Australian Economy 29 March 2026 - 3 May 2026

Woodside’s $30 Billion Browse Gas Bet Hits Decision Point as Australia Eyes Bigger Tax Take
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Woodside’s $30 Billion Browse Gas Bet Hits Decision Point as Australia Eyes Bigger Tax Take

Woodside Energy Group’s $30 billion Browse gas project is edging closer to a potential federal go-ahead, possibly as early as next month. The massive undeveloped offshore gas resource is back on the radar for investors, just as Canberra gears up to reveal a lift in offshore gas-tax revenues. Timing is key here. Woodside is pushing ahead with major, long-term developments just as Australia’s gas policy is pulled in different directions: supply security, household energy costs, export cash, and climate concerns all competing for priority. Treasurer Jim Chalmers says the Petroleum Resource Rent Tax, which targets offshore oil and gas profits, is set to generate more revenue than earlier estimates. Still, the government isn’t planning to alter current tax rules.
May 10, 2026
Macquarie’s Mortgage Surge Before Results: Why Australia’s Big Banks Are Watching
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Macquarie’s Mortgage Surge Before Results: Why Australia’s Big Banks Are Watching

Macquarie Group Ltd’s banking division posted the steepest rise in Australian household mortgages for March, putting a fresh spotlight on the investment bank’s retail lending segment ahead of full-year results due this week. Macquarie Bank’s mortgage portfolio climbed A$3.6 billion in March, up 2.1% to A$173.7 billion, according to Canstar, which referenced data from the Australian Prudential Regulation Authority. That lift pushed Macquarie into fifth place among Australia’s biggest home lenders—and marked it as the fastest-growing authorised deposit-taking institution, or ADI, a term covering banks and other deposit-holding lenders.
May 3, 2026
Santos Limited Rushes Crude to Australian Refineries as Canberra Bolsters Fuel Security
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Santos Limited Rushes Crude to Australian Refineries as Canberra Bolsters Fuel Security

Santos Ltd has accelerated a portion of a 575,000-barrel Cooper Basin crude shipment for Viva Energy's Geelong plant, while shifting a separate 150,000-barrel Varanus Island lot to Ampol just last week, according to reports from Upstream and The Australian on Sunday. The outlets noted the transactions are aimed at boosting local refining capacity as fuel supply pressures mount in Australia. The issue is front and center after Canberra announced on Saturday a move to amend export-finance laws, letting the government backstop private-sector fuel buys—this comes as Middle East turmoil rattles supplies in a nation that imports around 90% of its fuel. Prime Minister Anthony Albanese outlined “new powers” aimed at “get[ting] fuel here,” and Energy Minister Chris Bowen put Australia’s
March 29, 2026