Woodside, BP get exploration go-ahead

The federal government has granted offshore petroleum exploration permits to four companies, including Woodside Petroleum and BP, which have committed to invest $682 million over the next three years.


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I notice that there is mention of a trade deficit in crude oil and refined products. Well with so much gas being exported and very little for local use and also value adding(refer Alcoa and Burrup Fertiliser's difficulty securing gas supplies), it no wonder there is a deficit. Australia needs to value add its natural resources.

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