PERTH, March 6 (Reuters) – When Probo Junio got a visa to
work in Australia, he thought he had won a ticket to the good
In 2013, the 45-year-old boilermaker left his hometown of
Cebu in the Philippines, where he was getting paid about $10 a
day, to work in Karratha in Western Australia for $30 an hour.
Enough to support his relatives and build a new life Down Under.
PERTH, Australia, Feb 18 (Reuters) – Australian billionaire
Gina Rinehart’s $10 billion Roy Hill iron ore mine is on track
to begin exporting in September 2015 and will have shipped 5
million tonnes by the end of the year, a company executive said
“We’re certainly on budget. We remain ahead of overall
schedule,” Garry Torte, Chief Financial Officer of Roy Hill,
PERTH/LONDON (Reuters) – Locked into hefty discounts for nearly a decade, producers of super-cooled liquid natural gas could triple their earnings as surging demand gives them the upper hand in contract reviews with big buyers in Asia.
In what was still a fledgling market in competitive LNG tenders, Japanese, South Korean and Chinese buyers secured deep discounts in deals largely done five to eight years ago.
PERTH/LONDON, Jan 21 (Reuters) – Locked into hefty discounts
for nearly a decade, producers of super-cooled liquid natural
gas could triple their earnings as surging demand gives them the
upper hand in contract reviews with big buyers in Asia.
In what was still a fledgling market in competitive LNG
tenders, Japanese, South Korean and Chinese buyers secured deep
discounts in deals largely done five to eight years ago.
SEOUL/PERTH, Dec 16 (Reuters) – Asia’s biggest economies
face paying twice as much for some natural gas as old supply
deals are renewed, with a North American shale glut years from
helping to meet soaring demand in the region.
Rocketing prices will add billions of dollars to the power
bills of Asian nations and threaten competitiveness, but mean an
earnings bonanza for LNG producers such as Malaysia’s Petronas
, BP and Australia’s Woodside Petroleum
PERTH, Dec 4 (Reuters) – Santos Ltd, Australia’s
No. 2 energy company, could face more than $1 billion in
additional costs to drill enough wells to bring its $18.5
billion Gladstone liquefied natural gas (LNG) export plant up to
The project is part of a $190 billion surge in new LNG
capacity development under way in Australia, but costs have
already blown out by around 16 percent from an original estimate
of $16 billion.
SHANGHAI/PERTH, Nov 28 (Reuters) – China will raise its
threshold for coal imports, tighten approvals for new coal mines
and push industry consolidation in a bid to help its coal
sector, which is struggling with overcapacity and widespread
The move to curb imports of low quality coal by the world’s
largest producer and consumer of the fuel comes as China’s new
leaders have vowed to tackle a pollution crisis that has stoked
PERTH, Nov 13 (Reuters) – Iron ore miner Fortescue Metals
Group, racing to pay down $9.3 billion in net debt as
sales to China soar, expects to shake off its junk credit status
by 2015 to seal a spot alongside sector behemoths Rio Tinto
and BHP Billiton.
Just 15 months ago, as iron ore prices plunged, Fortescue
was considering the part-sale of its prized rail and port assets
to help pay off the mountain of debt it amassed to build the
world’s fourth-largest iron ore mine in just five years.
LONDON/PERTH, Nov 8 (Reuters) – Asian liquefied natural gas
(LNG) prices rose this week on winter buying across the region
and maintenance on one production line in Qatar, which some
industry sources say has little spare capacity left until the
end of winter.
Prices rose to $17.75 per million British thermal units
(mmBtu) compared with around $17.50/mmBtu last week.
LONDON/PERTH, Nov 1 (Reuters) – Asian liquefied natural gas
(LNG) prices rose to $17.50 per million British thermal units
(mmBtu) this week as utility buying, a new tender in Argentina
and a full shutdown at Angola’s export plant fuelled gains.
Prices rose from around $17.15/mmBtu last week.
“Supply is looking tight for the winter,” one
Singapore-based trade source said.