Further reading: Hungary\u2019s Magyar meets von der Leyen to game-plan unlocking frozen EU funds<\/a><\/p>\n
Featured ESG Tool of the Week: New South Wales reopens gas exploration amid energy and environmental debate New South Wales has opened new areas for gas exploration for the first time in a decade to revive the domestic industry and support energy grid stability. Application fees for exploration have been slashed from A$50,000 ($35,815) to A$1,000. Two frontier locations in the state\u2019s west are being opened, with a 2021 preliminary study suggesting there could be four specific sites.\u00a0<\/p>\n Minister for Natural Resources Courtney Houssos stated that gas remains important for heating, manufacturing, and electricity despite data showing gas for power generation is at a two-decade low.\u00a0<\/p>\n Environmental and farming groups criticized the plan, with NSW Farmers President Xavier Martin raising concerns about \u201c1,000 cowboys\u201d impacting biosecurity and water risks.\u00a0<\/p>\n *** Related Articles<\/p>\n Here is a list of articles selected by our Editorial Board that have gained significant interest from the public:<\/p>\n Albanese rules out new gas export tax in upcoming federal budget Australian Prime Minister Anthony Albanese has confirmed that the upcoming federal budget, to be handed down on May 12, will not include a new tax on existing gas export contracts. The government was not influenced by the pressure to introduce a 25% tax on gas exports due to concerns about alienating major Asian trading partners, such as Japan, Singapore, and Malaysia.\u00a0<\/p>\n In 2023-24, the commonwealth obtained $1.48bn in PRRT (Petroleum Resource Rent Tax), which is just a small fraction of export revenue because the 40% tax applies after capital costs are deducted. Albanese linked gas exports directly to Australia\u2019s fuel security, saying gas investment is vital to maintaining domestic gas reserves, particularly in Western Australia.\u00a0<\/p>\n Current contracts are protected, but the Prime Minister did not rule out future changes, such as a windfall tax or further PRRT adjustments.\u00a0<\/p>\n *** Italy considers extending fuel tax cuts amid energy costs Prime Minister Giorgia Meloni stated that Italy is considering extending the cut in fuel excise duties beyond May 1 to help households and businesses manage high energy costs. The government has already spent around 700 million euros to cut excise duties on petrol and diesel for just over 40 days. Italy has set aside almost 1 billion euros ($1.17 billion) to extend and reinforce tax breaks designed to encourage employers to hire staff.\u00a0<\/p>\n Meloni is calling for the European Commission to allow budget leeway for energy costs, which is specifically envisioned for defense and security spending. Under the National Escape Clause, the EU allows deficit increases for defense spending that must not exceed 1.5% of national output per year between 2025 and 2028. Italy planned to increase its defense spending by 0.15% of GDP this year and next, and by 0.2% in 2028. A 0.15% increase in defense spending is worth around 3.7 billion euros.\u00a0<\/p>\n ***
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\n![\"ESG](\"https:\/\/www.europesays.com\/italy\/wp-content\/uploads\/2026\/04\/elsa-guyader-q8qFaWNOHRM-unsplash-300x169.jpg\")
<\/a>New South Wales has opened new areas for gas exploration for the first time in a decade. Photo Credit: Elsa GUYADER<\/a><\/p>\n
Further reading: Australian state offers first gas exploration permits in a decade<\/a><\/p>\n
\n![\"ESG](\"https:\/\/www.europesays.com\/italy\/wp-content\/uploads\/2026\/04\/1280px-Anthony_Albanese_portrait-300x200.jpg\")
<\/a>Prime Minister Anthony Albanese has confirmed that the upcoming federal budget will not include a new tax on existing gas export contracts. Photo Credit: Wikimedia Commons<\/a><\/p>\n
Further reading: Anthony Albanese rules out gas export tax on existing contracts and criticises \u2018populist\u2019 campaign<\/a><\/p>\n
\n![\"ESG](\"https:\/\/www.europesays.com\/italy\/wp-content\/uploads\/2026\/04\/1280px-Giorgia_Meloni_at_the_European_Council_-_March_2023_17-300x200.jpg\")
<\/a>Giorgia Meloni stated that Italy is considering extending the cut in fuel excise duties beyond May 1. Photo Credit: Wikimedia Commons<\/a><\/p>\n
Further reading: Italy may extend excise duty cut on fuels, seeks more lenient EU budget rules<\/a><\/p>\n