Energy

The oil industry faces the biggest risk of unnecessary investment as growth in demand is abating, the think tank says.

Energy companies' risky $3 trillion bet

Rakteem Katakey 11:22 AM   In Australia alone, more than $140 billion in fossil fuel projects are at risk as producers invest in projects with a doubtful future, non-profit think tank warns.

Oil lower as Mideast tensions ease

US stockpiles of oil rose 961,000 barrels last week to 488.2 million barrels, within 3 million barrels of the record set in April.

Robert Tuttle 6:43 AM   Oil fell in New York for the first time this week as fears of Russian military retaliation against Turkey dissipated.

Sell call for Spark given 'very high' TransGrid price

Power

Brian Robins 6:56 PM   Questions emerge from analysts over value in $10 billion deal.

AGL moves to discard tradition for renewable energy

Andy Vesey has stepped up AGL Energy's commitment to solar power.

Angela Macdonald-Smith 5:20 PM   The traditional ways of underpinning renewable energy ventures with long-term customer offtake contracts no longer work in today's changing market, AGL chief executive Andy Vesey has revealed.

This island says everything about our economy

Curtis Island: The majority of people coming to the tropical isle these days are there to help build the LNG facilities, not for the pristine beaches or endangered dugongs and snubfin dolphins.

James Paton   On the largest island in the Great Barrier Reef, $80 billion of LNG terminals are helping feed China's hunger for energy. The next major construction project may appeal to its tourists.

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Asset sale proceeds set to top $20b

The NSW government has announced a deal to sell the backbone of the nation's electricity network, Transgrid, to a consortium of local and offshore buyers.

Brian Robins   Strong global demand for Australian infrastructure has delivered the NSW government a record $10.26 billion from the sale of one of its power networks.

This OPEC member likes lower oil prices

Military ceremony in Jakarta, Indonesia: As a country that both consumes and produces, it can provide OPEC with a bridge between the two sides of the oil market, it claims.

Is Indonesia's joining the oil cartel just another sign OPEC has abandoned its role of defending prices?

BG gets the keys for QCLNG

BG's QCLNG venture shipped its first cargo from Gladstone in early January.

Angela Macdonald-Smith   BG Group has officially taken over the keys for its $US20.4 billion Queensland Curtis liquefied natural gas project, formally declaring the start of commercial operations.

NSW set to reap over $20b from asset sales

The government sold Transgrid, the high voltage network owner, for $10.2 billion to a consortium of Canadian, Middle East and local investors on Wednesday.

Brian Robins   With $10.2 billion in hand from the sale of its first tranche of electricity distribution assets, the NSW government is set to reap more than $20 billion from the sale of all three assets on the market.

Oil rises amid heightened Mideast tensions

Traders have been betting WTI will fall below the 6-1/2-year low of $US37.75 set on August 27, and Brent will tumble too.

Oil jumped after Turkey shot down a Russian warplane near the border with Syria, fanning concern that conflict in the region may intensify.

Finance giant Allianz turns back on coal

German broadcaster ZDF quoted Allianz chief investment officer Andreas Gruber as vowing to shift investments out of coal and into renewables.

Peter Ker   The German financial services giant has vowed to offload significant coal holdings within six months.

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Woodside faces costs battle on WA gas projects

Woodside, along with most energy producers, is scrambling to shave budgets on large capital projects like Browse due to a 45 per cent fall in the oil price in the past year.

Perry Williams   Woodside Petroleum faces a battle to rein in costs on the Browse and Wheatstone LNG projects in WA, according to Macquarie analysts.

World's top miners risk $14b of earnings on carbon cost

Queensland and Western Australia have failed to come up with new revenue streams after end of mining boom.

Jesse Riseborough   Vale and BHP Billiton scored best in a study on carbon-regulation readiness, while Glencore was the clear laggard.

Oil whipsaws on Saudi pledge

The Saudi statement came as oil held barely above 2-1/2-month lows, and was greeted with a mix of enthusiasm and scepticism.

Brent settled steady and US crude slightly lower after prices were whipsawed by volatility.

Oil surges on Saudi Arabia pledge

Brent for January settlement climbed 89 cents, or 2 per cent, to $US45.55 a barrel on the London-based ICE Futures Europe exchange.

