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Energy giant Chevron has committed $US2 billion ($A2.7 billion) next year towards completing its Gorgon and Wheatstone projects in Western Australia.

Four Western Australian projects will be included in a planned spin-off from energy player Santos in a bid to increase cash flow and cut debt, including facilities at Thevenard and Barrow islands.

The Australian share market has opened broadly higher with banks and miners leading a year-end "Santa Claus rally".

Wall Street surged on Wednesday, with the S&P 500 and Dow hitting fresh record intraday highs, as equities continued their march upward after the presidential election of Donald Trump, even as his comments on prescription drug pricing wounded the healthcare sector.

The Australian dollar has strengthened against its US counterpart and is once again heading toward 75 US cents.

Oil prices eased overnight on bearish US petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years.

Gold rose further from this week's 10-month low overnight as the US dollar eased against the euro ahead of a European Central Bank meeting, and on the view that a US rate rise next week was already reflected in prices.

Bunnings chief to renovate WesfarmersOutgoing Bunnings boss John Gillam will advise Wesfarmers on asset sales, acquisitions and the arriv

Commerce Minister Michael Mischin will today encourage local defence contractors to apply for a state government industry assistance program to fund productivity enhancements, speaking at the Chamber of Commerce and Industry WA defence conference.

Perth should consider increased use of private water recycling infrastructure in new residential developments to reduce costs for consumers and lower the capital burden on the taxpayer, according to a report by ACIL Allen to be released today.

The state's domestic gas market is expected to have excess supply of 640 terajoules per day by 2021, according to the Australian Energy Market Operator, although a delay in commencement of production at the Wheatstone or Gorgon domestic gas facilities could lead to a tightening of the supply as early as next year.

The state government should pay for a slice of the environmental approval costs and release more freehold land in the Pilbara to encourage the growth of agribusiness in the region, according to spe

A new centrifuge at the university could contribute significant cost savings to offshore energy projects.

The share market closed nearly 1 per cent higher, boosted by a positive session on Wall Street and confidence the resources sector will continue to improve.

Shares in oil and gas explorer Transerv Energy tumbled today as managing director Stephen Keenihan announced his resignation in the wake of news yesterday that the company's proposal to acquire assets owned by Origin Energy had been terminated.

Shark detection technology developed by Perth-based environmental consultancy Astron and its partner, C4D Intel, has completed its first prototype field trials.

Mount Lawley liquor retailer Grand Cru Wine Shop has undergone an evolution since being established more than 42 years ago.

The owners of a new Northbridge eatery have placed a big emphasis on connecting with the community, and used crowdfunding to provide one element of that relationship.

Copper explorer MOD Resources has released a scoping study for an open-pit mine at its T3 project in Botswana, which has an estimated development cost of $US135 million ($A181.7 million).

LandCorp is seeking businesses to populate a new industrial estate in Nambeelup, a key plank of the state government's plan to create more than 33,000 jobs in the Peel region by 2050.

A proposal to roughly double the royalties paid by the state's two biggest iron ore miners was divisive and could set a dangerous precedent for fixing budget issues, Fortescue Metals Group chief executive Nev Power told this morning's Business News Success & Leadership breakfast.

Creating a tourism precinct on the southern side of Fremantle Port has again been floated as a possibility, after the City of Fremantle put out the call for government and private sector support for its next wave of development opportunities.

TPG Telecom has reaffirmed its annual earnings guidance in a bid to ease investor concerns, a week after rival Vocus Communications spooked the market with its worst-than-expected earnings update.

Don't view a knockback or similar hurdle as a reason to give up, but rather an added incentive to make the sale.

Perth-based land developer Peet has sold a parcel of land in Victoria for $30.5 million, but it doesn't expect to receive any proceeds from the deal for nearly a year.

Bunnings' long-serving chief executive John Gillam has announced he is stepping down from the role, but will continue to serve the business as an adviser.

A perfect storm has pushed Australia's economy halfway to recession, but economists are optimistic about a year-end rebound.

Mineral sands miner Iluka Resources has revived its $375 million takeover of Sierra Rutile, a week after the deal fell under a cloud due to geotechnical risks at the target's tailings dams.

The Australian share market has opened more than half a per cent higher in the wake of a positive lead from US markets and confidence among investors.

Wall Street has climbed as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high.

The Australian dollar is nearly flat with traders taking a breather ahead of the release of Australian GDP figures and next week's US interest rates meeting.

Gold hovered near 10-month lows on Tuesday as the market braced for an increase in US interest rates this month and anticipated more monetary tightening next year.