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.
JAKARTA/PERTH (Reuters) – Indonesia summoned Australia’s ambassador on Friday to explain media reports his embassy in Jakarta was used to snoop on Southeast Asia’s biggest country as part of a U.S.-led global spying network.
Indonesia called in the chief U.S. diplomat in Jakarta this week over the spying allegations, while China on Thursday demanded an explanation from the United States after the Sydney Morning Herald newspaper reported Australian embassies across Asia were part of the U.S. espionage operation.
JAKARTA/PERTH (Reuters) – Indonesia summonsed Australia’s ambassador on Friday to explain media reports his embassy in Jakarta was used to spy on Southeast Asia’s biggest country as part of a U.S.-led global spying network.
Indonesia this week called in the chief U.S. diplomat in Jakarta over similar allegations, while China on Thursday demanded an explanation from the United States after the Sydney Morning Herald newspaper reported Australian embassies across Asia were part of the U.S. spying operation.
TOKYO/PERTH, Oct 16 (Reuters) – Japan plans to start up 14
new gas and coal-fired power plants by the end of 2014, allowing
a switch away from pricey oil, as Tokyo struggles with a
shutdown of nuclear reactors and energy imports drive a record
Regional power monopolies will construct 12 gas-fired units
next year, while two new coal power plants will be completed by
December 2013, according to a Reuters survey of utilities.
SYDNEY/PERTH (Reuters) – Australia forecast solid growth over the next five years for two of its biggest export earners, iron ore and thermal coal, but analysts warned it may struggle to meet targets for coal as global demand growth fades.
Iron ore exports are forecast to jump 17 percent in 2013/14 and average 8 percent growth over the next five years, despite softening demand growth in China, the Bureau of Resources and Energy Economics (BREE) said in its latest quarterly report.
PERTH, Aug 30 (Reuters) – East Timor is offering to invest
$800 million to build a pipeline to take gas from the Timor Sea
to the tiny nation, as it makes a new pitch to resolve a dispute
with Australia’s Woodside Petroleum over how to develop huge
fields in the area.
East Timor has insisted for a decade that a liquefied
natural gas plant to process gas from the Greater Sunrise fields
should be built on its shores, bringing with it much-needed
development. Woodside says the plan is uneconomical and
wants to use a floating LNG plant.