The Australian Petroleum Production and Exploration Association (APPEA) has lodged a federal budget submission with recommendations for initiatives the government could implement to build a more resilient economy through energy security. 

APPEA  shares the key elements of their 2022-33 Federal Budget Submission which was submitted to Treasury in late January.

APPEA are urging the Federal Government to use the 2022-33 Budget to encourage continued investment in secure, cleaner energy.

APPEA is calling on the government to consider reform opportunities that encourage continued investment in Australia’s oil and gas industry, ensuring energy supply and enabling a net zero future. These reforms reflect the priorities of our members and outlined in the attached one-page summary, will:

• Attract investment for sustained job creation and economic security,
• Support a decarbonised economy and net zero 2050,
• Deliver increased energy supply and security, and
• Protect and preserve Australia’s environment while maximising benefits to the Australian economy.

The submission calls for economy-wide investment allowances for large projects and new technology initiatives cutting carbon emissions; the immediate deductibility of wages and salaries; and the removal of barriers to oil and gas project restructuring among other recommendations.

A copy of their one-page Federal Budget submission summary, can be found here

The full submission can be accessed at this link.

Should you have any questions or need more information, please contact:

Simon Staples

Director - Commercial

0403 152 157 

sstaples@appea.com.au