Rebekah's Feed
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.

Oct 19, 2012

Australia’s Woodside moves into Myanmar to seek oil, gas

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.

Oct 10, 2012

Australia’s largest solar farm opens amid renewable target debate

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.

    • 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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