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Oil and gas industry facing $60 billion clean up costs for their own rigs


Oil and gas industry facing $60 billion clean up costs for their own rigs
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New laws to force big gas producers to pay the cost of removing their offshore rigs from the ocean are expected to pass parliament this week, sparking an unlikely division between the federal government and the petroleum industry.
Resources Minister Keith Pitt said the total industry bill for decommissioning oil and gas rigs would hit $60 billion and his reform is needed to prevent a repeat of the Northern Endeavour incident, in which the decommissioning cost for an aging production vessel ended up on the Commonwealth’s books. ....

Australian Petroleum Production , Exploration Association , Northern Endeavour , Loffshore Petroleum , Greenhouse Gas Storage Amendment Bill , ஆஸ்திரேலிய பெட்ரோலியம் ப்ரொடக்ஶந் , ஆய்வு சங்கம் , வடக்கு முயற்சி , கடல் பெட்ரோலியம் ,