Wall Street Journal, Dec 19,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Woodside and Chevron announced they would streamline their oil and gas operations throughout Western Australia by announcing a stake exchange deal. This move will result in the Australian energy company exiting the $34 Billion Wheatstone LNG Project. The U.S. Department of Justice has filed a lawsuit against the pharmacy chain CVS for filling illegal prescriptions of opioids and billing federal insurance programs.
BHP and Rio Tinto will build a low-carbon iron plant in Western Australia
BHP Australia and Rio Tinto Australia will develop together a pilot plant for producing low-carbon iron using Pilbara ore as part of their efforts to accelerate decarbonisation within the steel industry. The companies announced this in a statement released on Tuesday. The facility will produce molten steel using direct reduced iron technology (DRI), and renewable energy in an electric melting furnace (ESF). It could have a production of up to 40,000 tons per year.
Chevron Australia signss long-term gas supply agreement with Alcoa
The Australian unit of U.S. oil company Chevron said Tuesday that it will supply 130 petajoules (petajoules) of gas over a period of 10 years, starting in 2028, to the aluminium manufacturer Alcoa. Chevron Australia announced in a press release that the gas would be supplied by its 530 terajoules per day Gorgon and Wheatstone plants, and North West Shelf Venture, located in Western Australia. Alcoa, on the other hand, said that it would use this gas to power its refineries for alumina in Western Australia.
Woodside's North West Shelf Project Extension approved by Western Australia
Woodside Energy, Australia's largest oil and gas producer in terms of market value, announced on Thursday that the state of Western Australia had granted Woodside Energy approval to extend the project life of its North West Shelf LNG (liquefied Natural Gas) until 2070. You can also find out more about the decision-making process by clicking here. Woodside announced Thursday that the approval marks the end to a six-year waiting period and restarts the federal approval process for environmental protection, which was halted because of pending appeals.
Woodside Energy closes Pluto LNG due to an 'unplanned' event
A spokesperson for Woodside Energy in Australia said that the shutdown of Pluto LNG was safe and effective on Monday, due to an unexpected event. The cause is still under investigation. The spokesperson stated that operations at the Karratha Gas Plant are normal. Pluto LNG is connected by a pipeline. Woodside, Australia’s largest independent oil and natural gas company, lowered its estimate for full-year production to a range between 189 million and 195 millions barrels of oil equal (boe), down from its previous forecast of 185 to 195 boe.
Shell sales increase in Q3 vs TotalEnergies due to higher Asian LNG prices
LONDON, October 31 - Analysts and traders say that higher production and sales of liquefied gas in Asia helped Shell to outperform TotalEnergies in the third quarter. However, group profits for both companies were affected by a drop in oil refining. Shell's quarterly profit of $6 billion beat forecasts by 12 percent, while TotalEnergies reported a profit of $4.1 billion that was slightly below expectations. Shell and TotalEnergies both reported quarterly profits that were down 70% and 82%, respectively.
Alchemy Resources, Australia, signs lithium partnership agreement with Japan's JOGMEC
Alchemy Resources, an Australian miner, announced on Monday that it had signed a deal with a Japanese government agency for the Japanese agency to fund up to A$6,000,000 ($4,15,000,000) in exploration costs to gain up to 51% ownership of Roe Hills in Western Australia. Alchemy Resources will manage the project for the duration of the partnership. Once the Japanese agency JOGMEC has acquired its vested interests in the tenements the two companies are expected to form a joint-venture, according to a company statement.
Fortescue prepares to meet the strong demand for green Iron in China
Fortescue, which is about to start production of green iron using renewable energy in the next year, said that Australia was well positioned to meet China's strong demand for this product. Christmas Creek, the fourth largest iron ore mine in the world, will produce high-purity green iron using solar power at its Christmas Creek operation in Western Australia. Mark Hutchinson (head of the green energy division) told analysts on a call that the company will begin production in 2025…
Woodside Energy's earnings to drop as investors focus on strategic deals
Woodside Energy is Australia's largest independent gas producer and on course to report a decline in its interim earnings on February 2, with investors focused on the company's deal-making strategies after a failed $52 billion merger between Santos. According to Jarden's Visible Alpha consensus, Woodside, based in Perth, is expected to report a underlying net loss after tax of $1.11billion for the six-month period ended June. This compares to $1.90billion reported a year earlier.
