Energy giant Woodside Petroleum has entered into an agreement to buy half of BHP Billiton's stake in the Scarborough offshore gas fields in the Carnarvon Basin for up to $US400 million ($A528 million).
Costs would need to come down a further 25 per cent to breakeven at around $US40 per barrel of oil for the Browse LNG project to proceed, according to Woodside Petroleum managing director Peter Coleman.
Chief executive salaries in WA are continuing to ratchet down, and companies are seeking more flexibility, a study of nearly 30 new appointments this year has found.
Energy giant Woodside Petroleum will proceed with development of its $US1.9 billion ($A2.6 billion) Greater Enfield oil project in the Carnarvon Basin.
Woodside Petroleum has received a first strike against its remuneration report, with about 27.6 per cent of shareholders voting against it, while chairman Michael Chaney has flagged he may not step down at the next AGM as previously suggested.
Total chief executive Patrick Pouyanne has flagged that the next batch of LNG projects may not be as far off as some think, speaking at the LNG18 conference today.
Woodside chief executive Peter Coleman told the LNG 18 conference in Perth today there could be opportunities for LNG producers to move further into downstream markets, particularly in developing countries, where demand for gas existed but barriers to entry had slowed take up.
LNG 18 conference organising committee chair Grant King is positive about the industry's future, despite the low oil price environment and a predicted short-term oversupply, saying international demand growth for electricity will underpin a need for gas.
SPECIAL REPORT: Western Australia's next major greenfields liquefied natural gas project could be a decade away after Woodside last month decided against further progressing its Browse floating LNG facility.
The hotel industry expects up to a quarter of Perth's hotel rooms to be filled by delegates attending next month's LNG18 conference, though the number of people attending and the flow-on economic benefits to the state remain unclear.
SPECIAL REPORT: There has been a major shift in business influence in WA amid waning international investment and, with two elections on the way, there is a prospect of even bigger changes in political influence. Click through to see our listing of WA's most infliential leaders in politics and business.
Energy giant Woodside Petroleum has put on hold its multi-billion dollar Browse liquefied natural gas project in view of the challenging market environment.
The global LNG market could soon be in sharp oversupply, with Australia contributing about a third of that excess in what will become a buyers' paradise, an international expert says.
Energy giant Woodside Petroleum has signed a project development agreement with US-based Sempra Energy for a potential liquefied natural gas plant in Texas.
Energy giant Woodside Petroleum has reported a sharp fall in profit on the back of writedowns and says now is not the time to be reckless as it mulls over the future of its key Browse project.
Energy giant Woodside Petroleum's decision to search for gas off the coast of Myanmar has proved fruitful so far, with the company announcing its second discovery this year.
Woodside Petroleum expects to take a hit of up to $US1.2 billion ($A1.7 billion) as it writes down the value of its energy assets following the slump in oil prices.
If Woodside Petroleum is ever looking for a corporate slogan it could borrow a saying from the Dutch philosopher Erasmus: “in the land of the blind the one-eyed man is king”.
Woodside Petroleum and its joint venture partners have given the go-ahead to a $2 billion subsea development at the North West Shelf Project off the Pilbara coast.
SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.
Rob Cole has resigned as managing director of Adelaide-based Beach Energy, after taking leave to attend to family matters in Perth. His resignation comes just six months after commencing with Beach.
Woodside Petroleum's ambitious play for Oil Search is a rare example of a Perth-based company being the bidder in a big takeover. Click through to see Business News' listing and analysis of $1 billion-plus M&A deals in WA over the past 20 years.
If Woodside Petroleum's one-for-four share swap bid for rival LNG producer Oil Search was plan A, then plan B, when it comes, had better be a beauty, because so far no-one apart from Woodside management can say anything positive about the proposed takeover.
Woodside Petroleum has spent the past 60 years focused on the development of its own projects in Australia, but in the space of one year, two major takeover deals collectively worth $15 billion look set to reshape the Perth-based energy giant.
Energy giant Woodside Petroleum has awarded a front-end engineering and design contract to a consortium comprising two NYSE-listed companies, for its proposed Browse FLNG project.
Woodside Petroleum has stuck with its planned timetable for the Browse gas project, announcing today it has reached agreement with its joint venture partners to commence front-end engineering and design ahead of a final investment decision by the end of 2016.
Woodside Petroleum has provided some telling insights into how it plans to achieve $800 million in productivity gains by the end of next year; as well as chopping 600 jobs, it has slashed the number of vendors supplying its Australian business from 3,000 to 800.
Perth will play host to chief executives from seven of the world's biggest energy and engineering companies during the LNG18 conference, to be held in April next year.
