27 May 2013

Oil and gas industry productivity limited by red tape

10:51 am on 27 May 2013

Productivity in Australia's oil and gas industry is being limited by red tape, lengthy approvals processes and the high Australian dollar according to a report issued on Monday.

The ABC reports Ernst & Young produced the report with the University of Queensland to identify how productive the industry is and what is holding it back.

The report found that, if conditions for the industry's climate do not improve, Australian projects will no longer be competitive and money will be invested in other countries.