We strive to strengthen the financial and operational performance of our existing business, as well as use strategic investments and environmentally responsible energy solutions to build value for our shareholders.
Stanwell's two voting shareholders are the Minister for Natural Resources, Mines and Energy and Minister for Trade, The Honourable Stephen Robertson MP, and the Treasurer and Minister for Employment and Economic Development, The Honourable Andrew Fraser MP.
Shareholding Ministers have a general right to obtain information from Stanwell about its operations by virtue of the accountability of the company to the government, Parliament and the public via the ministers.
Stanwell respects the rights of Shareholding Ministers and their representatives, having regard to the requirements of responsible government, and facilitates the effective exercise of those rights.
Stanwell actively consults with Shareholding Ministers and gives them ready access to balanced and understandable information about the company and corporate proposals.
This is achieved via the following mechanisms:
- Annual Report (containing those matters outlined in section 120 of the Government Owned Corporation Act 1993);
- Corporate Plan;
- Statement of Corporate Intent;
- Quarterly Reporting (pursuant to section 119 of the Government Owned Corporations Act 1993);
- Biannual Reporting
- Ministerial Briefing Notes, as required;
- fortnightly updates from the CEO; and
- regular meetings between Stanwell's Chair/CEO and the portfolio minister.
In accordance with Section 122 of the Government Owned Corporations Act 1993, Stanwell:
- keeps Shareholding Ministers reasonably informed of the operations, financial performance and financial position of the company and its subsidiaries, including the assets and liabilities, profits and losses and prospects of Stanwell and its subsidiaries;
- gives to Shareholding Ministers reports and information that they require to enable them to make informed assessments of matters relating to operations, financial performance and financial position of Stanwell and its subsidiaries; and
- if matters arise that in the Board's opinion may prevent, or significantly affect, achievement of Stanwell's objectives outlined in the Statement of Corporate Intent or targets under Stanwell's Corporate Plan, will immediately inform Shareholding Ministers of the matters and its opinion in relation to them.
Under the Right to Information Act 2009, Stanwell is exempt from additional disclosure obligations as detailed in Part 2 of the Act.