The body representing Australia’s upstream oil and gas industry has issued a mixed response to the Australian government’s budget for the upcoming financial year, which commences 1 July.

The Australian Petroleum Production & Exploration Association (APPEA) said it was disappointed the government had ignored measures outlined in its pre-budget submission, such as making wage costs immediately tax deductible for capital-intensive industries.

It also hit out a levy the government intends to introduce for the industry to pay for the decommissioning of the Laminaria-Corallina oil fields and associated infrastructure, following