Keith Pitt

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Keith Pitt is a Liberal National Party MHR from Queensland and Federal Minister for Resources, Water and Northern Australia.

Federal Government controlled Northern Endeavour oil vessel rusting in the Timor Sea in mid-2021

Decommissioning

BHP and Woodside deal will not escape tougher decommissioning laws

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.

Goodwyn A platform of the Woodside-operated North West Shelf project that BHP has an interest in.

Woodside Petroleum

Woodside + BHP Aussie oil & gas: inspiration or desperation?

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

Oil and gas producers to start paying up to $1B to decommission the Northern Endeavour

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

Offshore oil & gas producers to pay for $1B Northern Endeavour cleanup

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

Pitt to oil and gas: you can sell assets but not escape liabilities

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

Australia told ExxonMobil CEO 'no easy exit' before $3B Bass Strait sale canned

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 Australian clear out prompts clean up order

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

Federal Govt regulates poorly and gets $360M Northern Endeavor clean-up bill

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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Government asleep as offshore failure developed

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.