Keith Pitt is a Liberal National Party MHR from Queensland and Federal Minister for Resources, Water and Northern Australia.
Decommissioning
If Woodside absorbs BHP's oil & gas assets new laws ensure the massive decommissioning liability falls to one of the companies, not the Australian taxpayer, unlike the Northern Endeavour.
Woodside Petroleum
Buying BHP’s Australian oil and gas assets could allow Woodside to escape its lost decade, but its shareholders and Australian taxpayers should count their fingers after the handshake.
Decommissioning
Australia's oil and gas industry has lost the fight not to bear the full cost of cleaning up after an oil vessel in the Timor Sea with a bankrupt owner.
Decommissioning
For every dollar Woodside saved in 2015 selling the Northern Endeavour, the oil and gas industry may have to pay back threefold after the Federal Government moved to protect ordinary taxpayers from the cost of decommissioning the vessel and oil field.
Decommissioning
Investors in Australia's offshore oil and gas industry will find it harder to avoid paying to clean up the assets they profited from under draft legislation released today.
Decommissioning
Resources Minister Keith Pitt warned ExxonMobil ceo Darren Woods he would tighten rules for selling offshore oil and gas assets and shortly after the US major canned its Bass Strait exit.
Decommissioning
ENI's plan to sell out of Australia and leave offshore decommissioning liabilities to others has struck trouble from regulator NOPSEMA and new Government policy proposals.
Decommissioning
The Northern Endeavor mess started with Woodside paying to rid itself of a rusty ageing asset, ended with a $362 million liability for the Government and in between was a regulatory shambles.
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If the Federal Government had been alert the financial failure of the Northern Endeavourur would not have been a surprise. Now Canberra has a huge bill for its omission.