Gas industry claims debunked - Tax payment claims in context - War in Ukraine has seen oil and gas export revenue

Gas industry claims debunked Tax payment claims in context War in Ukraine has seen oil and gas export revenue out of Australia increase from $40 billion in 2020-21 to $107 billion in 2022-23. [...] Rod Campbell, May 2024 Oil and gas lobby group Australian Energy Producers (AEP) has published a media release claiming “record” government payments, with “industry expected to pay $17.1 billion in taxes in 2023-24”.1 This briefing note provides context for the AEP claim, and makes other criticisms such as the conflation of royalties and taxes and the unreliability of lobby group data. [...] AEP members exported $107 billion worth of oil and gas in 2022-23, $87 billion in 2021-22, and are forecast to bring in $73 billion in 2023-24.2 Prior to the Ukraine war, oil and gas export revenue was $40 billion in 2020-21. [...] Previous Australia Institute research estimated that the war resulted in up to $40 billion of additional, unearned oil and gas industry profits each year.3 Taxing such “windfall” 1 AEP (2024) Australian oil and gas sector delivers record contribution to government revenues in 2023-24, . [...] CONFLATING ROYALTIES AND TAXES AEP’s $17.1 billion figure consists of $12.8 billion in company tax, $1.1 billion in Petroleum Resource Rent Tax (PRRT), $2.6 billion in ‘excise, royalties and fees’ and $0.7 billion in ‘all other taxes’.