1 January 2004
Australia: Industry body calls for action on plunging production
POLICYMAKERS are facing searing criticism from Australia's main oil and gas industry body for neglecting development of the upstream at the expense of the distribution and retail sectors. Oil and condensate production is forecast to drop by 50% over the next 10 years to around 325,000 barrels a day (b/d), because of a mixture of maturing acreage and financial obstacles to new field investment. But the Australian Petroleum Production&Exploration Association (APPEA) argues that an expanded upstream exploration programme could halt the need for increased petroleum imports. The Australian Bureau of Agriculture&Resource Economics projects that crude and condensate production will drop by
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
