News Articles for Origin Energy

ASX dives 5.5%, hits 13-month low

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The Australian stock market has shed more than $100 billion as it sinks to its lowest level in over a year, following US markets lower after a rise in the number of coronavirus cases.

Origin lifts APLNG production outlook

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Origin Energy has raised its full-year output guidance for its Australia Pacific LNG project, the biggest producer of liquefied natural gas in eastern Australia.

Monadelphous wins $150m of contracts

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Monadelphous has announced about $150 million of new contracts in Western Australia and Queensland, less than a week after it won a big contract on Rio Tinto's West Angelas iron ore mine in the Pilbara.

Origin posts record quarterly LNG revenue

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Electricity and gas retailer Origin Energy has posted a 53 per cent rise in third-quarter gas production revenue from its stake in Australia Pacific LNG, driven by higher oil prices.

AGL seeks new CEO at tricky time

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Australia's biggest power producer, AGL Energy, has eased out chief executive Andy Vesey and is seeking a new leader at a time when it faces government pressure to slash energy bills and shore up a shaky grid.

Origin lifts profit, signals dividend return

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Origin Energy has more than doubled underlying profit on the back of improved performance in its retail and gas production operations, and signalled a return to dividend payouts in the current financial year.

Staff cuts add to red tape concerns

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SPECIAL REPORT: Despite a host of deals in the Perth Basin during the past year, proponents are battling issues with red tape.

Unions, academics at odds on power reform

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Securing union support for his bid to introduce competition into the local electricity retailing market will be a major test of Ben Wyatt's political and negotiating skills.

Asset sales halted after 1990s flurry

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BN 25th Anniversary series- WA has been slow to introduce private ownership to some state industries, although a series of moves during the Court era generated benefits, according to one prominent WA economist.

Origin predicts growth in WA as more entrants come

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Sydney-based Origin Energy has signed up close to 5,000 Western Australian retail gas customers since launching in the Perth market in October.

Simply Energy to enter Perth gas market

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An east coast energy retailer backed by a French multinational will become the fifth player selling to consumers in the local gas market, after receiving approval by the Economic Regulation Authority today.

AGL secures foothold in domgas market

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Sydney-based energy supplier AGL Energy has secured 7,000 customers in Western Australia since its July 2017 local launch, according to the company's half-yearly report.

AWE upgrades Waitsia reserves

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Sydney-based gas company AWE has upgraded its Waitsia 2P reserves by 80 per cent, now ranking it in the top five largest gas fields ever discovered onshore in Australia.

Aust shares slide in early trade

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The Australian share market has come under pressure in early trade as investors take cues from a weak close on Wall Street on Friday and a lack of local drivers.

AWE raises $38m for WA gas project

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Sydney-based gas producer AWE will raise $38 million via a share placement to fund the next stage of the Waitsia gas field project in the Perth Basin.

Local share market opens lower

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The local share market has opened lower following negative sentiment in the US overnight where falls in technology stocks weighed on Wall Street.

Origin secures APLNG gas for east coast market

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Origin Energy says it will buy 41 petajoules of gas from its part-owned Australia Pacific LNG project in Queensland for the domestic market.

Origin to launch in west today, deepening price war

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Sydney-based energy provider Origin Energy will launch in the Western Australian retail gas market today, 10 months after Business News revealed the company would be the fourth business to supply domestic gas in the state.

Beach buys Origin assets for $1.6bn

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Kerry Stokes-backed Beach Energy has agreed to buy Origin Energy's conventional oil and gas business Lattice Energy, which has a major stake in two operations in the Perth Basin, for nearly $1.6 billion.

Bowen takes board role at BHP

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BHP Billiton has announced the appointment of outgoing Wesfarmers finance director Terry Bowen to its board.

Waitsia well exceeded expectations: AWE

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Sydney-based gas producer AWE plans to upgrade its resource estimate for the Waitsia gas field in the Perth Basin in coming months after a recent drilling campaign showed the field extends further eastward than initially thought.

