Foreign oil and gas giants that have invested in Queensland’s $80 billion LNG export sector could be saddled with individual obligations to supply local customers under the domestic gas reservation scheme proposed by the Albanese government.

The chairman of global oil giant Chevron says Australia is a prime example of a country that has risked fuel shortages because of poor policy choices, adding it would be too expensive to develop new local reserves.

Bold, Resilient, and unmistakably West Australian.

Departing Lynas Rare Earths chief executive Amanda Lacaze is the new chairman of the Minerals Council of Australia, and will use the prominent position to call on governments to encourage investment in the nation’s biggest export sector.

Fossil fuel spending in 2026 will hit its highest levels in a decade, with annual growth in renewables set to fall as the Iran war pushes Asian nations to keep coal power plants running for longer to boost energy security, the International Energy Agency said.

Labor’s proposed gas reservation scheme amounts to “nationalisation by stealth”, the head of one of the country’s largest domestic producers has warned, in one of the sector’s strongest attacks yet on the Albanese government’s proposed gas reservation reforms.