News Articles for Peter Coleman

Online LNG marketplace GLX has announced a partnership with US-based information service OPIS to create LNG indices, a week after Woodside announced it had invested in the platform.

OPINION: The clash between domestic politics and international climate-change law was on stark display in WA last week as the EPA weighed in with an emissions recommendation.

Western Australia will know as early as next year if Woodside Petroleum's Scarborough, Pluto and Browse gas projects, worth a combined $36 billion, will be given the green light, as the business posted a 28 per cent rise in profit today.

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.

Front end engineering and design work for Woodside Petroleum's SNE oil development in Senegal has been awarded to Subsea Integration Alliance, with a final investment decision penciled in for mid-2019, after a long dispute among the project's partners.

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.

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.

The expansion plans that Woodside has announced this year will make a major contribution to Western Australia's economic and energy security for decades to come.

Woodside Petroleum has urged governments across Australia to back its ambitious growth projects, which include $30 billion on LNG projects along with development of industrial-scale hydrogen power.

The Woodside-operated North West Shelf Venture has struck a preliminary deal to process LNG for the Browse project and Chevron's Clio-Acme gas fields.

Gas is flowing at Woodside Petroleum's Greater Western Flank-2 project, an extension of the North West Shelf Venture, with the company saying costs came in 30 per cent under budget.

Woodside Petroleum has picked Texas-based Bechtel as the most likely contractor to build a new LNG train at its Pluto facility near Karratha, but has hit a hurdle in approvals for an associated fly-in fly-out camp.

SPECIAL REPORT: Chevron's $5 billion Gorgon phase two project announced in April might be the first in a wave of new oil and gas investments.

The much anticipated Browse LNG project has taken a step forward with partners arriving at an early stage agreement on pricing to pipe gas through an existing Karratha plant, while a proposed second train at Pluto LNG now looks likely to be much larger.

Woodside Petroleum chairman Michael Chaney has said there's a risk that major energy players may be dissuaded from investing into Western Australia if company tax reform is stalled, as the business closes in on a tolling deal for gas from the Browse field.

SPECIAL REPORT: Our annual analysis of the state's movers and shakers shows that sometimes the best examples of influence are demonstrated not by what change an influencer starts, but rather what they can stop.

Woodside Petroleum has taken a small step on the potential Scarborough LNG project, signing an agreement with co-owner BHP Billiton to become the operator of any future development and granting the miner an option to increase its share of the project by 10 per cent.

A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.

The state's domestic gas market will soon receive a small supply boost, with Woodside Petroleum's Pluto project expected to begin pumping up to 25 terajoules a day into the network from the second half of this year.

SPECIAL REPORT FOR SUBSCRIBERS ONLY: The annual Business News remuneration survey has data and in-depth analysis on hundreds of WA company directors and executives. We identify the top earners, including the people who qualified for large bonuses and equity incentives, in some cases year after year. The survey also reveals a big jump in the number of WA people who earned incomes of $1 million or more last financial year.

Royal Dutch Shell has sold its entire shareholding in Woodside Petroleum for $3.5 billion, after strong demand from institutional investors prompted the energy giant to upsize its previously announced sell-down.

Energy giant Woodside Petroleum has posted a fall in third-quarter production following scheduled maintenance and a lower share of pipeline gas from the North West Shelf.

The joint venture partners of the Wheatstone LNG facility near Onslow have hailed first production, with the first of two gas processing trains coming online today.

Woodside Petroleum chief executive Peter Coleman said today that changes to the ownership of the North West Shelf Venture would be a natural progression as it became an infrastructure asset servicing offshore gas fields.

Energy giant Woodside Petroleum has posted a 6.6 per cent fall in second quarter production following outages at some of its facilities and lower share of pipeline gas from the North West Shelf.

Woodside Petroleum says its joint venture partner at the SNE oilfield offshore Senegal, FAR, has declined to support a transition for the energy giant to eventually take over as operator of the operation.

Energy giant Woodside Petroleum has inked an agreement for the supply of liquefied natural gas to an Indonesian government-owned enterprise.

The salary package for Wesfarmers' new managing director acknowledges the reality that many large companies pay big annual bonuses every year.

Woodside Petroleum plans to boost cash flow through expansion of existing projects over the next few years and has ruled out investment in any major greenfield projects in the near term.

Woodside Petroleum managing director Peter Coleman has sketched out plans to convert the two LNG plants on the Burrup Peninsula into an integrated processing hub that would take gas from the Browse Basin and other undeveloped fields off the Western Australian coast.

Premier Mark McGowan has gently chided the mining and energy sector, saying it needs to lift support for local manufacturing, apprentice training and local employment.

Offshore oil & gas: Woodside Petroleum's February launch of a new supply ship that can use liquefied natural gas as a fuel is an early move in what could be a larger focus on driving new market demand.

Woodside Petroleum boss Peter Coleman has received $2.9 million worth of shares in the Perth-based energy giant as part of a short-term incentive under his executive employment contract.

Woodside Petroleum's boss received lower pay in 2016 despite the energy giant posting a surge in profitability, after the company restructured executive pay following a shareholder vote.

Woodside Petroleum says it is considering new facilities at Pluto LNG to distribute the fuel in the Pilbara for mining and marine usage, as the company bounced back from large write-downs to post a sharp rebound in profitability for the first half of the 2017 financial year.

Outgoing Wesfarmers boss Richard Goyder has been revealed as successor to Michael Chaney as chairman of energy giant Woodside Petroleum, a week after we was named the next chairman of the AFL.

Oil and gas producer Woodside Petroleum achieved a 3 per cent lift in production in calendar 2016, although the company expects output to fall by up to 12 per cent in the year ahead.

SPECIAL REPORT: The detailed reporting of remuneration by listed companies means it should be easy to determine the state's best-paid chief executive, but the reality is more complicated.

Energy giant Woodside Petroleum says it has completed its $US440 million purchase of ConocoPhillips' stake in an oilfield off the coast of Senegal, despite leaving a contractual dispute with one of the project's partners unresolved.