Mark Shenk   Oil advanced on Saudi Arabia's repeated pledge to work with OPEC and other producers to stabilise global crude markets.

Ausgrid is next in line for losing TransGrid bidders

Hastings Funds Management has led a group to a winning bid for TransGrid

Angela Macdonald-Smith   The NSW government is calling for expressions of interest on Ausgrid, a back-up opportunity for those investors who didn't succeed in the TransGrid bidding.

China test for Baird as power sale cleared by FIRB

The pressure is on NSW Premier Mike Baird.

Angela Macdonald-Smith and John Kehoe   All four bidders for the prized $9 billion NSW transmission network owner TransGrid have been cleared by the FIRB, despite the growing controversy over sales of strategic assets to foreign companies.

Santos works on retail investors

Santos executive chairman Peter Coates has been explaining the rights issue to retail brokers.

Angela Macdonald-Smith   Santos is highlighting the wide gap between broker valuations of its assets and its share price as it seeks to convince retail shareholders they should take up its $2.5b rights issue.

Woodside casts doubt on Oil Search funding capacity

Woodside says an Oil Search takeover would improve funding for PNG gas projects.

Angela Macdonald-Smith   Woodside says its $11.6 billion takeover of Oil Search would strengthen investment for growth projects but reiterated its original offer is fair.

NT gas pipeline goes from dream to reality in a year

Northern Territory Chief Minister Adam Giles, left, and Jemena managing director Paul Adams announce the NEGI pipeline this week in Darwin.

Angela Macdonald-Smith   Little more than 12 months ago the Northern Territory's ambitious plan to link its pipelines into the national grid was the object of great scepticism, even as a bit of a joke in some quarters. But now Northern Territory Chief Minister Adam Giles is the one who is smiling.

Gas buyers turn to FIRB after ACCC clears Shell-BG tie-up

Sooner not later: East coast manufacturers want to access gas from Shell's Arrow Energy.

Angela Macdonald-Smith   Royal Dutch Shell has won unconditional regulatory approval for its $98 billion takeover of BG Group.

Renewables surge to kick off deal activity

EY's Matt Rennie predicts more wind sector activity.

Brian Robins   The wave of renewable electricity generation capacity to hit Australia over the next few years will result in more mergers and acquisitions.

Australia's quiet commitment to decarbonise the economy wins applause

Touching down: Prime Minister Malcolm Turnbull arrives in Antalya, Turkey for the G20 summit last weekend.

Peter Hannam and Tom Arup   The Turnbull government has quietly committed Australia to support decarbonising the world economy as one of the goals for this month's global climate summit in Paris, a move that has drawn applause.

UK aims to close coal-fired power plants by 2025

UK closures will eat into demand for coal.

Britain aims to close its coal-fired power plants by 2025 under plans announced on Wednesday, becoming the first major economy to put a date on shutting coal plants to curb carbon emissions.

US oil drops below $US40 on global glut

US crude supplies are more than 100 million barrels above the five-year seasonal average.

Mark Shenk   Oil dropped below $US40 a barrel in New York for the first time since August as producers' output swelled global inventories to a record.

Gloucester council snubs AGL's gas project

Protesters wave placards outside AGL's Sydney headquarters during a demonstration in 2014.

Peter Hannam   Gloucester Shire fears being treated as second class citizens.

NT gas pipeline reignites fracking concerns

NT Chief Minister Adam Giles (left) and Jemena managing director Paul Adams say the new pipeline will allow NT gas to flow eastwards.

Angela Macdonald-Smith   Environmental groups and traditional owners warned they would block the Northern Territory's new $800 million gas pipeline to be built by Jemena.

Paris: another reason to get off oil

Malcolm Maiden.

Malcolm Maiden   The Paris attacks aren't a reason to call off the Paris climate conference. They are another reason to hold it.

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Tax take flatlines as gas sector explodes

An LNG tanker being loaded at the North West shelf.

Heath Aston   A federal tax designed to share profits from the oil and gas sector with the Australian public is barely raising a single extra dollar.

Jemena to build $1b NT gas pipeline to Qld

The NT government has selected a route to Queensland to send its gas to east coast buyers.

Angela Macdonald-Smith   The Northern Territory government has decided on a lower-cost northern route to link its gas pipelines with the national grid.