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Oil and gas industry in Australia - statistics & facts

Australia’s oil and gas industry has held a critical place in the development of the country’s present-day economy. With the production of liquefied natural gas (LNG), crude oil, and condensate, Australia makes a small but significant contribution to the world’s global oil and gas supply. The gross value added by Australia’s oil and gas extraction industry has continued to increase over the past decade.

Australia's oil and gas market

The exploration and production of products in the petroleum sector is predominately based in Western Australia. The Carnarvon and Perth Basins in this region produced thousands of megaliters of crude oil. In terms of natural gas, billions of cubic meters were produced across the entire country. Australia produces more natural gas than it consumes; the population only consumed about a third of the production volume. Australia recently overtook Qatar as the world’s biggest LNG exporter. With increasing global demand, the export volume of LNG has tripled since 2008. Australia’s biggest LNG export markets included Japan, China, and South Korea. In contrast, the crude oil export volume has fluctuated over the past decade. The characteristics of Australian oil tend to be more suited to export markets. Therefore, Australia imports a significant volume of crude oil for its own refinery processes.

Environmental influence on the industry

The surge in interest in renewable sources of fuel will inevitably shape the future of this industry in Australia. Experts agree that in some cases, renewable technologies are now at a point where they are economically viable within the industry. Oil and gas operations may soon be powered by renewable technology such as solar energy. While there has been a shift towards more environmentally conscious oil and gas operations, there is still tension between industry participants and environmentalists. Recently, the deepest offshore drilling operation in Australia was approved by regulators. U.S. owned Esso planned to drill for gas as deep as 2,300 meters off the Victorian coast. Opponents to the project have argued that the high risk involved with this type of operation can lead to disastrous environmental accidents.

Interesting statistics

In the following 8 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Oil and gas industry in Australia".

Oil and gas industry in Australia

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Oil production and consumption



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