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    Australia Oil & Gas Competitive Landscape


    August 3, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Australia Oil & Gas Competitive Landscape

      • 03 Aug 2022
      • Australia
      • Oil & Gas
      Competitive Landscape Summary

      Woodside Petroleum accounts for roughly 60% of Australia's total liquids production, owing to healthy condensates production from the three LNG export projects it holds stakes in, namely the NWS LNG, Pluto LNG and Wheatstone LNG. Santos' comparatively smaller condensates output means it ranks at second place, followed by Beach Energy.

      Woodside In The Lead
      Share Of Crude Oil & Condensates Production, %

      Source: Company data, Fitch Solutions

      The largest gas producer in Australia is Santos. It accounts for 56% of total gas production fuelled by strong production growth at feed-gas fields to its Gladstone LNG in Queensland. The company also holds a 10.6% stake in Darwin LNG.

      Santos Dominance Extends To Gas
      Share Of Gas Production, %

      Source: Company data, Fitch Solutions

      The number of active oil refineries in the Australian downstream sector is set to shrink to two (three if Casper Energy's Gladstone refinery comes through as planned) from four, following BP and ExxonMobil's decisions to shut their respective refineries.

      BP, Exxon Announce Exit Plans
      Share Of Refining Capacity, %

      f = Fitch Solutions forecast. Source: Company data, Fitch Solutions

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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