Fortune afloat: booming LNG exports are prompting a push for more petroleum exploration. Source: INPEX Australia
Exploration is back on the agenda in Australia
A landmark energy report warns that Australia must go back to drilling
Booming liquefied natural gas exports are making exploration a renewed priority in Australia, despite years of musical chairs in the federal government. This period of chop and change bedevilled the debate over the oil and gas industry's long-term role in energy supply. Just as the sector was in despair following the toppling of prime minister Malcolm Turnbull on the eve of a hard-won long-term agreement over its role in energy supply, two government reports have given the upstream industry hope. In early October, the Resources and Energy Quarterly showed that LNG exports earned Australia nearly A$38bn ($27bn) in 2017-18, up 36%, and are forecast to rocket again to A$48.4bn in 2018-19. If ga
Also in this section
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
