Energy & Resources Update

November 2010

In this edition

How the new minerals resources rent tax works

This proposed tax is one of the most significant proposed legislation impacting on the resources sector. We outline the technical design issues associated with the minerals resource rent tax and discuss the potential outcomes and implications for industry.

An overview of the new short term trading market for gas in NSW and SA

The Short Term Trading Market for natural gas has commenced operation in New South Wales and South Australia. We identify the participants and their roles and explain the operation of this 'hybrid mixture of market and physical operations'.

Service contract liability after Deepwater Horizon

This paper discusses reciprocal indemnities in model service contracts in light of the Deepwater Horizon incident in the Gulf of Mexico. In particular, we consider the common liability regimes in Australian offshore oil and gas model service contracts and whether it is time to change the reciprocal indemnity regime.

Achieving economically efficient access for energy and resources projects

Recent rulings handed down by the Australian Competition Tribunal in the long-running Pilbara railways declaration applications indicate that further review of Part IIIA is required.

A guide to foreign investment in Australia

This article discusses the core components of Australia's foreign investment regime, namely an overview of the Foreign Acquisitions and Takeovers Act and the government's most recent Foreign Investment Policy guidelines.