BHP threat to ship American shale gas to Asia – The Fin; Fears mount for Browse project – The Aus; Germans blast 'slack' Freo port – The West; Apache plans $400 million sale in Yara Pilbara – The Fin; State rejects $78m IP liability for Oakajee - The West
BHP threat to ship American shale gas to Asia
BHP Billiton is considering shipping a portion of its US shale gas reserves to Asia, a strategy that would help reshape the global gas industry and compete with exports from Australia's huge liquefied natural gas projects in Western Australia, the Northern Territory and Queensland. The Fin
Fears mount for Browse project
Woodside Petroleum has dismantled its work compound at James Price Point in the Kimberley amid mounting speculation that its planned $40 billion Browse gas project will be developed offshore using floating LNG technology. The Aus
Germans blast 'slack' Freo port
The German chief of one of the world's biggest logistics and transport companies has blasted falling productivity on the Fremantle dock, saying slow container movements through WA's biggest port was costing DB Schenker's local operations. The West
Apache plans $400 million sale in Yara Pilbara
United States energy giant Apache Energy is poised to offload its 49 per cent stake in the ammonia company formerly known as Burrup Fertilisers in a deal that could be worth in excess of $US400 million. The Fin
State rejects $78m IP liability for Oakajee
The Barnett government has moved to douse speculation it is liable for $78 million in intellectual property rights related to the Oakajee port and rail project as part of its confidential state agreement with Japanese trading giant Mitsubishi. The West
THE WEST AUSTRALIAN:
Page 3: Gina Rinehart is poised to follow in her father's footsteps on a second front, with the mining billionaire set to launch a book of political essays.
Page 7: The debate over live exports will reach flashpoint on Sunday when farmers and animal campaigners stage rival rallies in Fremantle.
Page 9: WA has a new elite sporting event after the state government pulled off an ambitious bid to add the Margaret River Pro to world surfing's top echelon.
Page 11: The peak building body in Australia is concerned over allegations construction union members have enlisted bikies to help in the hotly contested union election.
Page 13: Australia will assure the US its defence cuts in the May budget have not harmed its “core” military capabilities, Julia Gillard says.
Perth residents eager to catch a glimpse of US Secretary of State Hillary Clinton will have their best chance tomorrow at the State Reception Centre in Kings Park.
Page 15: Eastern states workers moving to WA with dreams of a mining job are adding to a rise in the state's homeless population.
Page 16: More than 40,000 doctors – half of all those in Australia – will be quizzed about their mental health amid concerns of being on the frontline of treating depression could make them more at risk.
Business: BHP Billiton says it is in talks with land and permit holders in the Canning Basin as it works out whether to extend its $US20 billion Texas shale push into WA.
The Barnett government has moved to douse speculation it is liable for $78 billion in intellectual property rights related to the Oakajee port and rail project as part of its confidential state agreement with Japanese trading giant Mitsubishi.
Andrew Forrest-chaired Poseidon Nickel will begin working the capital markets early next year, after the state government yesterday gave it the go-ahead to resume mining at its Mt Windarra project.
The German chief of one of the world's biggest logistics and transport companies has blasted falling productivity on the Fremantle dock, saying slow container movements through WA's biggest port was costing DB Schenker's local operations.
Shares in global insurer QBE were smashed yesterday after the company downgraded its earnings expectations in the wake of super storm Sandy in the United States.
Oil Search insists it will meet its funding share of a massive Papua New Guinea liquefied natural gas project after costs blew out by 21 per cent to $US19 billion.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: BHP Billiton is considering shipping a portion of its US shale gas reserves to Asia, a strategy that would help reshape the global gas industry and compete with exports from Australia's huge liquefied natural gas projects in Western Australia, the Northern Territory and Queensland.
The Australian Taxation Office will have a leader from the private sector for the first time in its 102-year history, former KPMG partner Chris Jordan, who will take over as tax commissioner next year.
Page 4: The finance sector has warned that the Gillard government's rush to implement a controversial policy change critical to delivering this year's surplus will disrupt banking systems, hurt customers and drive up compliance costs.
Page 8: NBN Co will not be allowed to gouge consumers to recover construction costs and deliver a financial return for the government, ACCC chairman Rod Sims says.
Page 9: Construction company Thiess Contractors, rather than Prime Minister Julia Gillard, has questions to answer about money paid into a trade union slush fund subsequently used to buy a Melbourne property in 1993, former Labor leader Mark Latham says.
