People often decry how “Oil and gas companies don’t pay any tax! We’re practically giving away our natural resources.” While debate around what is the correct tax rate for mining, or any industry is valid, this assertion is just plain wrong. Lets look at the facts:

• Woodside paid US$349m in the Petroleum resource rent tax (PRRT) and US$763m in corporate income tax, totalling US$1,112m in FY25. This was off of a profit before tax of US$3889m.

• Chevron paid A$5.1 Billion in tax including royalties in FY24.

These figures come from the companies own reporting to shareholders. People can discuss tax rates or decarbonising. That is perfectly fine. However the arguments that they pay nothing are just plain wrong.