Oil and gas industry contributing greatly to economy - Appea
PERTH (miningweekly.com) – Australia’s oil and gas industry contributed some A$27-billion to the country’s economy in 2016/17, new data from the Australian Petroleum Production & Exploration Association (Appea) reported this week.
“The economic footprint of the oil and gas industry goes far beyond its production wells and eight liquefied natural gas (LNG) plants. Oil and gas is not just a resources industry, the industry supports a vast supply chain of businesses in manufacturing, services and construction,” said Appea CEO Dr Malcolm Roberts.
“That is in addition to the hundreds of thousands jobs in manufacturing, transport and other industries which are supported by the oil and gas we produce.”
The latest Appea member survey data shows that the oil and gas industry purchased more than A$27-billion in goods and services from local businesses in 2016/17.
Furthermore, the industry employs directly more than 32 000 Australians, with another 70 000 jobs created elsewhere in the economy supporting the industry.
“With industry wages more than double the national average, it is not surprising that the industry paid more than A$5.3-billion in wages to its direct employees in 2016/17,” Roberts said.
“These are impressive numbers in anyone’s language. With the working life of projects measured in decades, the benefits will continue for many, many years.”
Australia’s oil and gas industry has invested more than A$300-billion in the economy over the last decade, and an October 2017 forecast demonstrated over A$230-billion worth of projects are in the pipeline ahead.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
