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May 6, 2013

Giant gas rigs set platform for protests

PERTH, May 7 (Reuters) – Grappling with soaring costs tied
to constructing onshore gas plants, a growing number of energy
firms are pledging tens of billions of dollars to build the
world’s biggest floating structures to exploit offshore gas
fields.

By the end of the decade half a dozen or so floating gas
processing plants, some weighing as much as six aircraft
carriers and half-a-kilometre (0.3 miles) long, could be
deployed on the world’s oceans.

Apr 12, 2013

Australia’s Woodside shelves $40 bln Browse LNG project

PERTH, April 12 (Reuters) – Woodside Petroleum has
shelved plans for its $40 billion Browse liquefied natural gas
project in Western Australia, saying it will consider a floating
LNG plant after deciding the onshore development did not make
economic sense.

Australian LNG projects have seen a series of huge cost
overruns as the country ramps up production on its way to
becoming the world’s largest exporter of the clean burning
energy source.

Apr 4, 2013

Western Australia iron ore projects not dead -Premier

PERTH, April 4 (Reuters) – Two major iron ore infrastructure
projects in Western Australia hit by escalating costs and
volatile commodity prices in the last year could still be pushed
through, the premier of the resource-rich state Colin Barnett
said on Thursday.

Economic growth in China, the world’s top buyer of iron
ore, is expected to slow to a rate of around 7 percent a year
for the rest of the decade, but its demand for resources will
continue to fuel growth in Western Australia, Barnett said in an
interview.

Apr 2, 2013

Exxon, BHP plan world’s largest floating LNG plant off Australia

PERTH (Reuters) – Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) and BHP Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz) are planning to build the world’s largest floating liquefied natural gas (LNG) processing and export plant off the northwestern shore of Australia, despite growing concerns about the cost competitiveness of the country’s LNG projects.

At around half a kilometer (0.3 miles) long, the vessel would be nearly as long as five football fields laid end-to-end and would be the largest floating facility in the world.

Mar 31, 2013

No gas, please: Australia shale hunters focus on oil

PERTH, April 1 (Reuters) – Shale prospectors in Australia’s
vast Outback are homing in on oil as the lucrative prize that is
easier and cheaper to exploit than gas.

Initial hopes had been to replicate a U.S. shale gas boom,
but the economics of targeting oil rather than gas derived from
shale formations, once considered a mere by-product, look
increasingly compelling in Australia.

Mar 3, 2013

Rising costs drag oil and gas into factory age

LONDON/PERTH, March 3 (Reuters) – Oil engineering consultant
Steve earns 550,000 Australian dollars ($560,000) a year and is
seeing new graduates signed up for six-figure salaries.

These pay rates, along with other rising costs the oil
industry cannot control, are sharpening its focus on mass
production methods, clever supply deals and investment in
innovation.

Feb 11, 2013

Brent oil inches down in holiday trade, but stays near $119

PERTH, Feb 11 (Reuters) – Brent oil futures dipped slightly
on Monday in trade thinned by the Lunar New Year holiday, but
stayed near a nine-month high near $119 a barrel, supported by
stronger than expected demand growth in China.

Brent crude prices hit the nine-month peak on Friday after
China’s exports and imports broadly surged in January, with oil
imports rising to their third-highest daily rate on
record.

Feb 11, 2013

Brent oil price slips in light holiday trading

PERTH, Feb 11 (Reuters) – Brent oil futures dipped slightly
in Asia early on Monday in thin trading due to the Chinese New
Year holiday, but data showing stronger than expected demand
growth in China limited losses.

On Friday, Brent crude prices hit a nine-month high near
$119 per barrel after news that Chinese oil imports rose in
January to their third-highest daily rate on record.

Jan 24, 2013

Australia’s Linc Energy shale oil find met with share of caution

PERTH/MELBOURNE, Jan 24 (Reuters) – Shares in Linc Energy
soared on Thursday, a day after the firm announced it
was sitting on potentially large resources of shale oil in South
Australia, although some experts urged caution since the
estimate is at very early stage.

Two respected independent consultants estimated Linc’s
100-percent owned Arckaringa Basin could hold between 103
billion and 233 billion barrels of oil equivalent (boe) in
formations comparable to liquids-rich shale plays in the United
States.

Dec 18, 2012

Mega miners tighten iron grip as Australia ports stall

MELBOURNE/GERALDTON, Australia, Dec 19 (Reuters) – A new
deepwater port on Australia’s Indian Ocean Coast was supposed to
be the showpiece of the country’s decade-long mining boom and
open up a huge new iron ore belt to export to Asian markets.

But twice in the past 15 years, plans for the port on a
scrubby stretch of land 400 km (250 miles) north of Perth
have collapsed, most recently last month, when Japan’s
Mitsubishi Corp put the $6 billion project on ice due
to spiralling costs and falling iron ore prices.

    • 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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