Oil is the world’s most important fuel and underpins our high standard of living with Australia having about 0.3 percent of the world oil reserves.
Australian oil refineries make a significant contribution to the economy and local communities, and support our key export industries and supply security. They produce around half of the transport fuels needed every day.
Australia produces most of its oil and gas from sedimentary basins in northern South Australia, inland Queensland, Bass Strait, offshore Western Australia.
Gas is a reliable, cleaner-burning fuel. It is flexible and plentiful and underpins growing domestic and export production sectors.
Australia’s rapidly expanding gas industry is driving enormous investment in this country, creating more than a hundred thousand jobs and delivering about $8 billion a year in tax revenue.