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East Timor minister for petroleum and mineral resources Alfredo Pires.

East Timor sticking to its guns on Sunrise

East Timor’s resources minister Alfredo Pires has revealed new studies by his country show an onshore liquefied natural gas plant for Woodside’s shelved Sunrise project is a commercially viable option.

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Comments

Good on you Mr Pires, I think that the development on onshore LNG plants has the ability to employ 100's if not 1000's of people and the training and upscale of the local people will be of great value to the community. With all the free trade agreements so much (nearly all) of the work is being done overseas and shipped in FLNG has almost no value to the working class people and I wish our premier was as brave as you in rejecting FLNG. The FLNG ships and built in Korea, designed in France and if the need arises for major work heave up the anchors and off they go to some where like Singapore for maintenance. No work left for locals not to mention the tax they will doge by not having any part of the plant attached to the main land. We are shooting our selves in the foot selling off all our resources and not creating a permanent and lasting flow of work, upskilling and losing out on taxation that could be creating a fund to assist in the transition when oil/gas has gone and/or is not used any more. We have a "Future Fund" but this is dip into by our awesome politicians and is not managed anything like a "Future Fund: should be where is any of that money not that workshops closing down and unemployment is sky rocketing. I hope you win your fight in achieving onshore LNG for you country.

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Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
195thMineral Resources59%18%
231stSouth3245%0%
393rdWoodside Petroleum9%4%
568thFortescue Metals Group-19%5%
722ndAtlas Iron-45%-55%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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31/10/17
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Total value as at the date of the transaction
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Revenue

1st-Fortescue Metals Group$10,999.7m
2nd-South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
498 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Woodside Petroleum

1stPeter Coleman$7.555m
18thMike Utsler$1.986m
22ndRobert Edwardes$1.668m
Ranked by total remuneration from all listed WA companies

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