top of page
NATURAL GAS FOR
A STRONG ECONOMY
The oil and gas industry is a major driver of Australia's economic growth.
As well as underpinning Australia's energy security and being the main source of energy for Australia's manufacturing and mineral processing sectors, the industry is also a significant contributor to the national economy, workforce and tax revenue.*
*Commonwealth Treasury, Budget 2025-26, Budget Paper 1, p.120
¹ATO Statistics
²Australian Energy Producers 2024-25 Financial Survey, June 2025
³Commonwealth Treasury, Budget 2025-26, Budget Paper 1, p.120
The oil and gas industry is Australia's second-biggest corporate taxpayer, contributing $21.9 billion in taxes and royalties in 2024-25 to federal, state and territory governments that helps pay for schools, hospitals, roads and essential services.¹
To put this in perspective, that's enough to cover the annual cost of the Pharmaceutical Benefits Scheme - and takes the industry's tax and royalties contribution to almost $60 billion over the past three years.²
The Australian Tax Office has confirmed that "some oil and gas companies [are] now amongst the largest taxpayers in Australia."³
¹Australian Energy Producers 2024-25 Financial Survey, June 2025
²Commonwealth Treasury, Budget 2025-26, Budget Paper 1, p.120
³Australian Taxation Office, Corporate Transparency Report, November 2024
Australia's natural gas industry also supports around 215,000 jobs around Australia and contributes more than $105 billion a year to the national economy.*
The industry’s significant economic contribution delivers wide-ranging benefits, supporting businesses around Australia while strengthening regional communities, government revenues and energy security.
Many of the jobs the industry supports are based in rural and regional towns, providing a range of flow-on benefits including upskilling and educational opportunities, spending with local businesses, employment opportunities for First Nations people, and supporting local community groups.
*KPMG, Economic contribution of the Gas industry, Dec 2024
bottom of page