Lack of clarity on the PRRT

Projects such as the Browse development could be left in limbo.

Projects such as the Browse development could be left in limbo.

Despite millions being allocated to energy in the 2018-19 Budget, the oil and gas industry has been left hanging with no certainty around changes to the Petroleum Resource Rent Tax (PRRT).

It was widely reported that Treasurer Scott Morrison would announce changes to the PRRT when he delivered his budget speech on Tuesday night.

However, with nothing mentioned on the PRRT, more than $50 billion worth of proposed projects are now in limbo, according to the Australian Financial Review (AFR).

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