 48% in 2024.17
Related documents
Footnotes
Footnotes
