Rebekah's Feed
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.

Nov 23, 2012

48 hours in Perth, Australia’s coastal boomtown

PERTH (Reuters) – The hometown of Australia’s richest citizen, mining magnate Gina Rinehart, Perth is the centre of the country’s iron ore and oil and gas boom. with some of the largest resources firms churning out billions in profits here.

But Perth has a laid back side too– there’s a saying that W.A., the acronym for Western Australia, actually stands for “wait awhile.”

Nov 23, 2012

Travel Postcard: 48 hours in Perth, Australia’s coastal boomtown

PERTH (Reuters) – The hometown of Australia’s richest citizen, mining magnate Gina Rinehart, Perth is the center of the country’s iron ore and oil and gas boom. with some of the largest resources firms churning out billions in profits here.

But Perth has a laid back side too– there’s a saying that W.A., the acronym for Western Australia, actually stands for “wait awhile.”

Nov 21, 2012

Australia state to consider royalty relief for magnetite iron ore

PERTH/SYDNEY, Nov 21 (Reuters) – The state of Western
Australia may extend a concession on royalty rates to producers
of magnetite iron ore, in a bid to jumpstart projects stalled by
a slump in demand for the steel-making raw material, its premier
said on Wednesday.

Magnetite iron ore is a low grade that requires expensive
processing before being exported, making such projects much
tougher to justify, compared with the ore produced by giants Rio
Tinto and BHP Billiton.

Nov 20, 2012

Shell may feed Arrow gas into rivals’ Australian LNG plants

PERTH/MELBOURNE, Nov 20 (Reuters) – Royal Dutch Shell
may delay a final decision on whether to push ahead
with its Arrow liquefied natural gas plant in Australia as it
considers feeding its gas into other LNG projects in the area
due to rising costs.

The Arrow LNG development, slated to be built in partnership
with PetroChina, is one of four projects on
Australia’s east coast that aim to pump gas from coal seams to
export facilities, all of which have faced significant cost
increases and development challenges.

Nov 13, 2012

Australia miners need to slash costs to keep projects alive

PERTH (Reuters) – Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) said on Tuesday that Australia’s mining industry grew complacent in its race to cash in on an overheated commodity market, and the global miner predicted the industry faces widespread cost cuts now that prices have cooled.

Miners had grown “fat and lazy” after allowing their costs to follow prices higher, Australia’s resources minister Martin Ferguson said, warning this was putting at risk $230 billion worth of new resource projects.

Nov 5, 2012

Brent inches above $106 on bargain buying; caution remains

SINGAPORE (Reuters) – Brent crude edged above $106 per barrel on Monday as a more than 2 percent drop in the previous session attracted some buyers, although investors remained focused on the U.S. presidential elections and demand worries.

A waiver by the U.S. government allowing foreign tankers to bring fuel to the East Coast to tide over shortages caused by superstorm Sandy pulled crude futures sharply lower on Friday following mostly rangebound trade last week.

Nov 5, 2012

Brent inches above $106 on bargain buying; mood still cautious

SINGAPORE, Nov 5 (Reuters) – Brent crude edged above $106
per barrel on Monday as a more than 2 percent drop on Friday
attracted some buyers, although investors remained focused on
the U.S. presidential elections and demand worries.

A waiver by the U.S. government allowing foreign tankers to
bring fuel to the East Coast to tide over shortages caused by
superstorm Sandy pulled crude futures sharply lower following
mostly rangebound trade last week.

Nov 5, 2012

Brent steadies around $106; US elections eyed amid demand concerns

SINGAPORE, Nov 5 (Reuters) – Brent crude steadied near $106
per barrel on Monday as investors remained on the sidelines a
day ahead of U.S. presidential elections, fretting about the
economic policies of the candidates and their possible impact on
the world’s biggest oil consumer.

President Barack Obama and Republican challenger Mitt
Romney are locked in a close race, as global markets worry about
U.S. budget uncertainty, with looming spending cuts and tax
hikes threatening to push the economy back into recession.

    • 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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