Woodside Petroleum has announced December quarter revenue of $1.42 billion, a rise of 43 per cent on the previous corresponding period and surpassing investment bank UBS's estimate of $1.35 billion for the period.
Woodside Petroleum has awarded four contracts, which it is funding without a contribution from venture partner BHP Group, for front-end engineering design activities at its proposed $15 billion Scarborough project.
The national petroleum industry regulator has responded to media reports that Inpex’s Icthys LNG operation is unsafe, saying it gave the all clear for gas to flow at the $US45 billion ($62 billion) facility.
Red Emperor Resources has tapped investors for £2.8 million (approximately $5 million) from a share placing to increase working capital as it prepares for the drilling of the Winx-1 exploration well in Alaska.
Opponents of a Puma Energy development on Dunsborough’s main street have emerged victorious from the three-year stoush, after the developer behind plans to build the 24-hour service station announced it would no longer proceed with its bid.
Woodside Petroleum’s Browse and Scarborough LNG developments are the biggest of $95 billion of major projects under way or likely in Western Australia, with 96 ongoing and a further 68 probable.
SPECIAL REPORT: Three businessmen will have more impact than most on the state’s economic future, with Peter Coleman leading an oil and gas revival, Chris Ellison building a lithium empire, and Rob Scott reshaping Wesfarmers.
The cost of building the Ichthys LNG project has blown out again, with French group Total saying it has increased by $US5 billion to $US45 billion, but project operator Inpex is disputing the extent of the increase.
GE subsidiary Baker Hughes and McDermott International have been picked for front end engineering and design work on Western Gas’s Equus project, under a contract arrangement whereby they will see the project through to commissioning.
Valmec has secured $25 million worth of construction contracts, including at Mineral Resources’ Wodgina project, while fellow local contractor Weststar Industrial was awarded a $4 million contract at Rio Tinto’s West Angelas mine near Newman.
SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.
Shares in Matrix Composites & Engineering have jumped 16 per cent today to trade at 43 cents each, after the Henderson-based oil and gas services company announced it had won a $15.3 million contract.
As the debate continues from the state government’s recent decision on fracking, it is worth considering some of the potential projects that may proceed.
The state government will lift a ban on fracking in prospective areas of Western Australia after an independent inquiry found the petroleum exploration practice to be low risk.
ANNIVERSARY SPECIAL: Via a mix of good fortune and planning, WA has positioned itself as supplier to the fast-growing economies of Asia rather than a competitor. This article is part of a special series to mark Business News' 25-year anniversary.
