Clough director calls for oil and gas stability

Informa Insights

Oil and gas fundamentalsAustralia needs more stability in its oil and gas sector under the new government, according to an industry expert.

Kevin Gallagher, managing director of oil and gas contractor Clough, was quoted by The Australian as saying that he hoped prime minister Tony Abbott would bring much-needed confidence to an industry that has been plagued with uncertainty.

“I think one of the things that epitomised the last three or four years in Australia was the uncertainty and the continuous threat or perception of changing legislation and fiscal instability,” he explained.

“In order for Australia to improve its competitiveness on a global basis, and improve the prospects of our organisations to compete internationally, I think we need a period of stability now, fiscal stability, that can encourage investment back to Australia.”

Mr Gallagher was speaking at The Australian’s Path to Prosperity series in Perth last week, as he took part in a…

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