Power players keen to compete with Synergy in more open marketplace

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SPECIAL REPORT: As WA households benefit from increased competition in gas retailing, the electricity sector wants to be able to compete with Synergy in providing to small customers, with some industry members calling for a reduction in the contestability threshold to 20 megawatt hours.

Santos takes $877m hit due to oil prices

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Oil and gas producer Santos will book an impairment charge of $US690 million ($A877 million) in its half-year results due next week after lowering its oil price forecasts.

Origin Energy to take $1.2bn hit on gas

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Origin Energy has flagged a second-half $1.2 billion hit to its full-year results, largely relating to an impairment in its Australia Pacific LNG interest.

Origin oil and gas revenue doubles

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Origin Energy has lifted full-year oil and gas production by 40 per cent to 323 petajoules, helped by the ramp-up of operations at its Australia Pacific liquefied natural gas project and better-than-expected output from its conventional oil and gas business.

Discounts grow in gas battle on AGL entry

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Sydney-based AGL made its long-awaited entry to the Perth gas market this week, with price cuts and a range of customer incentives underpinning the company's offering as the sector's newest player in the domestic gas sector.

Regulator gives AGL, Origin green light

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East coast-based companies AGL Energy and Origin Energy have received approval to enter Western Australia's domestic gas market, where they will join Wesfarmers subsidiary Kleenheat and Alinta Energy.

Origin sells solar farm to APA

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Origin Energy has sold its under-development Darling Downs solar farm in Queensland to gas pipelines operator APA Group, but will buy all the electricity generated by the project until 2030.

Ausdrill, AGL back sport

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Mining services company Ausdrill has expanded its partnership with Hockey Australia, while AGL Energy has sponsored the West Coast Eagles as it seeks to lift its profile ahead of its planned entry to the Western Australian gas market.

Gas industry weighs impact of export curbs

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Major gas exporters on the east coast have promised to ensure higher domestic supplies, but the industry has slammed the federal government's new restrictions on gas exports.

Transerv buys into Canadian gas operation

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Oil and gas explorer Transerv Energy is back looking for opportunities overseas after failing to achieve commercial success in Australia, announcing today a $4.9 million farm-in agreement over a producing operation in Canada.

Origin flags $1.9bn impairment

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Origin Energy has flagged a hit to profitability a day ahead of its half-year earnings, announcing it will take a $1.9 billion impairment charge against the value of some of its major assets, including the Australia Pacific LNG project and its Browse Basin gas fields.

Woodside VP becomes new Origin CFO

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Woodside Petroleum executive vice-president Lawrie Tremaine is jumping ship to become Origin Energy's new chief financial officer.

AGL takes next step in domgas market entry

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Sydney-based AGL Energy has said it would lose around $15 million in a bid to enter the Western Australian domestic gas market in the 2018 financial year, after it lodged a retailing application with the state's Economic Regulatory Authority.

Private investors shape utilities

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The proposed part sale of Western Power is not the only move towards increased private investment in the utilities sector.

Origin makes play for WA gas market

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Perth's domestic gas users could have a choice between four retailers by July next year, with Sydney-based utility Origin Energy putting forward an application to the Economic Regulation Authority to enter the market.

Chevron, AWE moves improving gas certainty

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Certainty around the state's domestic gas supply received a boost today, with the Chevron-led Gorgon project delivering first domgas to Synergy and AWE taking the next step towards the development of stage two at the Waitsia gas field.

Transerv blindsided by Origin's spin-out plans

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Shares in oil and gas explorer Transerv Energy tumbled today as managing director Stephen Keenihan announced his resignation in the wake of news yesterday that the company's proposal to acquire assets owned by Origin Energy had been terminated.

Origin to spin-off upstream assets

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Gas and power retailer Origin Energy has outlined a scaled-back version of its long-anticipated plan to split the company's major businesses.

Market closes 11.8pts lower

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The Australian share market lost its early morning gains to close at its lowest level since July on concerns about future stimulus programs by central banks.