Meeting the challenges of operating in Australia and internationally

This Case Study profiles the formation and market positioning of Woodside, Australia's largest publicly traded oil and gas exploration and production company. After reading this case study, the student should be able to:

• Understand that it makes good business sense to develop a market position in a global context 
• Explain some benefits of an Australian company's global expansion to Australia's economic and social fabric, and benefits that accrue to other economies and societies
• Grasp a range of terms and concepts relating to globalisation

Introduction

Woodside Petroleum Ltd. is Australia's largest publicly-listed oil and gas exploration and production company with a market capitalisation of more than A$30 billion (at 31 March 2006).

Contribution to the Australian economy

Woodside generates significant export income for Australia. LNG alone has become a major export product and in 2004-05 injected around A$3.2 billion into the Australian economy.

Drivers of globalisation

People around the world are more closely connected than ever before. Rapid advances in technology such as the Internet have made international communication much easier.

Social and ethical responsibilities

Woodside's commitment to social and ethical responsibilities is evidenced in the policies and codes that guide the behaviours of its Board of Directors, employees and contractors.

Conclusion

Woodside continues to develop its Australian heartland while embracing the opportunities in the global market.