Rebekah's Feed
Jun 3, 2012

Australia’s coal bed LNG export expansion plans falter

PERTH, June 4 (Reuters) – Confidence in Australia’s coal
seam gas industry, one of the nation’s brightest economic
prospects, has begun to flicker.

For the first time since energy firms kicked off $50 billion
of projects to drill for gas in the region’s rich coal deposits
less than two years ago, there is a consensus emerging among
industry executives and experts that plans are well off track.

May 24, 2012

AGL wins Loy Yang power approval; to raise $875 mln

MELBOURNE, May 24 (Reuters) – Australia’s AGL Energy
launched a A$900 million ($875 million) share sale
after winning approval from Australia’s competition watchdog to
take full control of Victoria state’s largest power station

The A$448 million plan to take full control of Loy Yang A
power station, which provides 30 percent of Victoria state’s
electricity, also includes Australia’s largest brown coal mine.

May 16, 2012

Australian gas users fear shortage as LNG exports grow

ADELAIDE/MELBOURNE, May 16 (Reuters) – Australia is on its
way to becoming the world’s top exporter of liquefied natural
gas, but industrial consumers on the country’s east coast are
worried gas producers will ship so much to Asia’s booming
economies that domestic supplies will be tight.

East coast gas will flow to international buyers via three
multi-billion dollar LNG projects under construction near
Gladstone and due to open in 2014 and 2015. Exports will drive
up the price of gas, which previously had no outlet other than
the landlocked regional market.

May 14, 2012

BHP leaves door open to U.S. shale gas write-down

ADELAIDE (Reuters) – BHP Billiton’s (BHP.AX: Quote, Profile, Research, Stock Buzz) petroleum chief executive left the door open to the possibility of a write-down on the company’s U.S. shale gas assets on Monday, but defended their long-term value.

The company will review its assets at the end of the fiscal year on June 30, BHP chief petroleum executive J Michael Yeager told reporters in a briefing on Monday.

May 13, 2012

Saudi says $100 per barrel great price for oil

ADELAIDE (Reuters) – Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said on Sunday.

International Brent crude settled at $112.26 on Friday, well off a peak of over $128 in March. Brent has mostly traded above $100 since early 2011, keeping fuel costs high and threatening to damage a fragile global economy.

May 4, 2012

Exclusive: Shell, PetroChina JV Australia LNG faces big cost overrun-source

HONG KONG/PERTH (Reuters) – The cost of Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) and PetroChina’s 0857.K Australian joint venture LNG may rise as much as 50 percent from initial estimates, which could force the companies to delay development, a source close to the project said on Friday.

Arrow LNG is one of four on Australia’s east coast that aim to pump gas from coal seams to export facilities. The estimated investment for all the projects is rising rapidly from the initial price tag of around $70 billion.

May 4, 2012

Shell, PetroChina JV Australia LNG faces big cost overrun-source

HONG KONG/PERTH, May 4 (Reuters) – The cost of Royal Dutch
Shell (RDSa.L: Quote, Profile, Research) and PetroChina’s 0857.K Australian joint
venture LNG may rise as much as 50 percent from initial
estimates, which could force the companies to delay development,
a source close to the project said on Friday.

Arrow LNG is one of four on Australia’s east coast that aim
to pump gas from coal seams to export facilities. The estimated
investment for all the projects is rising rapidly from the
initial price tag of around $70 billion. [ID:nL3E7FL1A2]

Apr 19, 2012

Woodside ramps up Pluto LNG; Santos output up

PERTH, April 19 (Reuters) – Australia’s largest oil and gas
company, Woodside Petroleum, said it is very close to
exporting liquefied natural gas (LNG) from its flagship project
and the nation’s No. 2, Santos, reported higher
first-quarter output, sending shares of both companies higher on
Thursday.

Woodside is gearing up its Pluto LNG project to load its
first export cargoes in the “coming days,” Woodside said in its
March quarter production report on Thursday.

Apr 4, 2012

Indonesia weighs mine export tax to curb output boom

JAKARTA/PERTH, April 4 (Reuters) – Indonesia is considering
a hefty tax on mining exports to stop miners from overexploiting
resources to beat a 2014 ban on shipments of some unprocessed
metals and lower grade coal, an official said on Wednesday, but
the plan may backfire if foreign buyers turn elsewhere.

The proposal to impose a 25 percent export tax on coal and
base metals – rising to 50 percent in 2013 – was greeted with a
mix of confusion and scepticism as both producers and importers
across Asia tried to assess its impact.

Apr 4, 2012

Indonesia mine export tax aimed at curbing output boom

SINGAPORE, April 4 (Reuters) – Indonesia is considering a
hefty tax on mining exports to stop miners overexploiting
resources to beat a 2014 ban on shipments of some unprocessed
metals, a senior official said on Wednesday, but the plan may
backfire as importers start to look elsewhere for supplies.

The proposal to impose a 25 percent export tax on coal and
base metals – rising to 50 percent in 2013 – was met with a mix
of confusion and scepticism as both producers and buyers across
Asia tried to assess it impact.

    • 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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