OIL AND GAS EXTRACTION 2014-15


KEY DATA

		2013-14	2014-15	2013-14 to 2014-15
				%
Employment at end June	no.	22 257	22 001	-1.2
Wages and salaries	$m	4 373	4 592	5.0
Sales and service income	$m	38 469	40 369	4.9
Total income	$m	45 138	32 877	-27.2
Total expenses	$m	28 379	30 237	6.5
Operating profit before tax (OPBT)	$m	16 816	^2 761	-83.6
Earnings before interest, tax, depreciation and amortisation (EBITDA)	$m	20 067	23 477	17.0
Industry value added (IVA)	$m	28 816	31 891	10.7
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
Source: Mining Operations, Australia (cat. no. 8415.0)

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.