Yesterday
LNG players shrug off carbon threat with $15b spend
Australia’s LNG producers are well aware of proposed carbon tariffs but still see a robust outlook for gas underpinning their large new projects.
- Angela Macdonald-Smith
This Month
Fundies on lookout for big block trade
Fund managers were brushing up on block trade candidates after market on Wednesday, in expectation of a post market trade.
- Sarah Thompson, Anthony Macdonald and Tim Boyd
Sheikh Yamani was a mover and shaker behind the 1973 oil embargo
Sheikh Ahmed Zaki Yamani, aka Mr Oil, taught the Arab world how to use oil production and price as weapons in diplomacy against Israel and the West.
Viva plots turnaround for ‘black hole’ of refining
CEO Scott Wyatt says the loss-making Geelong oil refinery has a chance of turning around its heavy 2020 loss thanks to the government’s fuel security measures.
- Angela Macdonald-Smith
Commodities in most bullish environment in a decade
Fund managers say it’s the most bullish environment for commodities they’ve seen in more than a decade, with base metals surging to multi-year highs and oil making one of its strongest starts to any year on record.
- William McInnes
Lesson learnt: Oil Search won’t rely on upturn
The Papua New Guinean oil and gas producer is lining up for growth again, but with a good dose of caution this time around.
- Angela Macdonald-Smith
Worley’s first-half net profits tumble 81pc
The global engineering group’s profits were hit by delayed oil and gas projects and a rising Australian dollar but a new US carbon capture project is expected to be replicated, CEO Chris Ashton says.
- Jenny Wiggins
Bigger subsidy needed to save Ampol refinery
Decisions by BP and ExxonMobil to close their Australian refineries makes it more difficult to keep the Lytton refinery open, says Ampol CEO Matt Halliday.
- Angela Macdonald-Smith
Oil Search presses ahead on $US3b Alaskan oil project
The Papua New Guinean oil producer still needs to bring in another partner before it will proceed with its Pikka oil project on Alaska’s North Slope.
- Updated
- Angela Macdonald-Smith
Ampol hit by refining loss
Benchmark profit for the petrol and diesel supplier was slashed during the pandemic as losses mounted at the Lytton refinery in Brisbane.
- Angela Macdonald-Smith
Woodside sharpens sell-down push as rating pressured
The clock is ticking as Woodside focuses on a sell-down of its $5.5 billion oil project in Senegal and considers a pullback in the dividend to preserve its credit rating.
- Angela Macdonald-Smith
Texas bans oil exports, rations water as big freeze continues
The cold snap, which has killed at least 21 people and knocked out power to more than 4 million in Texas, is not expected to let up until this weekend.
- Devika Krishna Kumar and Gary McWilliams
Cold snap pushes crude to 13-month high
A freeze in Texas has rattled the global oil market and cut US output by more than a third, sending crude prices to their highest level in 13 months.
- William McInnes
Woodside holds firm on Scarborough after $US4b loss
Woodside Petroleum is firmly pursuing a final go-ahead later this year on the $16 billion Scarborough gas project in Western Australia despite slumping to a $US4.03 billion ($5.2 billion) net loss for 2020.
- Angela Macdonald-Smith
Trouble for Woodside as Lukoil bids for FAR
Russian oil giant Lukoil is trying once more to elbow its way into Woodside’s large Sangomar oil venture in Senegal, despite the Australian player’s opposition.
- Angela Macdonald-Smith
Embattled gas producers hold firm on prices
Beach Energy and Cooper Energy, hit by lower oil prices in the December half, have outlined growth projects that assume east coast gas prices will remain in the $8-$10 a gigajoule range.
- Angela Macdonald-Smith and Elouise Fowler
Beach profit dives 54pc on oil price drop
The company has downgraded its guidance on output and earnings but has reaffirmed its five-year growth targets as confidence builds around its WA gas project.
- Angela Macdonald-Smith
Santos write-downs to deepen expected loss
Write-downs for 2020 have increased to $US895 million before tax after the latest impairments, mostly on reduced reserves at a WA gas field.
- Angela Macdonald-Smith
CCS, offsets to be key as Shell goes for zero
Shell’s blueprint for reaching net zero emissions, with its focus on carbon capture and offsets, looks set to further ramp up climate pressures for Australian gas producers.
- Angela Macdonald-Smith
IEA says oil market recovery still fragile as virus persists
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity.
- Grant Smith
