Woodside Petroleum's balance sheet will be in good shape to weather the COVID-19 crisis, chairman Richard Goyder said today, while continuing his calls for the economy to be reopened.
Woodside Petroleum has chosen London-based contractor TechnipFMC to develop the Lambert Deep and Greater Western Flank 3 project, in a contract worth up to $US250 million.
A historic overnight collapse in oil markets has not significantly shaken bigger ASX-listed energy producers today, but it does foreshadow continuing uncertainty for one of Western Australia's largest export industries.
OPINION: Support for the resources sector across the political divide spans decades, and will again be vindicated when WA emerges from COVID-19 restrictions.
National LNG export revenue could fall by as much as 40 per cent in 2021 because of a collapse in the oil price, and the industry is unlikely to emerge as Australia's saving grace as it did during the Global Financial Crisis.
Rio Tinto has disclosed that 700 fly-in, fly-out workers have moved to Perth from interstate or overseas because of new travel restrictions, more than twice the number at mining rival BHP.
The two biggest Perth-based resources companies have furthered their interest in hydrogen, with one focused on export potential and the other investigating a more metropolitan project.
In an initiative led by the Chamber of Minerals and Energy of WA, the Western Australian resources sector has pledged $6.6 million to Royal Flying Doctor Service Western Operations, Foodbank WA and Lifeline WA.
The Australian share market has rallied as coronavirus-fuelled volatility continues, even as the Reserve Bank released minutes showing members were worried about the likelihood of a recession.
UPDATED: Woodside Petroleum has dropped plans for a 14-week fly-in, fly-out roster after presenting the option to its staff, opting instead for a less radical change as the oil and gas giant, along with mining companies, seeks to reduce the amount of travel to its remote sites.
Free to read: WA will be relying on strong export industries to keep its economy afloat, with domestic industries employing a total of 250,000 Western Australians having closed or severely reduced operations due to COVID-19.
The Australian share market has shaken off a weak lead from Wall Street to rise early as government prepares to announce further economic support measures for businesses amid the COVID-19 pandemic.
Woodside Petroleum will delay investment decisions on the Scarborough and Browse LNG developments after a big fall in oil prices amid the escalating COVID-19 pandemic, but three projects under way will continue.
Decisions on two LNG projects worth a combined $22 billion are likely to be delayed from this year to 2021, according to analysts Wood Mackenzie, while many producers have cut back to only essential staff.
Woodside Petroleum has cut the number of people working at its Karratha gas plant, with the decision flowing through to hundreds of contractors at companies such as Monadelphous and UGL.
Australia's share market has rallied from a near eight-year low with the US Federal Reserve taking drastic action to shore up markets and new coronavirus cases seeming to plateau in Italy.
BHP will hire 1,500 temporary workers across the country on six month contracts, with at least 400 to be at Western Australian iron ore operations, Business News understands, while Woodside has pledged to cut payment times for contractors.
The Australian share market has suffered yet another day of carnage, plunging again after US President Donald Trump suspended travel from Europe for a month to limit the coronavirus pandemic.
In celebration of International Women's Day, inductees of the WA Women's Hall of Fame and the winners of the Chamber of Minerals and Energy of WA Women in Resources Awards were announced over the weekend.
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.
Western Australia's liquefied natural gas sector has been largely unaffected to date by the COVID-19 crisis, but a new report shows travel restrictions and declining oil prices could slow development of major projects, including Woodside Petroleum and BHP's $16 billion Scarborough joint venture.
The Australian share market has suffered its worst day in over four years, closing the day at a six-month low amid a growing panic the coronavirus outbreak will trigger a global recession.
Fortescue Metals Group chair Andrew Forrest has purchased an additional $242 million worth of shares in the company, shortly after Perth-based executives of other leading companies, including Peter Coleman, Ian Testrow and Bill Beament, also made big trades.
Woodside Petroleum and BHP have reshuffled their interests in two petroleum titles key to the Scarborough LNG project, as the companies prepare for a final investment decision this year.
Business Events Perth has announced that ‘evokeAG', Asia Pacific's largest agri-tech event, will come to Perth in February next year, the first time the event will be held outside of Victoria.
An industry consortium including Woodside and two universities has confirmed Perth will be the hub of a new remote operations centre dedicated to the space industry.
A joint venture between diversified engineering consultancy Calibre Group and indigenous company Tocomwall has been contracted by the state government to develop a monitoring program for the Aboriginal rock art on Murujuga (Burrup Peninsula).
Woodside Petroleum has won a long-running contractual dispute with Melbourne-based explorer FAR over its purchase of a stake in the Sangomar oil project, off the coast of Senegal.
Woodside Petroleum has deferred a final investment decision on the giant Browse gas project as it deals with the complexity of the planned development and unresolved commercial differences with its partners.
SPECIAL REPORT: Bushfires on Australia's east coast will put pressure on emissions policy at a time when decisions are being made on major projects needed to boost the economy in the west.
Brookfield has celebrated the start of building work at Chevron's new $360 million headquarters at Elizabeth Quay by unveiling an investment partner in the landmark project.
The official launch of Fringe World Festival on Thursday night was interrupted by local artists protesting the festival's partnership with Woodside Petroleum.
