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.
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.
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.
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.
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.
MELBOURNE/PERTH, Oct 19 (Reuters) – Woodside Petroleum
has agreed to explore for oil and gas in Myanmar with
South Korea’s Daewoo International Corp, giving
Australia’s biggest oil and gas company a foot in the door in
one of the global industry’s most promising frontiers.
Woodside said on Friday that Daewoo International has agreed
to sell it a 40 percent stake in a production sharing contract
in Block AD-7 in the Rakhine Basin, in the western offshore area
of Myanmar, next to Daewoo’s Shwe gas field development.
WALKAWAY, Australia, Oct 10 (Reuters) – Australia switched
on its first utility-scale solar farm on Wednesday, bringing the
country a small step closer to achieving ambitious renewable
energy use targets that traditional coal and gas power producers
are now fighting to soften.
The Greenough River Solar project, just outside the small
town of Walkaway in Western Australia state, is a joint-venture
between Western Australian state-owned Verve Energy and U.S.
conglomerate General Electric. It is expected to generate
10 megawatts, enough to power 3,000 homes.
MURCHISON, Australia (Reuters) – In the remote Australian outback, scientists have launched the world’s fastest radio telescope which will exponentially increase astronomers’ ability to survey the universe, mapping black holes and shedding new light on the origins of galaxies.
The Australia Square Kilometre Array Pathfinder (ASKAP), with an array of 36 antennas each 12 meters (40 feet) across, started peering into the universe on Friday from a far-flung cattle station in Western Australia state.
SINGAPORE (Reuters) – GAIL (India) Ltd (GAIL.NS: Quote, Profile, Research, Stock Buzz) confirmed media reports that it is considering buying liquefied natural gas (LNG) assets put up for sale by Spain’s Repsol SA (REP.MC: Quote, Profile, Research, Stock Buzz) in Canada, Peru, and Trinidad.
GAIL was reported to be interested in Repsol’s Canaport LNG terminal in Canada, but Rajeev Mathur, executive director of GAIL, said the company was looking at all of the LNG assets that Repsol was putting up for sale.
PERTH, July 4 (Reuters) – ConocoPhillips and Origin
Energy approved on Wednesday a second train at the A$23
billion ($23.6 billion) Australia Pacific LNG project, despite
concerns over rising costs and gas shortages in the country’s
coal seam gas sector.
The approval also paves the way for partner Sinopec to
increase its ownership to 25 percent from 15 percent, the