Page 10: Global mining giant Rio Tinto has added to fears over a slowdown in the resources boom after warning capital costs in Australia have accelerated faster than in any other mining jurisdiction in the world.
Page 11: The Reserve Bank of Australia has acknowledged there is a high degree of uncertainty about its forecasts on headline inflation, economic growth and unemployment.
Page 12: Japan's economy contracted in the third quarter at the fastest pace since last year's earthquake as exports slumped and consumer spending slid.
China's central bank governor has indicated a long-planned currency deal with Australia is set to go ahead, as it would provide greater stability to the growing trade relationship.
Page 17: A shock 20 per cent cost blowout at ExxonMobil's liquefied natural gas project in Papua New Guinea has raised fears of more heavy overruns at the $170 billion worth of LNG projects under construction in Australia, many of which are already billions of dollars over budget.
United States energy giant Apache Energy is poised to offload its 49 per cent stake in the ammonia company formerly known as Burrup Fertilisers in a deal that could be worth in excess of $US400 million.
Page 19: Orica chief executive Ian Smith has defended a $247 million impairment charge to his under-performing Minova unit as “appropriate” despite the large amount of goodwill still associated with the business.
QBE Insurance Group warned that its full-year profit will be sharply lower than forecast after the insurer took a $400 million hit from Superstorm Sandy and raised the claims allowance for businesses affected by the severe drought in the United States.
THE AUSTRALIAN:
Page 1: Child sex offenders and their protectors will face years of investigation under a nationwide royal commission unveiled by Julia Gillard last night with the aim of targeting institutions that failed to safeguard victims.
Voter support for Tony Abbott has dropped to its lowest level since he became Opposition Leader three years ago, as the Gillard government’s relentless attacks on his character take a toll on his standing with the electorate.
Page 4: Tony Abbott ‘‘misread’’ Aboriginal politician Alison Anderson and the local Country Liberal Party over a failed bid to draft her into the federal parliament, according to Northern Territory Chief Minister Terry Mills.
Australia's largest solar project, the $1.2 billion Solar Dawn facility in Queensland, has fallen over in what is being described as a ‘‘setback’’ to the nation’s renewable energy strategy and an embarrassment for Labor’s solar flagships scheme.
Page 5: Leighton Contractors only realised $20 million had disappeared from its coffers at the end of last month, while searching for ways to cut costs.
The number of homeless people in Australia has increased by 8 per cent in the five years to 2011, damaging Labor’s claim it will still meet its ambitious promise to halve homelessness by 2020.
Page 7: Seven former James Hardie executives will be free to sit on company boards within months after a court reduced penalties against those who were found to have breached their corporate duties during the long-running saga.
Australia lost an opportunity to showcase itself to the region with the Australia Network because of a politicised tender process, its outgoing chief executive has said.
Business: BHP Billiton looks to have escaped a writedown on last year’s $US15.1 billion PetroHawk Energy acquisition thanks to rising US gas prices and work on one of the oil-rich onshore fields acquired with the shale gas and oil company.
Foxtel has embarked on a charm offensive with the investor community ahead of News Corporation’s historic split into two publicly listed media companies next year to house its entertainment and publishing businesses.
QBE shares plummeted towards a new low for the year yesterday as the insurance giant revealed that losses from superstorm Sandy would cost it $US350 million ($336m) to $US450m.
Proxy advisers have given a preliminary thumbs-up to National Australia Bank’s $4 million reward plan for chief executive Cameron Clyne, ahead of the release of the bank’s annual report.
Woodside Petroleum has dismantled its work compound at James Price Point in the Kimberley amid mounting speculation that its planned $40 billion Browse gas project will be developed offshore using floating LNG technology.
NBN Co could be pushed to give a more binding commitment to the competition watchdog that it will meet its promises to reduce the controversial usage-based fees at the heart of its pricing strategy, it was revealed yesterday.
Investors wiped 4 per cent off the value of explosives and chemicals maker Orica yesterday, despite a lower bottom-line result that was broadly in line with consensus.
Local businesses are shrugging off the global gloom and beginning to take the supercharged Australian dollar in their stride, according to a new report that predicts strong export growth for Australian companies in coming decades.
Helped along by a lift in first-home buyers, the housing sector is slowly limping back to pre-global financial crisis levels of activity — but not quickly enough for builders, who are calling for more interest rate cuts.
THE SYDNEY MORNING HERALD:
Page 1: Prime Minister Julia Gillard acts on child sex abuse claims. ICAC inquiry told of a $100 million deal involving Labor powerbroker Eddie Obeid.
