[1][2]: 48 Most petroleum consumed in Australia was imported but, between 1865 and 1952, various companies made a small proportion locally, from oil shale.
[4] In 1936, Sir William Gaston Walkley founded the Australian Motorists Petrol Company Limited (later Ampol) in response to Australians' concerns about perceived inequitable petrol pricing, and allegations of transfer pricing by foreign oil companies to limit their tax liabilities in Australia.
[8] Upstream activities typically include the exploration and appraisal, development and construction, and production of oil and gas.
The sector in Australia is dominated by international companies including Apache, BHP, Chevron, ConocoPhillips, ExxonMobil, Santos, Shell and Woodside.
[9][10] According to a 2009 report by the Australian Government's Productivity Commission, joint ventures are important in the petroleum industry, as they "facilitate risk sharing, and allow businesses to specialise and still accomplish the maximum development of a given field."
Joint ventures also allow "smaller businesses to be involved in production without raising the large quantities of capital required to develop a field alone.
[9] After upstream activities, petroleum products are sold to downstream customers, such as oil refineries, gas retailers, and overseas markets.