Woodside and Santos reap bumper profits as Ukraine war drives energy prices higher

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Oil and gas companies’ record sales figures come as Nobel prize-winning economist Joseph Stiglitz calls for windfall profits tax

The results from Woodside and Santos come after coalminer Whitehaven predicts a record profit for the year of $3bn – up from $200m – off the back of record-high coal prices.The results from Woodside and Santos come after coalminer Whitehaven predicts a record profit for the year of $3bn – up from $200m – off the back of record-high coal prices.High energy prices due to Russia’s invasion ofOn Thursday, Woodside said revenue for the three months to the end of June was $3.

As part of the BHP deal, Woodside received $1.1bn in cash, which included the money in BHP Petroleum’s bank accounts immediately before the takeover.

 

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What taxes do they pay, where do they pay them and do they have complicated tax dodging mechanisms that confuse normal people? In what way does Australia benefit?

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