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The Australian oil and gas industry welcomes the release of the report prepared by the Policy Transition Group (PTG) into key aspects of the Government’s decision to extend the coverage of the petroleum resource rent tax (PRRT) to projects currently subject to the petroleum royalty and production excise regimes.
The natural gas industry looks forward to working directly with the Climate Change Committee and as a member of its business roundtable to establish a policy response to climate change that is fair, national, environmentally effective, and able to deliver abatement at least cost.
The National Oil and Gas Safety Conference has heard that Australia’s oil and gas industry has undertaken comprehensive reviews of its practices and operations in response to last year’s Montara incident in the Timor Sea.
On 21 August 2009, a blowout from the Montara wellhead platform in the Timor Sea caused an oil and gas leak off the northern coast of Western Australia. Sixty-nine workers were evacuated when the blowout occurred. The wellhead platform continued leaking until 3 November 2009 (a total of 74 days), when the leak was stopped following a successful subsurface interception and then by pumping mud into the well and the wellbore cemented thus "capping" the blowout.
Monday, 19 July 2010
The final report of the Commonwealth Government’s National Resources Sector Employment Taskforce marks a major landmark for
Friday 2 July 2010
Today’s announcement to transition all Australia’s oil and gas industry into the petroleum resource rent tax (PRRT) regime represents a potentially logical approach to resource taxation reform according to the peak body representing Australia’s oil and gas industry, the Australian Petroleum Production and Exploration Association (APPEA).
Friday, 11 June 2010
Using more natural gas has to be the centrepiece of any credible policy seeking to reduce Australian greenhouse gas emissions according to Belinda Robinson, Chief Executive of Australia's peak gas body, APPEA.
Tuesday, 8 June 2010
Ms Belinda Robinson, Chief Executive, APPEA
Report - KPMG Gas Market Report
Mr Eric Streitberg, Executive Director, Buru Energy Limited
Australia’s oil and gas industry is concerned about the impact of the Australian Government's response to the national tax review on projects to be subject to the new scheme, including the fledgling coal seam gas sector in Queensland.
The industry, however, has welcomed the Australian Government’s decision to introduce a resource exploration rebate, reduce the corporate tax rate and retain the existing Petroleum Resource Rent Tax (PRRT) regime for existing offshore oil and gas projects.
The discussion paper released by the National Resources Sector Employment Taskforce, chaired by the Hon Gary Gray AO MP, Parliamentary Secretary for Western and Northern Australia, can make a major contribution to Australia’s ability to underpin the future skills and labour needs of the oil and gas sector.