EXPLORATION

Australian oil and gas exploration spending falls further despite soaring demand

DESPITE surging demand for new sources of oil and gas to replace the hole punched in global supply by sanctions on Russia in place since February, spend on exploration in Australia remains in a downward trend.

Australian oil and gas exploration spending falls further despite soaring demand

It has been a tumultuous two and a half years for the oil and gas sector with oil prices collapsing in 2020 amid the COVID-19 pandemic but then rising to highs not seen since 2014 over the last six months. ...

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