B07 Oil and Gas Extraction

Gas sector buoys economy

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 9 : 13-Nov-14

PricewaterhouseCoopers forecasts that Australia’s oil and gas industry will be worth $A67bn to the national economy by 2029-30, compared with just $A32bn in the 2012-13 financial year. The firm’s report was prepared on behalf of the Australian Petroleum Production & Exploration Association (APPEA), and notes that the sector contributes more value to the economy than any other industry. APPEA CEO David Byers says the report demonstrates that gas supplies should not be reserved for domestic use

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, ENERGY SUPPLY ASSOCIATION OF AUSTRALIA LIMITED, BUSINESS COUNCIL OF AUSTRALIA

Shareholders target Voelte in Nexus bid

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Original article by Matt Chambers, Sharri Markson, Leo Shanahan
The Australian – Page: 23 : 12-Nov-14

Conglomerate Seven Group Holdings plans to take over Nexus Energy for $A180m, following the latter’s collapse after its board rejected an offer by Seven worth just $A0.02 a share. The fact that Seven CEO Don Voelte also had the role of chair at the gas group has sparked complaints by Nexus investors to the Australian Securities & Investments Commission. Legal action is being launched by stockholders such as Bechtel CEO Andrew Greig, ­Liberal Party president Richard Alston, Karoon Gas executive chair Bob Hosking and Michael Fowler, another ex-Nexus chair

CORPORATES
NEXUS ENERGY LIMITED – ASX NXS, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, KAROON GAS AUSTRALIA LIMITED – ASX KAR, BECHTEL PTY LTD, LIBERAL PARTY OF AUSTRALIA

Woodside mulls regasification to meet domestic obligation

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Original article by Paul Garvey
The Australian – Page: 19 : 10-Nov-14

The Western Australian (WA) Government currently imposes a domestic gas reservation policy on producers such as Woodside Petroleum and its joint venturers in the Browse floating LNG development. The companies are set to continue their lobbying effort against this, but are also preparing for the maintenance of the policy by considering a regasification plant in the South West region of WA. This would help them meet the mandated target of 15% of LNG output to be available to local users

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BP PLC, PETROCHINA COMPANY LIMITED, MITSUBISHI CORPORATION, MITSUI AND COMPANY LIMITED, AGSO-GEOSCIENCE AUSTRALIA

LNG exports to quadruple in five years

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Original article by Scott Parker
The Australian Financial Review – Page: 31 : 22-Oct-14

The Commonwealth Bank’s Lachlan Shaw is upbeat about the outlook for Australia’s LNG industry, forecasting strong growth in exports over the next five years. However, he warns that high capital costs in Australia may jeopardise future LNG projects, while the price of LNG being linked to the crude oil price presents another headwind for the industry. The oil price recently reached a low of $US82.60 per barrel

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WOODSIDE PETROLEUM LIMITED – ASX WPL, ORIGIN ENERGY LIMITED – ASX ORG, EXXONMOBIL CORPORATION, FACTS GLOBAL ENERGY GROUP OF COMPANIES, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES

Householders’ bills tipped to soar as gas exports begin

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Original article by Esther Han
The Sydney Morning Herald – Page: 3 : 20-Oct-14

Tony Wood, director of the energy program at the Grattan Institute, says households along the eastern seaboard will pay as much as $A435 per annum more for gas, once feedstock is diverted to the emerging LNG exporting industry in Queensland. Wholesale prices are tipped to grow 100% to $A9 a gigajoule. Australian Council of Social Service CEO Cassandra Goldie warns that the increases will affect those users the most who have the lowest incomes. However Wood argues that job creation and other benefits mean governments should not intervene, and should instead compensate low-wage earners

CORPORATES
GRATTAN INSTITUTE, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, BIS SHRAPNEL PTY LTD, ENERGY AND WATER OMBUDSMAN (NSW) LIMITED

MUA strike threatens Gorgon gas project

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Original article by Andrew Burrell
The Australian – Page: 22 : 14-Oct-14

Talks on a new enterprise bargaining agreement between Mermaid Marine and the Maritime Union of Australia (MUA) have become deadlocked, triggering a strike. The MUA says members will take protected industrial action for five days from 15 October 2014. A 10-day strike had been cancelled by the MUA in July, when it appeared that progress could be made. Among the operations that could be affected are the Gorgon LNG project and iron ore shipments by BHP Billiton, Rio Tinto and Fortescue Metals Group

CORPORATES
MERMAID MARINE AUSTRALIA LIMITED – ASX MRM, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MARITIME UNION OF AUSTRALIA, GORGON JOINT VENTURE, CHEVRON AUSTRALIA PTY LTD, CHEVRON CORPORATION, MOBIL AUSTRALIA RESOURCES COMPANY PTY LTD, EXXONMOBIL CORPORATION, SHELL DEVELOPMENT (AUSTRALIA) PTY LTD, ROYAL DUTCH SHELL PLC, ASX LIMITED – ASX ASX

Glencore tilts at Rio expansion

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 11 : 8-Oct-14

Takeover speculation prompted a rally in the Australian-listed shares of Rio Tinto on 7 October 2014, with the stock rising 4.3 per cent to $A60.07. The resources group rebuffed a takeover approach from Glencore in August, and has indicated that it is not holding any merger talks with the commodities trader and miner. However, Glencore CEO Ivan Glasenberg is believed to be keen to pursue a merger with Rio Tinto

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, XSTRATA AG, BHP BILLITON LIMITED – ASX BHP, LONDON STOCK EXCHANGE, UBS HOLDINGS PTY LTD, ALUMINIUM CORPORATION OF CHINA LIMITED

ABC in apology over gaffe on gas

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Original article by Sid Maher
The Australian – Page: 19 : 7-Oct-14

The ABC recently repeated a claim made by the Australian Workers’ Union on a website, that all other gas-producing countries had a domestic gas supply reservation policy. This was disputed by the Australian Petroleum Production & Exploration Association lobby group, and CEO David Byers has now accepted a formal apology for the incorrect statement from the public broadcaster

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, RADIO NATIONAL

Chief scientist may sue Jones over coal seam gas remarks

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Original article by Nicole Hasham
The Sydney Morning Herald – Page: 9 : 6-Oct-14

Sydney talk show radio host Alan Jones, a long-standing critic of the coal seam gas (CSG) sector, has accused New South Wales (NSW) Chief Scientist Mary O’Kane of bias toward the industry. She had issued a report on 30 September 2014 that found any risk posed by CSG drilling activity was manageable, and she is now considering a defamation law suit against Jones. He has also been attacked by Tom Fontaine, chair of the Magnum Gas & Power company that has had its joint project with Apex Energy rejected by the NSW Planning Assessment Commission

CORPORATES
MAGNUM GAS AND POWER LIMITED – ASX MPE, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, APEX ENERGY NL, NEW SOUTH WALES. OFFICE OF THE CHIEF SCIENTIST AND ENGINEER, NEW SOUTH WALES. PLANNING ASSESSMENT COMMISSION, 2GB, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NATURE CONSERVATION COUNCIL OF NSW INCORPORATED, LIBERAL PARTY OF NEW SOUTH WALES

Ai Group seeks answers on industry tax

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 30-Sep-14

The Australian Industry Group (Ai) wants an examination of the petroleum resource rent tax. Peter Burn, of Ai, said that the group does not support a gas reservation policy, but it is concerned about the effect of rising gas prices on industry. He said that the Federal Government’s tax white paper should investigate whether the petroleum tax was effectively distributing the wealth from natural resources to the community

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, MANUFACTURING AUSTRALIA LIMITED, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED