02/05/2008 - 06:22

Today's Business Headlines

02/05/2008 - 06:22

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Woodside worth $100: Voelte; Banks confront a sober new era; Allco signals $1.5bn loss; Administrators for Baraka; Santos surges on speculation it will be the next target for oil majors

Today's Business Headlines

Woodside worth $100: Voelte
BG Group's surprise $13 billion takeover for Origin Energy values Woodside Petroleum at $69 billion, almost twice its current worth, according to the Perth oil and ags group's outspoken chief executive, Don Voelte. The West

Banks confront a sober new era
The worst of the global credit crunch is over, according to Westpac chief Gail Kelly, who has announced a 34 per cent rise in profit for the six months during the global lull. The Australian


Allco signals $1.5bn loss
After being forced to slash and sell assets to pay debts, Allco Finance Group has reported it could post an annual loss of more than $1.5 billion. The Fin Review

Administrators for Baraka
West African oil and gas hopeful Baraka Petroleum has plunged into administration, spelling the end of a venture investors had hoped would be sequel to millionaire petroleum geolgist Max de Vietri's triumphat Hardman Resources. The West

Santos surges on speculation it will be the next target for oil majors
Australia's listed coal seam methane sector rocketed to a record high yesterday, adding $1 billion to the value of 17 listed stocks, as speculation mounted that the super oil majors, along with the Japanese and Chinese oil giants, would make a move on the sector following BG Group's $12.9 billion bid for Origin Energy. The Australian

 

THE WEST AUSTRALIAN

Business: Strengh in aluminium mrkets has prompted BHP Billiton and its minority Japanese partners to take the plunge and finally commit to a $2.3 million expansion of the Worsley Alumina refinery in WA's South West.

Oil and gas support services outfit Mermaid Marine is expected to today complete a $25 million bookbuild pitched at 1.40 to $1.55 epr share as it prepares for an upgrade of its Dampier supply base to accomodate gas giant Chevron as a major tenant.

West African oil and gas hopeful Baraka Petroleum has plunged into administration, spelling the end of a venture investors had hoped would be sequel to millionaire petroleum geolgist Max de Vietri's triumphat Hardman Resources.

BG Group's surprise $13 billion takeover for Origin Energy values Woodside Petroleum at $69 billion, almost twice its current worth, according to the Perth oil and ags group's outspoken chief executive, Don Voelte.


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