Alaska is a long way from Western Australia, but what’s just happened in the oil industry there could have a significant effect on plans to expand this state’s liquefied natural gas industry.
Woodside Petroleum expects to reduce its stakes in Australia's Scarborough gas field and Canada's Kitimat liquefied natural gas project, which would help it reduce its capital expenditure, its chief executive told Reuters.
Western Australia’s domestic gas production for the three months to June was a quarterly record, leaving the state experiencing a surplus of gas while east coast production fell again.
The state government has lifted a ban on fracking on existing petroleum titles, in a move planned since last year that protects all but 2 per cent of Western Australia from the contentious practice.
Two local engineering services firms have reported contrasting full-year results today, with Valmec announcing record underlying earnings while profit at Lycopodium fell 9.8 per cent.
Western Australia will be carbon neutral by 2050 under an aspirational policy announced by the state government today, although it is not yet clear what mechanism will be used to achieve the goal.
Strike Energy shares have surged 90 per cent and Warrego Energy’s by 68 per cent after the joint venture partners announced a significant gas discovery as part of the West Erregulla-2 drilling campaign in the Perth Basin.
A move to reactivate a dividend reinvestment plan and a $US 1.5 billion debt deal should be read as a sign Woodside Petroleum is confident that its Browse and Scarborough projects are moving forward, chief executive Peter Coleman said.
SPECIAL REPORT: An alliance between two big unions will put pressure on oil and gas contractors at a time when many enterprise agreements reach their expiry and a big projects are set to get under way.
SPECIAL REPORT: Four prospective domestic gas projects will be key to ensuring adequate supply in WA in the next decade, despite new facilities recently starting up.
SPECIAL REPORT: Business News spoke to green advocates to explore how the petroleum industry might find common cause with the environmental movement, as pressure builds on billions of dollars of projects.
The $2 billion carbon capture and storage facility at Chevron’s Gorgon LNG plant has entered operation, more than three years after first gas was shipped from Barrow Island.
Woodside Petroleum has awarded a contract to Netherlands-based Boskalis to undertake seabed intervention and shore crossing works for the proposed Scarborough export gas pipeline.
Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.
Fremantle-based MMA Offshore will acquire Neptune Marine Services in a cash-and-scrip deal worth around $18.5 million, as it seeks to expand its services business.
Carnarvon Petroleum plans a $79 million share placement and a $5 million share purchase plan to fund ongoing appraisal activities and initial development phases of its Dorado oil and gas discovery.
