Energy

Jemena is hunting customers for the NEGI gas pipelines.

Jemena remains positive on NT gas line

Angela Macdonald-Smith 5:56 PM   Gas pipeline developer Jemena says it can still fill the new $800 million pipeline from the Northern Territory to Queensland, despite the threat of a Labor moratorium on fracking.

IEA slashes gas demand outlook for fourth year

Global gas prices will remain under pressure as "huge amount" of LNG export capacity is coming online just as demand ...

Anna Shiryaevskaya 9:35 AM   While oil markets will start re-balancing after a slump next year, an oversupply in natural gas won't disappear until the end of the decade, the International Energy Agency said.

Oil Search 'quietly confident' on deal

Oil Search CEO Peter Botten.

Angela Macdonald-Smith   Oil Search CEO Peter Botten says he is "confident" of shareholder support for his $US2.2 billion-plus takeover deal for InterOil.

Clough rebukes LNG producers

Australia's wave of new LNG projects are all starting production within the next couple of years.

Angela Macdonald-Smith   Clough's new chief executive has told gas producers that putting the screws on contractors is not the answer to cost hurdles for new projects.

'By far the biggest ever month'

Wind energy had a record month in May.

Peter Hannam   A windy May across south-eastern Australia helped smash wind energy generation records.

Woodside leaves door open on deals

Woodside CEO Peter Coleman could still look at larger scrip-based acquisitions.

Angela Macdonald-Smith   Woodside Petroleum chief executive Peter Coleman isn't totally ruling out a larger, scrip-based acquisition, while keeping the cap on any cash deal at about $US1 billion.

Oil closes above $US50 in New York

"The path of least resistance for crude is still higher," said Clayton Rogers, an energy derivative broker at SCS ...

Mark Shenk   Oil closed above $US50 a barrel in New York for the first time in more than 10 months as US crude stockpiles are estimated to have fallen for a third week.

Shell pares spending amid energy price slump

Shell will spend $US29 billion this year, it said on Tuesday. That compares with a May forecast for capital expenditure ...

Rakteem Katakey and Ryan Chilcote   Royal Dutch Shell cut spending plans further and promised increased savings following its record purchase of BG Group.

Bid 'materially undervalues' InterOil: unhappy investors

Phil Mulacek, the former chairman and CEO of InterOil, is seeking board control.

Brian Robins   Disgruntled shareholders in InterOil Corp say Oil Search's $US2.2 billion ($3 billion) takeover offer undervalues the company by as much as $US3 billion.

Gas industry was out to lunch: Woodside CEO

Woodside CEO Peter Coleman says the gas industry is partly to blame for its own woes.

Angela Macdonald-Smith   The natural gas industry has been "out to lunch", taking years to build LNG projects over budget and not snaring bigger market share, the Woodside CEO says.

CSG wastewater tanks adrift in flood

Bubbling up near CSG wells: AGL says it's carbon dioxide.

Peter Hannam   What's in those bubbles, anti-CSG activists want to know.

Quadrant Energy lays groundwork for float

Quadrant Energy is looking to expand its domestic gas business in Western Australia.

Angela Macdonald-Smith   Early ground is being laid for a potential listing of Western Australian gas producer Quadrant Energy by Brookfield Asset Management and Macquarie Capital.

Santos CEO sees need for shake-up to cut costs

Santos CEO Kevin Gallagher wants to cut costs at the oil and gas producer.

Angela Macdonald-Smith   Santos CEO Kevin Gallagher says a radical overhaul of gas project ownership structure is needed to improve efficiency and help get new investment off the ground.

LNG's 50pc surge a mystery

BG’s project will be the first of the three rival LNG projects in Queensland to start shipments, with production due to ...

Shares in LNG Ltd surged 21 per cent, a day after it told the Australian Stock Exchange it was unaware of why the shares had run up sharply.

Chevron's Krzywosinski sees 'challenges' in LNG market

Chevron's Gorgon project in WA is close to shipping its second LNG cargo after some early repairs.

Angela Macdonald-Smith   The outgoing Chevron Australia boss says the "challenging" market makes it more important for producers to cooperate to lift competitiveness.

Gas industry facing death in zero-carbon future, warns expert

Crude prices surged briefly last month on speculation the Organisation of Petroleum Exporting Countries would team up ...

