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Apr 21, 2011

China’s Sinopec signs huge Australia gas deal

PERTH, April 21 (Reuters) – Oil giant Sinopec on Thursday
signed China’s second-largest gas purchase agreement, worth
around $85 billion over 20 years by one estimate, in a deal that
also gives it 15 percent of an Australian gas-export project.

Sinopec will pay $1.5 billion for the stake in the Australia
Pacific liquefied natural gas (LNG) project, completing a
preliminary deal agreed in February with project developers
ConocoPhillips and Australia’s Origin Energy .

Apr 20, 2011

In outback Australia, “dongas” show costs of mining boom

KARRATHA, Australia (Reuters) – Demand for Australian commodities is running white-hot. So too are costs in the country’s remote mining towns, to the point where tiny huts or “dongas” can cost as much as a five-star hotel room and backpackers can earn $2,000 a week cleaning them.

Costs are becoming a big headache for Australian miners, including giants Rio Tinto and BHP Billiton, which complain that labor shortages, a strong local currency and rising fuel prices threaten to slow the pace of expansion.

Apr 15, 2011

Asia Coal-Australia thermal coal prices flat in week

PERTH, April 15 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, were unchanged during the past week as
global miner Xstrata headed back up to Japan to
renegotiate annual thermal coal contract prices.

Australia’s thermal coal on the globalCOAL Newcastle index
for the week to date was $123.25 per tonne on Thursday,
unchanged from a week earlier.

Apr 11, 2011

BHP says no basis to Woodside bid talk

SYDNEY/PERTH (Reuters) – BHP Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz) played down speculation it was in talks to acquire a cornerstone stake that could be worth $10.3 billion (A$9.8 billion) in Australia’s largest oil and gas firm, Woodside Petroleum (WPL.AX: Quote, Profile, Research, Stock Buzz), from Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz).

BHP Billiton, widely rumoured to be considering a takeover of Woodside, said in a short statement that there was no basis for the market talk, which has centred on BHP acquiring Shell’s 24.3 percent stake as a step toward a full takeover.

Apr 5, 2011

Asia Coal-Australia thermal coal prices up on annual settlement price

PERTH, April 5 (Reuters) – Australia’s thermal coal prices
rose during the past week, supported by a higher settlement for
the annual Japanese thermal coal contract.

Thermal coal on the globalCOAL Newcastle index, a benchmark
for Asia, closed at $123.75 per tonne for the week to date on
Monday, up from $123 per tonne a week earlier and $121.13 on
Friday.

Apr 1, 2011

Australia coal price up on high Japan contracts

PERTH/LONDON, April 1 (Reuters) – Record thermal coal term
contract prices agreed by Japanese utilities and one Australian
supplier this week have given the nearby global coal values a
boost, utilities, traders and analysts said on Friday.

Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz) and Chugoku Electric (9504.T: Quote, Profile, Research, Stock Buzz) have agreed
annual contract prices for the fiscal year starting April 1 at
just under $130 a tonne FOB Newcastle, over 30 percent higher
than last year [ID:nL3E7EV499].

Apr 1, 2011

Xstrata, Chugoku agree on record coal price for 2011

PERTH, April 1 (Reuters) – Xstrata and Chugoku
Electric have settled an annual coal contract for the Japanese
fiscal year starting April 1 at a record level despite the
near-term thermal coal demand destruction caused by the deadly
earthquake in Japan last month.

The contract was settled just under $130 per tonne, over 30
percent higher than last year’s contract, sources told Reuters
on Friday.

Mar 31, 2011

S.Korea STX gets coal supply requests from China, India

SEOUL/PERTH, March 31 (Reuters) – South Korea’s STX Corp
, aiming to boost its coal trading by investing in
overseas mines, said on Thursday that it has received long-term
supply requests from Chinese and Indian utilities which expect
rising demand after Japan’s quake.

STX also said in a statement that it had bought a 40 percent
stake in an Indonesian coal mine located in Kintap, Kalimantan
from PT Indonesia Cemerlang for $30 million, earning mine
operation and sales rights for all coal output.

Mar 30, 2011

Asia Coal-Australia thermal coal prices dip slightly in week

PERTH, March 30 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, dipped slightly as the short-term drop in
Japanese coal demand kept pressure on prices after a deadly
earthquake earlier this month.

Australia’s thermal coal prices on the globalCOAL weekly
index, a benchmark for Asia, closed at $122.02 per tonne for the
week to date on Tuesday, down slightly from $122.98 a week
earlier.

Mar 24, 2011

Q+A-How a carbon tax may impact Australia’s LNG industry

PERTH, March 24 (Reuters) – Australia’s government plans to
introduce a fixed price on carbon pollution from mid 2012 ahead
of a full emissions trading scheme three to five years later, as
part of its efforts to fight climate change.

The nation’s burgeoning liquefied natural gas (LNG) export
industry, which has about $200 billion projects on the drawing
board, has said it should be exempt from the tax to ensure LNG
projects are internationally competitive.

    • 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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