Ethics & Governance of Woodside

Running head: Ethics & Governance of Woodside
Ethics &Governance at Woodside Company
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Executive Summary
Woodside Petroleum Limited is a company which deals with gas and oil products. The
organization is duly engaged in marketing, and production, evaluation, and hydrocarbons. It is a
company which is divided into three distinct segments: Australia Oil constituting Wheatstone
LNG and the Floating Liquefied natural gas, North West Shelf project, and Liquefied Natural
gas. Some of its sections entail shipping and trading activities, and the activities conducted in
Canada, the United States, Myanmar and other parts in the world. It has a category dealing with
evaluation, exploration, development, sale, and production of the liquefied natural gas,
condensate, LPG and lastly crude oil from the Northwest Shelf enterprise. While on the other
hand, the Pluto Liquefied Natural Gas project also deals with some exploration, development,
sale, and production of the liquefied natural gas in expressly permitted localities.
Introduction
Woodside Petroleum limited was a company which was incorporated during 1954. The
Company was initially known as Woodside Oil Company. It owes its name from the town in
Woodside. Indeed it established as a company which focused its agendas on Victoria Gippsland.
Expanding its market base, Woodside teamed up with Burmah oil and shell to form the North
West Consortium (Palu, 2017). The Company underwent a serious metamorphosis ending up
being the current Woodside Petroleum Limited. The Company also indulges in the transaction of
numerous businesses under its broader objective. Foremost, Woodside Petroleum limited
operates under three categories, each in charge of different fields, namely: the production field,
the development field, and trading /shipping activities. The Company also comprises of some

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small agencies which help the dominant Company in dispensing its duties. The following
projects fall under Woodside Petroleum Limited: Pluto Liquefied natural gas, Northwest Shell
Project, Wheatstone Liquefied Natural Gas, and Browse floating liquefied natural Gas
(Bernecker, 2016). This business dynasty is situated at fifty kilometers Northwest of Australia.
The divisions within the Company's structure are geared towards assisting or aiding the
Company to achieve their target mission, vision, and goals. Currently, Woodside Petroleum
Limited Company is ranked at number forty-eight as one of the best Australian energy company
out of more two thousand companies which exist in Australia.
Woodside Petroleum Limited is a gas and oil global company, enjoying a broader base in the
entire universe appreciated for providing world-class abilities. It is also an organization which
enjoys a reputable profile and capabilities for estimation of thirty-five years of growth in the
horizon entailing unlocking value, cash generation, repeating success. Admittedly Woodside
Petroleum Limits is a company which is at the cusp in Western Australia for a first opportunity
they do deliver some quantity extra Liquefied Natural Gas at the right moment people in the
world require it. The Northwest Shell Project operating under the roof Woodside Petroleum
Limited is one of the best facilities around the world. It also acts as an ivory tower as it remains
to be at the stature of the world premiere. In their first quarter report, they released in April 2019
the production system was affected by outages and cyclones, an increment in sales revenue,
completion of the Pluto Liquefied Natural Gas, agreements signed by the heads, and additional
debt was secured. Woodside Petroleum Company is one of the father images among some of the
companies which conduct the same business just like them. This Company, which deals with oil
and gas products is one of the companies in Australia which has employed several people to
work with them hence improving the social class and capability of people. Indeed, for an

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economy of a country to strengthen its members and government should engage in a range of
business which will boost its GDP.
Review of Corporate governance at Woodside Petroleum Limited.
Woodside Petroleum Limited has an able board of directors who assists the Company in
achieving its mission, vision, and goal. The committee comprises of tenable directors who are
equal to the task underlying before them. The board of directors constitutes of both independent
and non-independent members. Among the people on the board, only the Chief Executive
Officer of the Company is an executive member while the rest of the directors are a non-
executive. For one to become a member of the board, he or she is required to have some
qualifications and experience. Both the board and its capable committee always work hand in
hand to ensure they continue to poses the right knowledge, balanced skills, diversity, and
experience that is necessary to steer the Company to achieve a high value of corporate
governance. The board also acts as the watchdog of Woodside Petroleum Limited company
management. The Chairman of the board of directors of the Company is always an independent
member or a non-executive member. The CEO is still a full-time job, thus making the CEO to be
an employee of the Company. As per the required composition of the board, the majority of its
members need to be independent members and not executive members. Last, the balance of the
board members should also give a broader perspective on the following areas of interest:
experience, diversity, expertise, and qualification. Directors who are members of the board are
always a symbol of knowledge, skill, expertise, and experience desirable or needed to steer the
Company to greater heights. In the board composition, it is the mandate of the national executive
members to bring both operational and international ideas that may enable the Company to
prosper.