Angela Macdonald-Smith and Mark Ludlow   The natural gas industry has been told to take its "gloves off" and snare its share of the world's shrinking carbon budget.

Origin keeps demerger option in reserve

Origin Energy CEO Grant King says a demerger could help eliminate a value "gap".

Angela Macdonald-Smith   Split may be needed if debt reduction doesn't reap expected rewards.

ALS defends quick rejection of takeover bid

ALS boss Greg Kilmister has dismissed a takeover offer from private equity.

Brian Robins   ALS has defended its brusque rejection of the $2.7 billion takeover offer received last week from private equity bidders, arguing it had been a rumoured takeover target for years, so it was well prepared

NSW, Vic may need to import LNG: Shell

The Shell logo sits on totem outside a gas station operated by Royal Dutch Shell Plc in Utrecht, Netherlands, on ...

Angela Macdonald-Smith   Shell says NSW and Victoria may have to consider importing LNG from Queensland or PNG if the states don't act to get onshore gas out of the ground.

BHP steps up carbon storage efforts

Steel production is one of the heaviest emitters of carbon

Brian Robins   BHP Billiton is stepping up its efforts to bolster the use of carbon storage technology, by funding a joint research program with Peking University to target the industrial sector.

LNG producers face test amid 'tidal wave' of supply

LNG producers may have to get used to years of oversupply.

Angela Macdonald-Smith   Liquefied natural gas producers need to develop a new range of trading and risk management skills to navigate their way successfully through the next several years of market oversupply, according to Deloitte.

Shell Australia chief decries 'dishonest' anti-gas campaign

The gas industry needs to tackle misinformation about gas industry head on, says Shell Australia chairman

Angela Macdonald-Smith   Shell Australia chairman Andrew Smith is set to urge politicians and industry leaders to tackle "head on" what he says is an orchestrated campaign unfairly demonising natural gas.

Oil watchers encouraged despite OPEC

Oil prices are still too low to encourage investment.

Angela Macdonald-Smith   Oil market watchers have taken heart that supply and demand are moving back into balance.

BP pays up to settle oil spill claims

BP shares plunged by more than 40 per cent in the weeks after the April 2010 disaster, as it became clear the company ...

Margaret Cronin Fisk and Laurel Brubaker Calkins   The oil giant has agreed to pay $242 million to US investors to settle claims its managers lied about the size of the 2010 Gulf of Mexico oil spill to prop up its share price.

Coles, Viva to add over 100 petrol station sites

More than 100 petrol station sites are expected to be added to the Coles-Viva Energy network during the next five years.

Angela Macdonald-Smith   Viva Energy and Coles have committed to expanding their petrol station alliance to add more than 100 sites during the next five years.

Basslink failure costs Tassie $560m and rising

Tasmania's power crisis has been relieved by recent rain.

Angela Macdonald-Smith   The remedy to avoid a repetition of the Basslink cable failure doesn't lie in an expensive second cable, according to consultancy EnergyQuest.

Batteries to make the grid 'the internet of energy'

The country's first Tesla EV owner, entrepreneur Simon Hackett, laments the incentives for EVs and the rooftop ...

Angela Macdonald-Smith   Rather than facing a "death spiral", the electricity grid is set to become the backbone of the "internet of energy", with the help of batteries – as long as policymakers get on board.

Mulacek takes legal action on InterOil board voting

Interoil's Elk-Antelope gas fields are at the heart of ASX-listed Oil Search's takeover ambitions.

Angela Macdonald-Smith   InterOil's former chief executive Phil Mulacek has started legal action in a bid to postpone the annual shareholder meetings until after the vote on Oil Search's $US2.2 billion-plus takeover deal.

ALS under takeover threat

The main factor in the latest loss was the $314 million write-down of asset values in the wake of the downturn in the ...

Brian Robins   A matter of days after being hit with a raft of 'sell' calls following disappointing annual results, laboratory testing outfit ALS is facing a potential change of control, seeking a suspension to trading in its shares.

Transgrid appoints Kerry Schott as chair

"You can use the laws in one jurisdiction to basically provide donations into another": Kerry Schott.

NSW power grid owner Transgrid has appointed former Sydney Water chief executive Kerry Schott as its new chair.