Australian Government Equity in New Oil and Gas Projects
Sector: Oil and Gas • Location: Australia
Source: Upstream Online
One Nation party leader Pauline Hanson proposed a Norway-inspired oil and gas policy for Australia, where the commonwealth government would take up to 30% equity in new upstream oil and gas projects, starting from the exploration stage. The policy includes abolishing the Petroleum Resource Rent Tax (PRRT) and introducing a 10% royalty model for new projects, with government profits placed in a sov
- Status
- Prospective
- Sector
- Oil and Gas, Government
- Location
- Australia
- Updated
- 22 Jul 2026
- Source
- Upstream Online
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Status
Original status | proposed |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
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Description
Description | One Nation party leader Pauline Hanson proposed a Norway-inspired oil and gas policy for Australia, where the commonwealth government would take up to 30% equity in new upstream oil and gas projects, starting from the exploration stage. The policy includes abolishing the Petroleum Resource Rent Tax (PRRT) and introducing a 10% royalty model for new projects, with government profits placed in a sovereign wealth fund called the Australian National Investment Wealth Corporation. The government would offer companies a 30% rebate on exploration expenditure in commonwealth waters in exchange for the equity stake, which would be overseen by a new commonwealth investment body. |
Original sector | Energy |
Location
Country | Australia |
Source
Source | Upstream Online |
URL |
More Details
Record type | Project |
Sector | Oil and Gas, Government |
Article published date | 2026-05-24 |
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