Rebekah's Feed
Jul 15, 2011

BHP Billiton swoops on gas firm Petrohawk for $12.1 billion

SYDNEY/PERTH (Reuters) – Top global miner BHP Billiton will buy U.S. gas producer Petrohawk Energy Corp for $12.1 billion, ramping up its bets on the booming but environmentally controversial shale gas industry.

The agreed all-cash deal is pitched at a 65 percent premium to Petrohawk last-traded share price, and follows BHP’s $4.75 billion purchase of Chesapeake Energy’s interest in an Arkansas shale gas field in February.

Jul 14, 2011

Asia Coal-Australia thermal coal prices dip in week

PERTH, July 14 (Reuters) – Australian thermal coal prices
slipped about $2 in the week ended on Wednesday as summer buying
in Asia, especially from China, slowed to a halt and Japanese
demand remained weak.

Thermal coal on the globalCOAL Newcastle index for the week
settled at $120.71 per tonne on Wednesday, down from $122.63 a
week earlier and down from $122.45 on Friday.

Jun 24, 2011

Global LNG-Asian LNG inches up, but still below $14/mmBtu

PERTH June 24 (Reuters) – Spot prices of liquefied natural
gas (LNG) in Asia were seen remaining under $14.00 per million
British thermal units (mmBtu), with much of the summer needs
covered, market sources said.

“I think a lot of what went on earlier in the year were a
number of mid-term deals were agreed that took a little demand
out of the summer and potentially out of the winter too,” one
Asia-based market source said.

Jun 24, 2011

Analysis: Floating LNG is for bigger players, not game changer

PERTH (Reuters) – The gas industry has its hopes pinned on floating LNG production to unlock stranded resources as demand for the fuel soars, but the technology is far from revolutionizing output methods and set to remain in the realm of the bigger players for now.

Royal Dutch Shell’s Prelude project off the coast of Australia — part of a rush to help feed a doubling in Asia’s demand for the chilled fuel by the end of the decade — may have advantages over land-based projects, but the scale and risks of such a project are big hurdles for smaller companies.

Jun 22, 2011

More robots for Australia mines may plug labour crunch

PERTH, June 22 (Reuters) – Some Australian mine workers may
soon find themselves trading in their steel-toed boots for a
headset and computer mouse, as mining companies automate to help
plug labour shortages and ramp up output to feed Asia’s
voracious demand for minerals.

Jobs in Australia’s Outback mines can mean grueling 12-hour
days, scorching temperatures and long commutes — conditions
perfect for machines from driverless trucks to drilling robots.

Jun 17, 2011

Woodside delays Pluto LNG start again as costs balloon

SYDNEY/PERTH, June 17 (Reuters) – Australian energy firm
Woodside Petroleum delayed the planned start-up of its
flagship Pluto LNG project by another six months, reported an
almost $1 billion cost blowout and trimmed its overall
production guidance for the year.

The first LNG shipments from Pluto are now scheduled for
March 2012, a year behind the original target, and costs are
seen rising by A$900 million to A$14.9 billion ($15.7 billion)
as a design fault and weather-related issues delayed the
project, Woodside said on Friday.

Jun 14, 2011

Asia Coal-Australia thermal coal prices slip on thin trade

PERTH, June 14 (Reuters) – Australia’s thermal coal index
slipped during the past week as lower liquidity in the coal
market pushed prices lower, traders and analysts said on
Tuesday.

Thermal coal on the globalCOAL Newcastle index for the week
to date was $114.50 per tonne on Monday, down from $118.25 a
week earlier.

Jun 14, 2011

Special report: Australia’s big dig for foreign workers

KARRATHA, Australia (Reuters) – Lucille Lievaux, a 25-year-old French geologist, commutes to work on a plane, a 1,300-km journey from Australia’s Indian Ocean city of Perth to the mining town of Karratha, a smudge of suburbia on the continent’s barren northwest coast.

Slim, blonde and passionate about her job, she sits in Karratha’s busy single-storey airport, waiting for a jet to take her home. She has swapped her hard-hat and orange-striped overalls for a short-sleeved cotton top, jeans and sneakers. Wearing her sunglasses like a hair-band, she looks out of place in a departure lounge crowded mostly with unshaven men.

Jun 14, 2011

Australia’s big dig for foreign workers

KARRATHA, Australia, June 14 (Reuters) – Lucille Lievaux, a
25-year-old French geologist, commutes to work on a plane, a
1,300-km journey from Australia’s Indian Ocean city of Perth to
the mining town of Karratha, a smudge of suburbia on the
continent’s barren northwest coast.
    Slim, blonde and passionate about her job, she sits in
Karratha’s busy single-storey airport, waiting for a jet to take
her home. She has swapped her hard-hat and orange-striped
overalls for a short-sleeved cotton top, jeans and sneakers.
Wearing her sunglasses like a hair-band, she looks out of place
in a departure lounge crowded mostly with unshaven men.
    Only the dirt beneath her short fingernails and tanned,
weathered hands would suggest she has something in common.
    “Australia is like an El Dorado,” says Lievaux, who came a
year ago on a holiday. She now nets $5,000 a month, working two
weeks out of every three at the Whim Creek prospect, an old
open-cut copper mine dug out of the red rocky plain.
    “It’s so easy, so easy to find a job here as a geologist.”

And it’s so hard for Australia to find enough workers like
Lievaux to sustain its mining boom. The tightening labour market
is driving up wages, and combined with the resurgent Aussie
dollar, is putting pressure on the entire manufacturing sector.

Jun 10, 2011

Global LNG-Asian LNG prices move higher on summer demand

PERTH/NEW YORK, June 10 (Reuters) – Spot prices of liquefied
natural gas (LNG) in Asia were seen closing in on $14.00 per
million British thermal units (mmBtu) the highest seen in the
spot market this year, from about $13.60 last week, on summer
demand and sustained imports by Japan, traders said.

“Offers are clearly above $14.00 per mmBtu, but I haven’t
seen any transactions at that level. I think for now we have
reached a maximum price, but you never know,” one Asia-based
trader said.

    • About Rebekah

      "Based in Perth, Australia, I cover coal and gas in Asia. Before moving to Perth, I covered oil and fuels like gasoline and diesel in New York City, including the climb of oil prices to a record high near $150 per barrel."
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