Future for Australian oil and gas industry unknown after election

THERE is nothing the business community hates more than business uncertainty, but on Monday many chief executives were left in limbo, after the Greens and ‘Teal’ independents took a stranglehold of both the Lower and Upper House. As the Count continued, it became apparent the Australian Labor Party would, however, form a majority with postals clearly favoring Labor.

Future for Australian oil and gas industry unknown after election Future for Australian oil and gas industry unknown after election Future for Australian oil and gas industry unknown after election Future for Australian oil and gas industry unknown after election Future for Australian oil and gas industry unknown after election

Anthony Albanese will become the 31st prime minister of Australia following the May election. The Greens and 'Teal' independents will make negotiations across the Lower House and Senate a nightmare for industry.

Australia may have voted for a majority ALP government, however the fallout for the oil and gas sector is still to be quantified, with the makeup of the Senate yet to be seriously determined.

Most read MARKETS