Bally’s chief executive, John Higgins, has made the case for the need for the Government to “put oil prices back up again” following a rise in the cost of oil, after oil prices fell sharply over the weekend.
“The oil price has been going down over the last year. “
“So, I think we’ve got to be prepared to look at the costs of running a business. “
“We’re also going to be looking at other areas that are cost of production, and if we have to cut the costs we can, I’d say, it’s the cost for the oil to go up again.” “
Read more:Bally Systems chief executive John Higgins speaks to reporters ahead of a news briefing on the company’s oil refinery project at its Rialto facility in Australia’s south-east on Monday. “
We’re also going to be looking at other areas that are cost of production, and if we have to cut the costs we can, I’d say, it’s the cost for the oil to go up again.”
Read more:Bally Systems chief executive John Higgins speaks to reporters ahead of a news briefing on the company’s oil refinery project at its Rialto facility in Australia’s south-east on Monday.
The company also announced that it had completed its first new refinery in Queensland, in Townsville, and that the next round of refineries would be in the Western Australian city of Wollongong.
Read More:Balleys Chief Executive John Higgins is speaking at a Bally Technology press conference at the company headquarters in Bally, Australia, on Monday afternoon.
Bally Technologies Chief Executive is speaking to journalists ahead of an event on the Bally technology platform at the Balys Bally Technologies HQ in Brisbane on Monday February 2, 2018.
John Higgins speaking to reporters before BallyTechs news conference.
He said that while Bally was “totally reliant” on the Government’s support, he was not concerned about the Government giving in to the “political correctness” that was “stifling investment”.
“We’re totally reliant on the support of the Government and they’ll always listen to our feedback, we’re in the process of setting up a company,” Mr Higgins told reporters.
“But I think that we have the right to be at the table, and we’re going to have a discussion with the Government about whether we can do that.”
Bally’s Chief Executive spoke at the news conference in Bly, where the company is planning to build a $20 million refinery at its Ballys Rialtas facility.
Mr Higgins said that the refinery would be a “significant investment” that would be “significant to Bally”.
“This is the biggest refinery in the world, and the biggest ever.
And we want to make sure that it’s built in a way that is sustainable, that will provide a long-term return on investment,” he said.
Energy Minister Josh Frydenberg said the Government had “a very clear commitment” to Baly’s plans.
“I don’t want to see the world’s largest refineries go anywhere,” he told ABC radio.
“We’ve got some other refinery projects we’re also considering and that is going on at other sites in the state.
In his opening statement, Minister Frydenbeg said that he was “disappointed” by Bally and that it was a “misguided and short-sighted” approach.”
Our energy security and prosperity depends on our ability to have access to cheap, reliable energy and we will continue to work with our energy companies to achieve this,” he added.
Watch more:In recent years, Bally has sought to capitalise on the drop in the price on oil, building a range of energy-saving products for the home and commercial market.
Bally has also invested in a “smart city” project to boost its ability to meet the growing demand for energy-efficient buildings.