[no bill text published] Domestic reserve agreement requirements for petroleum production licencees
Offshore Petroleum and Greenhouse Gas Storage Amendment (Domestic Reserve) Bill 2026
Private Member's Bill1st House
2nd House
Law
Introduced by: Pauline Hanson (PHON)
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Petroleum production licencees must enter into a domestic reserve agreement with the Commonwealth.
The agreement must last for at least 10 years.
Licencees must reserve petroleum for the Commonwealth; this amount must equal 15% of the quantity they exported the previous year.
The Commonwealth can transfer the rights to use this reserved petroleum to a State or Territory.
The government can make entering into these agreements a condition for granting a petroleum production licence.