ENERGY INDUSTRIES – AUSTRALIA

Retailers eye battery ‘revolution’

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 3-Jun-15

Battery storage technology is widely tipped to be the "next big thing" for Australian households. A number of energy groups are banking on future demand for battery storage, with AGL Energy entering the market in May 2015. Red Energy, Ergon Energy and ActewAGL hope to begin selling Panasonic’s new home battery system later in 2015, after they undertake a trial of the technology. Demand for battery storage solutions is expected to be particularly high among households with solar power.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, RED ENERGY PTY LTD, SNOWY HYDRO LIMITED, ERGON ENERGY CORPORATION LIMITED, ACTEWAGL, PANASONIC AUSTRALIA PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, TESLA MOTORS INCORPORATED, ENPHASE ENERGY, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIAN RENEWABLE ENERGY AGENCY

AGL Energy shares hit 8-year high

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 27-May-15

AGL Energy has revealed details of its "strategic road map", which will include cost reductions and asset sales. AGL plans to divest its 50 per cent stake in the 420-megawatt Macarthur wind farm in Victoria, which is expected to fetch about $A500m. Some analysts believe that AGL will also sell its upstream gas business, while a decision on the Gloucester coal seam gas project will be made later in 2015. AGL shares closed 6.3 per cent higher at $A16.45 on 26 May.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, MACQUARIE GENERATION, MORGAN STANLEY AUSTRALIA LIMITED, AES CORPORATION, MACQUARIE WEALTH MANAGEMENT

‘Leaner’ Woodside targets acquisitions

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 18 : 22-May-15

Woodside Petroleum is expected to decide whether to proceed with the Greater Enfield oil project in 2016. The group will commence engineering and design work on the Western Australian project ahead of schedule, in order to secure lower costs for oil rigs. CEO Peter Coleman has also flagged acquisitions, including oil projects and LNG receiving terminals in Asia. Woodside is also seeking to reduce costs and improve productivity.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE CORPORATION, RBC CAPITAL MARKETS, CHEVRON CORPORATION, WOOD MACKENZIE, MITSUI AND COMPANY LIMITED

LNG barge resurfaces

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 20-May-15

Santos and Engie dropped plans to use floating LNG technology for the Bonaparte gas project in mid-2015, as it was deemed to be unviable. However, the two groups may revisit the proposal by placing an FLNG plant on a barge just off the coast of the Northern Territory. It is estimated that this would reduce the cost of using FLNG technology from $US4bn to around $US2bn. It would also cut the Bonaparte project’s annual production from 2.6 million tonnes of LNG to two million tonnes.

CORPORATES
SANTOS LIMITED – ASX STO, ENGIE SA, CITIGROUP PTY LTD

AusNet full-year profit dives 87pc on hefty tax charges

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 15-May-15

Australian-listed AusNet Services has posted a 2014-15 after-tax net profit of $A22.6m, which is 87 per cent lower than previously. The result was marred by a payment to the Australian Taxation Office to resolve a tax dispute. Revenue of $A1.83bn rose by 1.9 per cent and EBITDA was 2.9 per cent higher at $A1.05bn. Investors will receive a final distribution of $A0.418 per security.

CORPORATES
AUSNET SERVICES HOLDINGS PTY LTD – ASX ANV, AUSTRALIAN TAXATION OFFICE, CHINA STATE GRID, SINGAPORE POWER LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED

Woodside shuts Pluto as rig comes adrift

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 17-Mar-15

Woodside Petroleum has stopped production at its Pluto LNG field in Western Australia. On 16 March 2015, a cyclone caused a drilling rig to be torn from its moorings. As the rig drifted 5.5 km towards the Pluto field, a shutdown was ordered to protect the plant from damage. It could take up to 30 days to repair the rig

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CHEVRON CORPORATION, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY

Chevron plans first Gorgon LNG shipment

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 25 : 12-Mar-15

Chevron’s Jay Johnson has indicated that production at the Gorgon LNG project in Western Australia will commence in the September 2015 quarter. Exports are slated to begin by the end of 2015. Johnson adds that the sharp downturn in the crude oil price will not unduly affect the profitability of the $US54bn ($A70.5bn) Gorgon project, noting that it will operate for at least four decades

CORPORATES
CHEVRON CORPORATION, EXXONMOBIL CORPORATION, ROYAL DUTCH SHELL PLC, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY

‘Zero-down’ finance heats up solar rivalry

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 18 : 6-Mar-15

AGL and Origin Energy are expanding their solar energy divisions. AGL is launching an offer of a solar panel installed for free, with a fixed monthly fee payable for a minimum amount of solar power. The company says "power purchase agreements" are very popular in overseas markets. Origin Energy is already running a similar program in Adelaide

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, SUNGEVITY AUSTRALIA PTY LTD, SUNPOWER CORPORATION

Borda exit from Santos surprises market

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Original article by Angela Macdonald-Smith, Joe Aston
The Australian Financial Review – Page: 15 : 4-Mar-15

Santos chairman Ken Borda will step down at the oil and gas producer’s annual meeting in April 2015. Borda succeeded Peter Coates as chairman in May 2013, and the latter will take up the role again. Santos has downplayed speculation that there have been tensions between Borda and CEO David Knox. Nik Burns of UBS says investors would have preferred Borda to remain in the role for another year to oversee the group’s investment in the Gladstone LNG project

CORPORATES
SANTOS LIMITED – ASX STO, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG, GLENCORE PLC

Oil Search prospects defy oil price collapse

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 25-Feb-15

Australian-listed Oil Search has posted a 2014 net profit of $US353.2m ($A454.5m), which is 72 per cent higher than previously. The oil and gas group’s full-year accounts include a write-down of nearly $US130m. Shareholders will receive a final dividend of $US0.08 per share, plus a special dividend of $US0.04 per share. Oil Search shares closed $A0.01 higher at $A8.29 on 24 February 2015

CORPORATES
OIL SEARCH LIMITED – ASX OSH, INTEROIL CORPORATION, TOTAL SA, BERNSTEIN RESEARCH, EXXONMOBIL CORPORATION