IBISWorld Senior Industry Analyst Spencer Little said it is anticipated that 2015-16 will offer a much rosier picture for some of the nation’s largest industries, including oil and gas extraction.
“Additional capacity in the oil and gas extraction industry is projected to come on line in 2015-16, including some of the first east coast LNG export facilities,”? Mr Little said.
“These gas projects are expected to contribute significantly to capital expenditure in the mining division in 2015-16 and also drive strong export growth.”?
IBISWorld’s forecast places oil and gas growth at 12.8 per cent, bringing in approximately $A45 billion in revenue.