Media Release: Australian Energy Producers comment on Petroleum Resources Rent Tax Bill

Attributable to Australian Energy Producers Chief Executive Samantha McCulloch:

We encourage the Government to work with the Coalition to ensure passage of the PRRT reforms.

The proposed PRRT changes provide greater certainty for the oil and gas industry to consider the future investment required to maintain both domestic and regional gas supply security for our customers.

Bipartisan support is important because Australia needs a strong and sustainable future for the gas industry and that requires stable and enduring policy settings.

The industry also welcomes bipartisan support for reform to the broken offshore environmental regulatory system threatening Australia’s economy.

Critical projects seeking approvals are being delayed for up to two years due to uncertainty over regulations while those approved by the national regulator are being overturned or delayed in court.

Regulations that provide clarity and certainty for industry while maintaining comprehensive and meaningful consultation with stakeholders are urgently needed.

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