Australian regulator: No decision on Woodside Browse Gas Project yet
Western Australia's environmental regulator announced on Monday that it will release recommendations in 2025 on Woodside Energy’s Browse gas project. A newspaper had reported earlier this week that the large project could be rejected. This $20.5 billion gas project off the coast of Western Australia, the largest in the country but still untapped resource has been on the drawing boards for years. The Sydney Morning Herald reported on Monday that the Western Australian Environmental Protection Authority (EPA) sent preliminary comments to the company…
Woodside to Boost Vincent Crude Quality to Ride VLSFO Demand
Woodside Petroleum will improve the quality of Vincent crude by increasing its flash point from July so that it can be blended into very low sulphur fuel oil (VLSFO) and capture higher premiums, two sources told Reuters.Among crude grades, heavy sweet oil, with higher density and less sulfur, is most suitable for blending into VLSFO that meets the new marine fuel sulfur regulations dubbed IMO 2020. However, crude with a low flash point could…
Woodside Finalizes Gas Deal with Uniper
Oil and gas producer Woodside Petroleum Ltd said on Tuesday it has signed an agreement to supply liquefied natural gas (LNG) to German utility Uniper SE for 13 years starting 2021.Under the agreement, Woodside said it would initially supply up to 0.5 million tonnes per annum (Mtpa) of LNG, which could increase to 1 Mtpa from 2025.However, supply from 2025 remains conditional upon a final investment decision related to the company's Scarborough project off northwestern Australia.Woodside is looking to develop Scarborough to feed a new 5 Mtpa producti
Woodside Sees Reserve Base Tripling
Australia's Woodside Petroleum on Tuesday laid out plans to triple its gas and oil reserve base as it pursues projects worth over $36 billion in Australia, Senegal and Myanmar.Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, it said."We believe we now have a compelling growth story," Woodside Chief Executive…
Santos Posts Record High Output
Australia's number two independent gas producer Santos Ltd on Thursday said third-quarter production and sales volumes peaked to record levels, benefiting from higher output from its Western Australia assets.Revenue of $1.03 billion was the second highest quarterly sales on record, the company said in a statement, while production surged 32% to 19.8 million barrels of oil equivalent (mmboe), beating an estimate of 18.9 mmboe by UBS."Another…
Santos Acquires ConocoPhillips’ Northern Australia Interests
Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa.Matt Fox, ConocoPhillips executive vice president and chief operating officer, said, “While we believe the Darwin LNG backfill project remains among the lower cost of supply options for new global LNG supply, this…
Woodside in LNG Supply Deal with Uniper
Australian LNG producer Woodside signed a heads of agreement (HOA) with Uniper Global Commodities SE for a long-term (13 years) supply deal which would kick off in 2021.The quantity of LNG to be supplied will initially be up to 0.5 million tonnes per annum (Mtpa), increasing to approximately 1 Mtpa from 2025.Woodside CEO Peter Coleman said the HOA, signed at Gastech in Houston, builds on previous LNG supply arrangements between Woodside and Uniper.“This HOA deepens our relationship with Uniper…
ExxonMobil Looks to Sell Australian Assets
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion, however decommissioning costs for the ageing fields could dent the price tag, analysts and bankers said.The Gippsland Basin joint venture, off the state of Victoria, has long been the mainstay oil and gas supplier for southeastern Australia…
Woodside Begins Greater Enfield Project
Australian energy giant Woodside has announced in a press release that it will produce first oil from its Greater Enfield project located offshore Australia this month."We expect first oil from the Greater Enfield reservoirs in August 2019. The delivery of the Greater Enfield Project, on schedule and under budgeted cost, is a further demonstration of our capacity to execute our growth plans, Woodside CEO Peter Coleman said.The Ngujima-Yin floating…
Flowserve Inks Deal for Prelude FLNG
Flowserve Corporation (FLS), a provider of flow control products and services for the global infrastructure markets, has entered into a five-year contract with Shell Australia to provide general maintenance services for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility, which is producing natural gas from an offshore field in Western Australia.A press release from the American multinational corporation said that it will support Prelude from its recently refurbished Quick Response Center (QRC) in Darwin…
Beach Energy to Boost Drilling Spend
Beach Energy, Australia's third-largest independent oil and gas producer, ended the 2019 financial year more cashed up than expected and plans to step up spending on drilling while keeping an eye out for acquisitions, its boss said on Wednesday.Beach paid off debt on its A$1.6 billion ($1.1 billion) acquisition of Lattice Energy within just 18 months, two years earlier than originally planned, with the help of an asset sale and strong cash flow from its expanded portfolio.The company ended the year to June 30 with net cash of A$172 million…
