Australia approved seven new offshore oil exploration licences

According to Dow Jones on November 1, the Australian government is moving forward with a plan to promote oil and oil exploration, approving seven new exploration licenses
located in the western and southern coastal areas of the country.
Australian Resources Minister Matt Canavan finally approved exploration
in Western Australia, Victoria and off the coasts of Anshi Island and Cartier.
"The grant of seven new licences to small, medium and large exploration companies committed to new exploration activities in Australia demonstrates investors' confidence in
our offshore oil and gas industry," he said.
In May, Canavan said he was concerned about energy supplies because Australia's oil production has been worryingly declining
over the past few decades.
Last year, the Australian government re-issued two exploration licences to Equinor, the Norwegian state oil company, which were abandoned by BP, to explore
in the environmentally sensitive Great Australian Bay.