Australia to introduce mandatory reporting regime for petroleum data

CANBERRA, Jan. 25 (Xinhua) -- Australia will introduce a nationwide mandatory reporting regime for petroleum statistics to improve the quality and coverage of data on the production, sale, stock-holding and trade of petroleum across the Australian supply chain, Minister for Resources and Energy Martin Ferguson announced on Friday.

According to a statement, Australian government will review the completeness of current data collection and commence detailed consultations with stakeholders on the design and implementation of the new mandatory reporting regime for petroleum data immediately.

"Data for the Australian Petroleum Statistics has been provided on a voluntary basis until now and will continue until the mandatory reporting regime is in place, "Ferguson said in a statement. "Mandatory reporting will provide better coverage, making it a consistent and more comprehensive data source for Australia's liquid fuel sector," he said.

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