Santos takes $US1.5b hit on GLNG
Santos has taken a $US1.5 billion hit on the value of its gas export project in Queensland, which has been undermined by the collapse in oil prices.
Angela Macdonald-Smith writes on energy specialising in gas, oil, electricity. Based in our Sydney newsroom, Angela is chief of staff for resources and energy.
Santos has taken a $US1.5 billion hit on the value of its gas export project in Queensland, which has been undermined by the collapse in oil prices.
Record first-half output at Santos thanks to the start-up of the second train at its Qld LNG project was not enough to offset the impact of lower commodity prices.
ExxonMobil has outbid Oil Search for PNG gas explorer InterOil, leaving the ASX-listed player to decide whether it wants to lift its offer.
Woodside Petroleum has agreed to pay about $US430 million ($565.5 million) to serve its way into a potential $US5 billion oil project off the coast of Senegal.
A new mood of openness to co-operation and different ways of working were plainly evident at the annual APPEA oil and gas conference.
Gas pipeline developer says it can still fill a new $800 million pipeline from the NT to Queensland, despite the threat of a Labor moratorium on fracking.
Oil Search CEO Peter Botten says he is "confident" of shareholder support for his $US2.2 billion-plus takeover deal for InterOil.
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.
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.
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.
Search pagination
Save articles for later.
Subscribe for unlimited access to news. Login to save articles.
Return to the homepage by clicking on the site logo.