Page 2: Victim's sister's first-person account of the impact of sexual abuse on her family. All but one of the council that oversaw troubled St John's College resigned on Monday night.
Page 3: An early election is unlikely as Labor's modest recovery in the polls is not being translated into seats. An Australian imprisoned in Bulgaria says he is being held for ransom after authorities refused a government request for him to complete his sentence in Australia.
World: BBC leadership in chaos with six jobs threatened.
Business: Investors in Australia's biggest insurer QBE dumped the stock on Monday after deepening woes in its North American business forced it to slash profit forecasts.
Sport: New chief executive of Football Federation Australia David Gallop wants to tell the sporting world Australia is coming.
THE DAILY TELEGRAPH:
Page 1: ICAC inquiry could expose corruption on a scale not seen for 200 years. Inquiry launched into child abuse and cover-ups.
Page 2: Churches' hidden sins to be revealed.
Page 3: Zara Phillips wears a pair of thongs on her trip to the Gold Coast. Champion jockey Damien Oliver is expected to be charged with illegal betting.
World: Identity of the woman who complained to the FBI about receiving harassing emails from the mistress of David Petraeus has been revealed.
Business: Moves by some state governments to set lower electricity prices will backfire in the long run, claims Origin Energy's managing director.
Sport: Former Parramatta Eels coach Daniel Anderson is to be made NRL director of refereeing.
THE AGE:
Page 1: Royal commission into child sex abuse will be far-reaching, looking at organisations ranging from the Catholic Church and state authorities to the Boy Scouts and sporting groups. Victims of clergy sex abuse weep tears of joy after Prime Minister Julia Gillard announces royal commission. Revamped integrity system will place more scrutiny on Victoria's anti-corruption bodies.
Page 2: Man shot by police at Etihad Stadium car park after he pulled a pistol on them when they tried to question him about a stolen car. Government hopes that letting disgruntled students sue their training colleges for shoddy education will drive dodgy providers out of the industry.
Page 3: A former principal at Bialik College is suing the school after his abrupt sacking last year. Big retailers sign up for online sales event when they slash their prices in 24-hour frenzy. Australian sunscreens get a new SPF50-plus rating. Kitsch, such as Moomba King and Queen portraits and a 25-year-old bottle of Spumante, turns to heritage in City of Melbourne archives. Bob Carr raises eyebrows as he works on a book about being foreign minister even as he carries out the job. Treasury tells Senate that handing lost and inactive super accounts over to the tax office will benefit their owners.
World: UK MPs rage as George Entwistle gets a $2 million payoff after resigning as the BBC chief after just seven weeks in the job.
Business: Investors flee insurer QBE after natural disasters in US, including Hurricane Sandy, send profits plummeting.
Sport: AFL expected to charge Kurt Tippett and his former club Adelaide with a series of breaches and summon them to appear before the commission next week.
THE HERALD SUN:
Page 1: Damien Oliver is expected to be charged with illegal betting on Tuesday throwing his riding future into jeopardy. Ed Cowan cheered on by his wife and new baby as he scores a ton in his first Test against South Africa.
Page 2: Suspected car thief shot by police in stadium car park after he allegedly drew a gun.
Page 3: Royal commission into child sexual abuse will not only investigate those who committed evil acts but also those who looked away and said nothing. Victorian parliamentary inquiry hears pedophile priests used weapons and bestiality to keep their victims quiet.
World: Floodwaters put Venice under water as 200 evacuated from Tuscany.
Finance: Investors wipe $1.2 billion off QBE's market value as Hurricane Sandy accounts for $430 million damage bill.
Sport: Melbourne dodges draft bullet but Kurt Tippett and Port Adelaide to be summoned by the AFL with investigators finding the club pledged payments outside the salary cap to star forward.
THE CANBERRA TIMES:
Page 1: Prime Minister Julia Gillard orders a royal commission into child sex abuse in organisations across Australia.
Page 2: ACT human rights commission to investigate case of handcuffed mental patient.
Page 3: Chief Minister Katy Gallagher rules out Greens plan to ban junk food ads.
World: UN leader Ban Ki-Moon warns of Syria conflict spreading.
Business: Ex-adviser to former prime minister John Howard appointed to run the tax office.
Sport: Centuries from skipper Michael Clarke and Ed Cowan give Australia shot at miracle victory over South Africa in first cricket Test at the Gabba.
