Australia Archives

From Bear Country The Energy News Beat Podcast – We interview Ryan Ray, Former US Presidential Candidate

June 16, 2021 Stu Turley

The Energy News Beat monthly check-in – We check in with Ryan on China, Australia, and Coal. Ryan once had a vote for a United States Presidential race. Now that we have established his political […]

Woodside Petroleum is in the final stages of working out costs on its Scarborough gas and Pluto LNG expansion project, as it faces rising labor and steel costs, the company’s boss said on Tuesday. The Scarborough development offshore Western Australia will feed an expansion of Woodside’s Pluto LNG (liquefied natural gas) plant, with the combined project previously estimated at $11.4 billion. Acting CEO Meg O’Neill, who took the reins in April, said the company is facing skyrocketing steel prices for a project where raw steel costs amount to 10% or 15% of total costs, and acknowledged that there is tight competition for workers amid a mining boom in Western Australia. At the same time, she said Woodside had been able to work out some cost savings in the project design with its contractors after putting it on hold last year, when oil and gas prices crashed amid the COVID-19 pandemic. “It’s probably too early to say, but there’s some cost pressures on the ledger, there’s some cost savings on the ledger and as soon as we have those updated bids from our contractors, we’ll be communicating with our shareholders,” O’Neill said at Credit Suisse’s 8th Australian energy conference. The Scarborough and Pluto LNG expansion project is the company’s only big growth option in the near term. Woodside is targeting a final investment decision with its partner BHP Group within the next six months. The Western Australian government said on Tuesday it had approved Woodside’s plan to cut emissions from the Pluto LNG project by 30% by 2030 and reach net zero by 2050, which the state’s environment minister said represented a sharp reduction in emissions from levels approved in 2007. The gas industry two years ago fought to block a proposal by the state’s environment regulator that would have required all new projects with carbon emissions of more than 100,000 tonnes to fully offset their emissions. Source - www.oedigital.com

Woodside Faces Cost Increase at $11B Scarborough Gas Project

June 10, 2021 Stu Turley

Woodside Petroleum is in the final stages of working out costs on its Scarborough gas and Pluto LNG expansion project, as it faces rising labor and steel costs, the company’s boss said on Tuesday. The […]

India, Australia, China, Russia pushing ‘massive’ coal expansion

June 5, 2021 Stu Turley

Coal producers are actively pursuing 2.2 billion tonnes per annum of new mine projects around the world, a growth of 30 per cent from current production levels, a new report from Global Energy Monitor said on Thursday. The […]

Exxon’s Newest Activist Investor Is a ‘Space Cowboy’

June 4, 2021 Stu Turley

Exxon announced Wednesday that a third new member has been appointed to the company’s board, following a week of vote counting after the company was caught by surprise by a shareholder insurrection last week led by activist investor Engine […]

Australia identifies critical mineral opportunities

June 3, 2021 Stu Turley

The Outlook for Selected Critical Minerals indicated that these minerals will play a critical role in the global industrial shift towards electric vehicles, renewable energy generation and stationary battery storage systems. Economic security and supply chain […]

Shell wins $2.5 bln Australian power contract with battery storage

May 25, 2021 Stu Turley

SYDNEY: Australia’s New South Wales (NSW) state said on Tuesday it has awarded a A$3.2 billion ($2.5 billion) 10-year power supply contract to Royal Dutch Shell PLC , which includes supplying battery back-up power for wind and solar energy. A 100 […]

Woodside joins Chevron in Canada’s Kitimat LNG exit

May 17, 2021 Andy Del Prado

Australian independent Woodside Petroleum is exiting its 50pc interest in the proposed 21.2mn t/yr Kitimat LNG project in Canada’s British Columbia, which is expected to weigh between $40mn-60mn on the firm’s expected 2021 profit. Chevron, […]

Global Forecast (5-17-2021) – Key Dates from Global Monitor

May 17, 2021 Stu Turley

From: Global Forcast Key Dates May 16 – China industrial production data for April. Data for both industrial production and retail sales are expected to reflect a robust ongoing recovery in the Chinese economy, coming in […]

Australia tops step-change energy transition scenario

May 7, 2021 Stu Turley

Sydney, 7 May (Argus) — The rate of investment and construction of more power generation capacity in Australia from renewable sources such as wind and solar is exceeding the most optimistic scenario, known as step […]

Shell’s $12 Billion Prelude LNG Barge Drifts Toward A Finale

April 26, 2021 Andy Del Prado

Prelude or finale, that’s a question some observers are starting to ask about a $12 billion ship called Prelude which was supposed to revolutionize the liquefied natural gas (LNG) industry. Built by Royal Dutch Shell, […]