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Mandatory reporting to improve petroleum data

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25 January 2013

MANDATORY REPORTING TO IMPROVE PETROLEUM DATA The Minister for Resources and Energy, Martin Ferguson AM MP, today announced that the Australian Government will introduce a national mandatory reporting regime for petroleum statistics.

This will improve the quality and coverage of data on the production, sale, stock-holding and trade of petroleum across the Australian supply chain.

The recently released Energy White Paper 2012, which outlines the Government’s vision for energy policy over the next decade, recommended improving Australia’s petroleum statistics and consideration of mandatory reporting.

“Mandatory reporting will provide better coverage, making it a consistent and more comprehensive data source for Australia’s liquid fuel sector,” Minister Ferguson said.

The Australian Institute of Petroleum has backed the move.

“For some time, the Australian Institute of Petroleum has supported mandated data provision applying to all major fuel suppliers and importers as a means of improving understanding and assessment of liquid fuels supply in Australia,” Executive Director John Tilley said.

The International Energy Agency’s 2012 Review of Australia also recommended that Australia take necessary steps to improve oil and gas data reporting.

“Data for the Australian Petroleum Statistics has been provided on a voluntary basis until now and will continue until the mandatory reporting regime is in place,” Minister Ferguson said.

“I would like to thank the many companies who currently contribute data for the Australian Petroleum Statistics.

“The Government will review the completeness of current data collection and commence detailed consultations with stakeholders on the design and implementation of the new mandatory reporting regime for petroleum data immediately.”

Media contact: Elyse Gatt - 0407 198 136