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
PERTH (Reuters) – Santos (STO.AX: Quote, Profile, Research, Stock Buzz) hiked the cost of its Gladstone LNG project on Thursday by 15 percent to $18.5 billion, saying it needs to find more gas ahead of a planned 2015 start-up, adding to evidence about the challenges facing Australia’s coal seam gas industry.
Santos is the second of three coal seam gas-to-liquefied natural gas (CSG to LNG) projects to announce a big cost increase, and the news knocked its shares down 4.5 percent, even though a cost hike was widely expected.
MELBOURNE/PERTH (Reuters) – Falling coal prices and soaring costs have forced Australia’s producers to start trimming output and letting go of some workers, hurting miners, rail and port operators and potentially threatening plans for more than $30 billion of investment in new mines.
Miners operating in Australia, led by BHP Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz), Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) and Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz), have long been envied for their proximity to China, the biggest consumer of coal, but that advantage has been whittled away this year.
KUALA LUMPUR, June 8 (Reuters) – Global liquefied natural
gas markets will tighten and prices likely increase over the
next two to three years as supplies rise more slowly than
appetite from a growing number of importers, industry leaders
said at an event this week.
Consumers will pay the price for delays to investment
decisions during the global financial crisis, with few new
projects scheduled to start exporting until 2015.
KUALA LUMPUR (Reuters) – The global oil market is well supplied and can cope with the loss of Iranian crude to Western sanctions, oil officials and executives, including the heads of Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) and Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz), said this week.
An increase in global crude supplies and falling crude prices have helped cushion the impact of sanctions targeting Iran’s controversial nuclear programme.
KUALA LUMPUR, June 7 (Reuters) – The chief executive of
Australia’s Woodside Petroleum (WPL.AX: Quote, Profile, Research) brushed aside concerns
that cheaper U.S. gas supplies could undermine the Asian
liquefied natural gas market and the company’s pricing power.
Asian spot LNG prices LNG-AS of around $18 per million
British thermal units (mmBtu) compare with around $2.40 per
mmBtu for U.S. natural gas NGc1, a price difference that has
set the regional market buzzing with the possibility of a surge
in cheaper supplies for consumers.