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Oil and gas extraction IVA increased by 10.7% to $31.9b in 2014-15. However, this result largely reflects the calendar year 2014. The estimates in this publication are not adjusted for situations where businesses report to the ABS on an off-June reporting year and can be impacted by price fluctuations. For estimates adjusted to a June financial year basis, see the Explanatory Notes in this issue.
Falling sales were impacted by falling prices, with the Export Price Index for Petroleum, petroleum products and related materials falling by 24% between 2013-14 and 2014-15.
During 2014-15 total capital expenditure for the Oil and gas extraction industry was $59.3b, mainly comprising expenditure of $53.8b on dwellings, other buildings and structures.
Footnote(s): (a) Includes rent, leasing and hiring income. (b) Includes capitalised wages and salaries, salary sacrificed amounts and other remuneration; excludes the drawings of working proprietors. (c) Includes working proprietors and partners of unincorporated businesses.
Source(s): Australian Industry (cat. no. 8155.0)
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