Australian oil and gas industry condemn moves to increase royalties

AUSTRALIAN oil and gas explorers and producers have condemned moves by the Queensland Labor government to immediately impose a 12.5% royalty tax on industry, first announced last year.

Australian oil and gas industry condemn moves to increase royalties Australian oil and gas industry condemn moves to increase royalties Australian oil and gas industry condemn moves to increase royalties Australian oil and gas industry condemn moves to increase royalties Australian oil and gas industry condemn moves to increase royalties

It represents a rise from 10%, which would charge oil and gas operators an extra A$470 million over four years according to government figures.