Industry Analysis & Industry Trends
The performance of Australia's Oil and Gas Extraction industry depends on several volatile factors, including fluctuations in oil and gas prices, exchange rate movements and annual production volumes. Over the past five years, the industry has benefited from favourable price movements, which have offset the downward trend in oil production in Australia. It has also fuelled growth. Both demand and production of liquefied natural gas (LNG) have begun to soar. The gas has become recognised as a cost-effective and reliable alternative source of energy as oil reserves dwindle and become more expensive and difficult to access. Since 2007-08, the main factors detracting from growth have been unfavourable movements in exchange rates and declines in demand due to the global economic downturn... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Oil and Gas Production industry is a growing industry. Although it employs well-established technologies, and the basic nature of its product (hydrocarbons) is not new, output is expanding more rapidly than GDP; the value of industry production is expected to grow by an annualised 11.0% over the decade through 2017-18, compared with annualised GDP growth of 2.4%.
Over that period, the volume of oil and gas production is expected to expand by an annualised 6.5%. One segment of the industry, LNG production (including production from coal seam methane), is driving that growth. LNG is increasing its share of global energy markets. It also has great scope for continued growth, given the relatively clean-burning nature of gas compared with alternative fuels such as coal... purchase to read more