Does ConocoPhillips pay tax in Australia?

Yes. ConocoPhillips Australia pays tax in Australia primarily through its 47.5 percent ownership of Australia Pacific LNG (APLNG), an incorporated joint venture that is taxed in its own right and pays both corporate income tax and royalties. ConocoPhillips Australia also directly contributes through payroll tax, FBT and GST.

We are currently the largest shareholder of APLNG with a 47.5 percent interest in the joint venture. APLNG is classified by the ATO as a Top 100 public and multinational taxpayer.

Importantly, both the federal corporate income tax system and Queensland’s royalty regime are designed to increase government revenue as international prices rise.

How much tax has APLNG paid?

Since the first LNG shipment in 2016 through to 30 June 2026, APLNG has paid AU$7.1 billion (gross) in income tax, royalties, stamp duties and QLeave contributions.

The table below provides an overview of the main taxes that APLNG has paid to the ATO and the Queensland Revenue Office. ConocoPhillips’ effective share of the gross tax amounts reported is 47.5%, reflecting its 47.5% ownership interest in APLNG.

In addition, with our shareholder support, APLNG invests more than AU$3 billion (gross) annually to develop gas resources, enabling it to remain a significant and long-standing “net contributor” to Australia’s domestic gas market.

Source: See Australia Pacific LNG, Tax Contribution and Transparency Reports.

What tax contributions come from the oil and gas industry in Australia?

• The oil and gas industry is one of the biggest tax paying sectors in Australia contributing AU$21.9 billion in taxes and royalties in 2024-25 to state and federal governments – equivalent to the annual cost of the Pharmaceutical Benefits Scheme. Source: Australian Energy Producers (2025), The Australian oil and gas industry’s tax contribution.
• Between 2010 and 2020, direct investments in both upstream gas and downstream LNG facilities in Australia was nearly AU$250 billion. Source: Department of Industry, Science and Resources (2024), Future Gas Strategy, p.9
• Every LNG tanker that leaves Gladstone represents around $4.5 million in royalties paid to the Queensland Government, and $11.2 million spent with local businesses. AEP 10-Years-of-QLD-LNG-Fact-Sheet

Why does the Australian Tax Office's (ATO) report show that ConocoPhillips has paid no company tax?

The ATO report does not capture the tax we have paid through our incorporated joint venture, APLNG. ConocoPhillips Australia is a 47.5 percent shareholder in APLNG and receives distributions only after APLNG has paid tax. Through that investment, ConocoPhillips Australia effectively contributed approximately AU$1.8 billion of the AU$3.8 billion in income tax and Queensland royalties paid by APLNG in FY 2025 and FY 2026.

Does ConocoPhillips pay PRRT?

The Petroleum Resources Rent Tax (PRRT) applies to offshore projects. Our major investment is APLNG, an on-shore CSG-to-LNG project, and as such the PRRT does not apply. Instead, APLNG contributes tax through the federal corporate income tax system and Queensland’s petroleum royalties.

In 2025/26, ConocoPhillips Australia discovered natural gas in the Otway Basin and is progressing a potential offshore development to supply the domestic market. If the project proceeds to production, it will be subject to the Petroleum Resources Rent Tax (PRRT).

In 2025/26, ConocoPhillips Australia discovered natural gas in the Otway Basin and is progressing a potential offshore development to supply the domestic market. If the project proceeds to production, it will be subject to the Petroleum Resources Rent Tax (PRRT).