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Thursday, 9 March 1972
Page: 595

Senator LAWRIE (QUEENSLAND) - I ask the Minister representing the Minister for National Development a question. In view of the big increase of the proved oil reserves in Australia as mentioned in today's Press will the Minister inform the Senate what percentage of the nation's oil requirements is now produced from Australian oil wells? Is this percentage likely to increase?

Senator COTTON - To the best of my knowledge it is approximately 69 per cent. I do not know whether the figure has changed much in the last few months. I do not know whether the increased state of the reserves has added anything to (his. Honourable senators should bear in mind that some of the new reserves are located in areas that have still yet to be fully developed and therefore they may not be being drawn out to help the situation. The problem is one in which there has to be imported some part of what might be called the heavy end of the requirement against the Australian production which fundamentally is on a light end. What I will do for the honourable senator is to get the precise information for him and let him have it.

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