Australia suffers wide losses when central bank keeps rate at 12-year high
The Australian share market continued to decline on Tuesday, after the central bank maintained the key policy rate in a 12-year-high level. This was done in order to maintain a restrictive policy until the core inflation rate is brought under control. By 0352 GMT, the S&P/ASX 200 Index had fallen 0.4% to 8,131.4. The benchmark index was trading at a 0.3% decline ahead of the policy announcement.
Woodside and Tokyo Gas discuss stake in US LNG Project
Tokyo Gas and Woodside Energy are in discussions about a possible stake in the multi-billion dollar Louisiana LNG export project. Two people familiar with these talks confirm this. Woodside, a major Australian oil and natural gas company, closed a deal this month to buy Tellurian Inc., a developer that had put itself up for sale after running out of money while building a U.S.
WiseTech shares soar after the CEO of WiseTech takes on a new role.
Australian shares rose Friday, with mining and technology stocks leading the way. WiseTech surged after its former CEO moved into a consultant role, and Whitehaven Coal soared on higher-than-expected quarter output. As of 2347 GMT, the S&P/ASX 200 rose 0.3% to 8231.3. The benchmark is expected to lose 0.6% per week, the biggest loss since late September.
Document shows that Mexico's Pemex plans to increase its gas and oil reserves under Sheinbaum's presidency.
According to a document that was seen by us on Wednesday, the Mexican state oil company Pemex wants to increase its hydrocarbon reserve and make sure it is repaid during the tenure of newly-elected President Claudia Sheinbaum. The document also shows that Pemex will intensify its deepwater exploration as well as develop new business models in order to attract investors.
Santos' forecasts for 2024 production are at the top of the forecast range, and Pikka oil production could start early
Santos, Australia's second largest oil and gas company, estimated that its production for the full year would be in the upper half of its forecast range and announced on Thursday that its Pikka Project could begin oil production as soon as 2025. The Adelaide-based firm said that its drilling program for Pikka Phase one in Alaska is progressing smoothly and could begin oil production as soon as December 2025.
Financial Times - Oct 16
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. BBC, the British broadcaster, has announced plans for 155 job cuts across its news operations. This is part of a larger cost-cutting plan worth 700 million pounds (915 million dollars).
Woodside Energy Q3 revenue exceeds expectations and will be delisted from LSE
Woodside Energy, an Australian company, reported on Wednesday a sequential increase in revenue for the third quarter and a record-breaking quarterly output. This was boosted by a faster ramp-up at its Sangomar Project and a strong performance across all of their LNG portfolios. The top independent oil producer in the country posted a 21% increase in revenue for the three-month period ended September 30…
Mexican officials reassure investors at bilateral business summit
Mexican officials called for safety and stability of private investment after a summit held with business leaders on Tuesday. Fears about constitutional reforms were the main topic. According to Economy Minister Marcelo Ebrard, Amazon, Mexico Pacific and Woodside Energy will make significant investments into the country over the next 12 months.
Ampol, Australia's top stock loser, reaches record highs on the benchmark
The Australian share market reached a new record on Tuesday. This was due to the broad gains made by heavyweight miners as iron ore prices rose. However, Ampol, Australia's largest fuel retailer, suffered the biggest losses after a lower production figure. S&P/ASX 200 Index rose 0.6% by 2329 GMT to 8,305.5 after reaching a record-high of 8,307.2. The benchmark index rose 0.5% Monday.
Senegal announces a 25-year plan for economic and social development
Senegal’s government released a 25-year plan of development on Monday. It said that the plan would lay the groundwork for economic sovereignty by focusing on competitiveness, resource management sustainability and good governance. The agenda was launched in March, seven months after the West African president Bassirou Diomaye Faye won a landslide victory at elections on the promise of improving livelihoods.
East Timor spoke with Sinopec and other Chinese companies about stalled multibillion dollar gas project, President says
After a disagreement with Australia about the future of the joint field, East Timor's President Jose Ramos-Horta announced on Wednesday that it had spoken with Chinese companies, including the state-owned Sinopec, to develop the Greater Sunrise gasfield. The field's revenues, estimated at $65billion in 2018, are vital to the economy. However…
East Timor spoke with Sinopec and other Chinese companies about a stalled multibillion dollar gas project, President says
After a disagreement with Australia about the future of the joint field, East Timor's President Jose Ramos-Horta announced on Wednesday that it had spoken with Chinese companies, including the state-owned Sinopec, to develop the Greater Sunrise gasfield. The field's revenues, estimated at $65billion in 2018, are vital to the economy. However…
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor of the proposed acquisition by Australian energy producer. Woodside has announced that it is renaming the Driftwood Louisiana LNG opportunity to Woodside Louisiana LNG.
Woodside Energy CEO: We are in discussions with potential partners about Driftwood LNG
Woodside Energy CEO Meg O'Neill announced on Monday that the company is in talks with U.S. onshore gas producers, pipelines and companies who share its views and outlook on liquefied gas for its Driftwood LNG Project. O'Neill, speaking at an investor's conference in New York said that U.S. producers of gas were frustrated by the lower…
Senegal president announces election of parliament on November 17
Senegal's President Bassirou Diomaye Faye dissolved Thursday the national assembly led by the opposition, paving the way for legislative elections to be held early on November 17. Faye, the new leader of the country, stated in an evening speech that it was difficult to work with the Assembly after the members refused to begin discussions on the Budget Law and rejected attempts to dissolve wasteful institutions.
Australian shares rise as energy stocks and banks shine
Investors digested and assessed the impact of the latest U.S. Inflation print on global interest rate outlooks. As of 1236 GMT, the S&P/ASX 200 was up 0.6% to 8,035.1 points. The benchmark closed Wednesday's session 0.3% lower. Market watchers have ruled out a Federal Reserve rate cut of 50 basis points (bp) next week and instead bet on a reduction of 25 bp. Most sub-indices in Sydney traded in positive territory.
Methanex acquires OCI's methanol division in a $2.05 billion deal
Methanex, a Canadian methanol manufacturer, announced on Sunday that it would acquire the methanol division of Dutch green fuel maker OCI Global for $2.05 billion. The deal involves $1.15 billion cash and the issuance 9.9 million Methanex shares valued at $450 millions, according to the methanol manufacturer. It also includes $450 in debts and leases.
Woodside raises $ 2 billion in bonds amid growing investor concerns over capital expenditure plans
Woodside Energy, an Australian oil and gas company, raised $2 billion on the U.S. Bond Market, the company announced on Friday. This news caused its shares to fall on concerns about the company's capital spending plans. The bond issue consisted of two tranches: $1.25 billion in 10-year bonds at a coupon rate of 5.1%, and $750 millions through 30-year bonds at a 5.7% coupon.
Santos' new CFO shines spotlight on succession in top jobs
The Australian energy giant Santos announced on Thursday that Sherry Duhe, a former Woodside and Newcrest executive, has been appointed as its chief financial officer. This announcement comes amid heightened market speculation regarding a possible change in the top position. Duhe will replace Anthea McKinnell as chief financial officers. McKinnell leaves Santos after more than half a century.
Woodside Energy's first-half profits drop on lower oil prices
Woodside Energy, based in Australia, reported a 14 percent drop in first-half profits on Tuesday due to price volatility and lower realized oil prices. Oil prices have been choppy due to supply chain disruptions caused by tensions in the Middle East, and China's economic recovery is being hampered by weak domestic consumption. Woodside's…
