2.750
%
Neutral
3
mm boe
11
%
While there has recently been a belief that the government is focused on supporting the industry with deeds and not just platitudes, the recent application of foreign ownership rules has created a new entry barrier for oil and gas operators. Consequently, we downgraded our outlook to neutral.
April 23, 2024
Asia - Pacific
mm bbl
bcf
Oceania, continent between the Indian Ocean and the South Pacific Ocean.
Concession
The fiscal regime that applies in Australia to the petroleum industry consists of a combination of corporate income tax (CIT), a petroleum resource rent tax (PRRT) and royalty-based taxation.
Australia has a well-established legal system for litigation and arbitration. The country is a world leader in the development and provision of dispute resolution mechanisms, and is a signatory to all the major international dispute resolution conventions. Australia has an AAA international credit rating with a well-developed, sophisticated financial market, regulated in accordance with international norms. Australia’s four leading banks are highly ranked internationally in terms of financial security and liquidity.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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