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OPERATIONS

Crossbench calls for 10% royalty

AUSTRALIA’S crossbench senators who hold the balance of power in the federal parliament’s upper house are showing a rare united front by calling on a 10% royalty on offshore gas production to be introduced to accelerate the recovery of revenue from oil and gas production.

Haydn Black
Gorgon LNG project.

Gorgon LNG project.

The move makes it more likely Treasurer Scott Morrison will seek to introduce some changes to the Petroleum Resources Rent Tax in the upcoming Commonwealth budget in an attempt to keep the fractious crossbench...

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