The Victorian Auditor General later released its assessment on unconventional gas and concluded the state government did not have the regulatory capabilities or the knowledge to manage such an industry.
The Queensland Government scrapped all permit paperwork for mining and exploration firms in an effort to restore billions of dollars in unnecessary red tape expenditure and man-hours.
Woodside reported a 2015 half-year net profit after tax of approximately $A925 million, down 39 per cent on the previous corresponding quarter underpinned by operating revenue of approximately $A3.4 billion, down 28 per cent due to lower commodity prices.
The results were partially offset by the long-awaited approval from the federal government over the company’s plans to progress with the Browse floating LNG (FLNG) Project.
The conditional approval is valid until 31 December 2070, and allows for Woodside to install, operate and decommission the infrastructure for the development of the Torosa, Brecknock and Calliance gas fields.