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Dec 13, 2010

QR National reopens rail lines after weekend rain

PERTH, Dec 13 (Reuters) – Australian rail-freight firm QR
National said Monday its Blackwater and Goonyella
rail lines in Queensland state are back in operation after
heavy rains shut them down over the weekend, but speed
restrictions remain in place.

QR National’s rail lines, which are a key link between
Queensland’s coal mines and its coal export terminals, have
had disruptions for two weekends in a row due to unseasonably
wet weather.

Dec 13, 2010

Oil steady to higher after OPEC output unchanged

PERTH (Reuters) – Oil prices were steady to higher on Monday after the Organization of Petroleum Exporting Countries(OPEC) met over the weekend and agreed to keep crude oil output levels flat.

U.S. crude for January rose 29 cents to $88.08 a barrel by 9:58 p.m. EST. ICE Brent rose 16 cents to $90.64.

Nov 30, 2010

COAL/ASIA-Australia thermal coal prices move back up to $110/tonne

PERTH, Nov 30 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, rose back above $110 per tonne during
the past week, boosted by increasing demand from Europe where
a cold spell has increased buying.

Thermal coal on the globalCOAL Newcastle index for the
week to date was $110.35 per tonne on Monday, up from $107.88
a week earlier and up more than $4 from $105.77 on Friday.

Nov 24, 2010

Petronet sees Asia LNG spot market growth

PERTH, Nov 24 (Reuters) – The Asian liquefied natural gas
spot market will likely expand as buyers wary of long-term
contract pricing look for more flexibility, an executive at
India’s Petronet LNG Ltd (PLNG.BO: Quote, Profile, Research) said on Wednesday.

“Indian and Asian LNG markets are lagging – most of the LNG
which is sold in Asian markets is long term (but) eventually,
the trend will change and Asian buyers will look for more
flexibility,” said Anil Joshi, senior vice-president of major
projects and business development at Petronet.

Nov 16, 2010

BHP not giving up on large deals; has no regrets

PERTH, Australia, Nov 16 (Reuters) – Global miner BHP
Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz) has not given up on large acquisitions and
does not regret spending $875 million pursuing three massive
deals that failed over the past two years, its chairman said on

Chairman Jac Nasser dismissed speculation the company would
turn to smaller deals because it is too big to win regulatory
approval for major takeovers.

Nov 15, 2010

Oil at $85 as Chinese rate hike worries weigh

PERTH (Reuters) – Oil prices remained steady around $85 a barrel on Monday, as the prospect of Chinese interest rate increases and uncertainty about sovereign debt in Europe continued to weigh on the market.

“The market is worried about consumption, that China will introduce interest rates that will slow demand and as a result of that you could find that oil could trade a lot lower,” said Jonathan Barratt, managing director of Commodity Broking Services in Sydney.

Nov 15, 2010

La Nina, China demand to boost coal prices

PERTH/JAKARTA, Nov 15 (Reuters) – A strong La Nina effect
threatens more drenching of waterlogged coal production areas
in Australia and Indonesia over the next six months, cutting
exports and driving up prices just as Chinese winter demand
kicks in.

As a result, prices for Australia’s thermal coal, the Asian
benchmark, could move as high as $120 per tonne before the end
of the year from around $109 now, said Mark Pervan, head of
commodity research at ANZ Bank in Sydney. A price above $120
would be the highest since September 2008.

Nov 15, 2010

Oil rises to $85 but Chinese rate worries weigh

PERTH (Reuters) – Oil rose to near $85 a barrel on Monday, making a small recovery from last week’s plunge in commodity prices as some investors bargain hunted.

But the prospect of Chinese interest rate increases and uncertainty about sovereign debt in Europe continued to weigh on the market, capping gains, analysts said.

Nov 8, 2010

Crude oil steady to higher on U.S. economic data

PERTH (Reuters) – U.S. crude oil rose slightly on Monday, trading near $87 a barrel on continued support from last week’s U.S. Federal Reserve’s economic stimulus package and stronger-than-expected jobs data.

Oil prices will likely to continue to trade in a tight range near $87 a barrel on profit-taking and as the market seeks additional cues on demand, analysts said.

Nov 5, 2010

BHP may eye oil & gas if Potash bid dies

PERTH/SYDNEY (Reuters) – BHP Billiton’s blocked bid for Potash Corp has spurred talk that the miner will now focus on oil and gas targets such as Australia’s Woodside Petroleum, but some analysts are sceptical.

Investors hope BHP will look at a share buyback or special dividend, but analysts said the miner could also use its huge war chest to boost its oil-and-gas assets. Woodside and Australia’s Oil Search have been touted as possible targets, with both stocks rallying since Ottawa indicated this week it would block the $39 billion (24 billion pounds) Potash bid.

    • 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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