Australia/Pacific: Industry watchers expect the worst
This article presents the outlook for the Australia/Pacific area with respect to petroleum. The main observations are: ATEA forsees Australia drilling declining by nearly 50% this year compared to last; With no tax relief in sight for crude, major Aussie oil projects are delayed; New Zealand's leasing moratorium has ended, and licensing policies have improved; Australia's self-sufficiency dream vanishes as Bass Strait exports dwindle; Gulf has more finds onshore Papua/New Guinea, but well economics still questionable; Australian gas projects enjoy some insulation from poor crude markets; Jabiru find in Timor Sea due onstream, and Northwest Shelf LNG export plans continue; Australia's largest operators each announce budget cuts; rig count continues to plunge.
- OSTI ID:
- 5246069
- Journal Information:
- World Oil; (United States), Journal Name: World Oil; (United States) Vol. 203:2; ISSN WOOIA
- Country of Publication:
- United States
- Language:
- English
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AUSTRALASIA
BUDGETS
DRILLING
DRILLING RIGS
ECONOMIC ANALYSIS
ECONOMICS
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
INDUSTRY
LIQUEFIED GASES
LIQUEFIED NATURAL GAS
MARKET
MINERAL RESOURCES
NATURAL GAS
NATURAL GAS DEPOSITS
NATURAL GAS WELLS
OFFSHORE DRILLING
OIL WELLS
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PRICES
PRODUCTION
RESOURCES
WELL DRILLING
WELLS