Letter from Australia: Labor victory positive for CCS
Australia’s upstream industry could be poised to benefit from the election of a Labor government for the first time in almost a decade
The Australian federal election on 21 May removed the Liberal-National government that had held power since 2013, the past four years of which under Prime Minister Scott Morrison. As of 26 May, the Australian Electoral Commission had called Labor as the winner with 75 seats and votes still being counted. The party needs just 76 seats to form a majority government, and it appears almost certain to gain the numbers needed to govern without the support of crossbenchers. Climate change was a key issue for voters. The outgoing government only last year reluctantly committed to reaching net-zero emissions by 2050 and reiterated its 2030 target of 26-28pc below 2005 levels in the face of strong dom
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent






