13/04/2016 - 06:41

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13/04/2016 - 06:41

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Gorgon lessons but no regrets

John Watson, one of the oil and gas world’s most senior executives, said yesterday that it was a lesson learnt from the troubled $US54 billion ($70.45 billion) Gorgon LNG venture, though Chevron had “absolutely” no regret about going ahead with the Barrow Island project. The West

Spot pricing threatens LNG supply glut

The global liquefied natural gas industry could be hit by an iron ore-style wave of oversupply and subsequent price meltdown if it pushes towards spot pricing mechanisms, Woodside Petroleum chief executive Peter Coleman has warned. The Aus

Palmer faces jail risk over $200m cash siphon

Federal MP Clive Palmer faces the possibility of up to five years’ jail, bankruptcy and the unravelling of his financial empire after he was found to have siphoned more than $200 million from his cash-strapped Queensland Nickel to his other businesses before its collapse. The Aus

Plan for super to pay uni debt

Allowing graduates to repay university debt with superannuation savings would boost their disposable income by $2038 a year and save the budget more than $500 million over four years if as few as 10 per cent opted into the voluntary scheme, independent modelling shows. The Fin

Enthusiasm cools for Prelude FLNG set-up

Floating LNG will not be the panacea for the world’s gas industry but an “important tool”, says Royal Dutch Shell in a markedly more downbeat assessment of a technology it described as a true breakthrough just five years ago. The West

Forrest calls for food free-trade zone in China

The Australia Sino One Hundred Year Agricultural and Food Safety Partnership, a group co-founded by businessman Andrew Forrest, wants China to set up a free trade zone near Shanghai for Australian exports. The Fin

Daily car journey gets easier

Congestion levels around the city may be beginning to ease, based on the latest travel time data from Main Roads WA. The West

 

 

The Australian Financial Review

Page 1: Twenty-eight countries would mount the most ambitious international investigation in history to hunt down tax evaders identified in the Panama Papers leak under a plan by Australian Tax Commissioner Chris Jordan.

Page 3: New parents who take at least six months out of the workforce to raise a child will no longer have to fret about losing their coveted Qantas frequent flyer status for up to 18 months.

Page 4: Treasurer Scott Morrison will meet the Australian Securities and Investments Commission this week as part of efforts to head off a royal commission into the banks by boosting regulators’ powers and resources.

Page5: Allowing graduates to repay university debt with superannuation savings would boost their disposable income by $2038 a year and save the budget more than $500 million over four years if as few as 10 per cent opted into the voluntary scheme, independent modelling shows.

Page 6: The Australia Sino One Hundred Year Agricultural and Food Safety Partnership, a group co-founded by businessman Andrew Forrest, wants China to set up a free trade zone near Shanghai for Australian exports.

Page 9: Australians are working an extra 2.5 days a year to pay off their income taxes and superannuation, according to figures that show the nation recorded the third-fastest jump in tax burden across the OECD in 2015.

Page 13: Wesfarmers’ new department stores chief Guy Russo is under pressure to assess whether to accelerate the turnaround strategy at Target or come up with a new strategy following a sharp fall in earnings in the December half.

It might still be three months until Rio Tinto’s new chief executive Jean-Sebastien Jacques officially takes the top job, but already investors and analysts are looking to understand what the Frenchman will make his top priorities.

Chevron’s global chief executive John Watson said unless Australia reduced its cost base it would lose out on further investment in LNG to supply rivals such as Canada and east Africa, while other fuels would gain ascendancy.

Page 15: BHP Billiton and Rio Tinto will have rivals on the copper acquisition trail, with former ASX-listed miner PanAust keen to buy assets with its new-found financial strength.

 

 

The Australian

Page 1: Federal MP Clive Palmer faces the possibility of up to five years’ jail, bankruptcy and the unravelling of his financial empire after he was found to have siphoned more than $200 million from his cash-strapped Queensland Nickel to his other businesses before its collapse.

Page 2: The Australian economy is surging, with employers set to boost hiring despite warnings that the global outlook is approaching “stalling speed”.

Radical proposals to help fund infrastructure projects, including high-speed rail, by capturing rising land values could become an “unwelcome” tax impost and be passed through to consumers in price hikes, warn shopping centre giants and retailers.

Page 7: Renowned psychiatrist and author Theodore Dalrymple has warned Australia’s elites against embracing the sort of amoral intellectual vanity that has seen his native Britain waylaid by family breakdown, vulgarity and rampant welfarism.

Page 19: The global liquefied natural gas industry could be hit by an iron ore-style wave of oversupply and subsequent price meltdown if it pushes towards spot pricing mechanisms, Woodside Petroleum chief executive Peter Coleman has warned.

China’s online consumers have been warned of delays in accessing sought-after Australian dairy and vitamin products as confusion over Chinese tax rules on imported goods escalates.

Page 22: Chevron’s global chairman and chief John Watson has pushed back against the concept of a global price on carbon, clashing with his counterpart at fellow super major Shell by declaring the developing world needs cheaper energy and that a carbon price could increase “energy poverty”.

 

 

The West Australian

Page 3: WA’s biggest health insurer has had a “gravely concerning” increase in members with type 2 diabetes being admitted to hospital, recording almost 9500 extra claims last year compared with three years ago.

The Reserve Bank has sparked a social media avalanche led by republicans and bird lovers after revealing the new $5 note design.

Page 5: More than $1 million will be spent on building an artificial reef off Mandurah in a pre-State Budget sweetener aimed at the big number of recreational fishers.

Page 10: Congestion levels around the city may be beginning to ease, based on the latest travel time data from Main Roads WA.

Page 15: Dozens of apartments will be able to use, store and trade power under a world-first trial of microgrid technology to be unveiled in Perth’s south.

Page 20: A campaign by Kate Moir, who escaped from serial killers Catherine and David Birnie and wants to change the law that says WA’s worst murderers must be considered for parole every three years even if they do not apply, has received parliamentary support.

Business: John Watson, one of the oil and gas world’s most senior executives, said yesterday that it was a lesson learnt from the troubled $US54 billion ($70.45 billion) Gorgon LNG venture, though Chevron had “absolutely” no regret about going ahead with the Barrow Island project.

After countless reviews, endless political mudslinging and much debate, WA homeowners and businesses will finally get their first taste of the Turnbull Government’s fibre-to-the-node technology after its official launch yesterday.

Former Avoca Resources executive Tony James is set to get back into the management saddle, taking control of Queensland-focused gold hopeful Carbine Resources this morning.

Floating LNG will not be the panacea for the world’s gas industry but an “important tool”, says Royal Dutch Shell in a markedly more downbeat assessment of a technology it described as a true breakthrough just five years ago.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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