Australia

Investment & Operational Criteria

Key Indicators

Risk Premia

2.750

%

Outlook

Neutral

Rating

AA|1S|±

Ranking

2

Reserves (1P)

Total

mm boe

Oil

11

%

Summary

While there has been more recently a belief that the government is focused on supporting the industry with deeds and not just platitudes, but the recent application of foreign ownership rules has created a new barrier for entry to the country. Consequently, we downgrade our outlook to Neutral.

Updated

August 31, 2022

Country Basics

Region

Asia - Pacific

Reserves (1P)

Oil

mm bbl

Gas

bcf

Location

AustraliaAustralia

Oceania, continent between the Indian Ocean and the South Pacific Ocean.

Outline

Tax Regime
Type

Concession

Tax Regime
Notes

The fiscal regime that applies in Australia to the petroleum industry consists of a combination of corporate income tax (CIT), a petroleum resource rent tax (PRRT) and royalty-based taxation.

Investment & 
Operational
Climate

Australia has a well-established legal system for litigation and arbitration. The country is a world leader in the development and provision of dispute resolution mechanisms, and is a signatory to all the major international dispute resolution conventions. Australia has an AAA international credit rating with a well-developed, sophisticated financial market, regulated in accordance with international norms. Australia’s four leading banks are highly ranked internationally in terms of financial security and liquidity.

Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.

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