This week's issues

Industry dismay over RBA rate rise

 The Reserve Bank of Australia's decision to lift the official cash rate has caused surprise and dismay from various lobby groups, with one from WA saying the central bank has acted too hastily. The RBA this week lifted the official rate by 25 basis points to 3.25 per cent, making Australia the first western economy in the world to lift interest rates.

State, Woodside sign gas hub deal

 The state government and Woodside have signed an agreement that will accelerate key studies and planning for a liquefied natural gas hub for Browse Basin gas at James Price Point. Premier Colin Barnett said the preliminary development agreement appointed Woodside as a foundation commercial proponent for the precinct and as a partner with the Liberal-National government in bringing the project to completion.

Norway's Acergy wins Apache contract

 Apache Energy has awarded a $US170 million ($A195 million) contract to a Norwegian and Malaysian joint venture for works at its Devil Creek gas project offshore Western Australia. Norway's Acergy and Kuala Lumpur-based SapuraCrest Petroleum were awarded the contract, which will be carried out by the SapuraAcergy JV. Perth-based Clough had been one of three bidders for the contract.

Woodside spearheads new WA gas hunt

 Woodside Petroleum has committed to spend at least $120 million to explore for gas in its newest permit off the Pilbara coast. Woodside was today named the winning bidder for a big WA permit in deep water more than 300km north west of Exmouth.

Gunns in bid for Great Southern assets

 Timber company Gunns has put itself into the bidder's circle for Great Southern's assets, a day after it lost its bid for Timbercorp's forestry assets to a US-based company.