In its Australian Mineral Statistics report released today, Australian Bureau of Agriculture and Resource Economics published statistics showing LNG export earnings plummeted 9% to $1.3 billion in the three-month period, while oil exports shed 7% to $1.9 billion.

Across the whole energy and minerals sector, export volumes were found to be down by more than two-thirds.

“The reduction in export volumes resulted from disruption to both production and port operations following adverse weather conditions – both cyclonic conditions in Western Australia and heavy monsoonal conditions in the Northern Territory,” ABARE said.

But ABARE noted that overall resources export earnings were 16% higher compared with the previous corresponding quarter.

Short-term forecasts of production, exports and prices for Australia’s mineral resource commodities will be published by ABARE later this month.