ENERGY INDUSTRIES – AUSTRALIA

Energy exports at risk as oil prices slump

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 27 : 26-Nov-14

The price of Brent crude oil is trading at $US0.7945 per barrel, having fallen to $US77.92 in mid-November 2014. David Hewitt of Credit Suisse notes that a number of market watchers are particularly bearish about the outlook for the crude oil price, with some warning that it could fall below $US60. He also says Australian-listed LNG producers would be adversely affected by continued weakness in the crude oil price, as the price of LNG is linked to the crude oil price

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, INTERNATIONAL MONETARY FUND, RBC CAPITAL MARKETS, REUTERS HOLDINGS PLC, LUPUS ALPHA COMMODITY INVESTMENT FUND, BLOOMBERG LP, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Nexus investors lash ASIC inaction

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Original article by Leo Shanahan
The Australian – Page: 23 : 20-Nov-14

Piper Alderman lawyer Amanda Banton, who represents investors in Nexus Energy opposed to its acquisition by Seven Group Holdings, has criticised the Australian Securities & Investments Commission. The watchdog has taken no action after Seven made a low offer of $A0.02 and then moved to buy the collapsed Nexus following the rejection by stockholders of the original bid. A major issue is the dual role of Don Voelte as Seven CEO and Nexus chair

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEXUS ENERGY LIMITED – ASX NXS, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, PIPER ALDERMAN, AZURE CAPITAL PTY LTD, LIBERAL PARTY OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES

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

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

Cheap gas flows in as prices slump to record lows

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Original article by Matt Chambers
The Australian – Page: 15 : 1-Sep-14

Origin Energy, Santos and others are building three major LNG processing plants for the export market, in the Gladstone region of Queensland. The projects are forecast to cause higher domestic gas prices as the supply is diverted offshore. However in late August 2014, gas prices for local users have actually declined. In Queensland they have fallen to as little as $A1 per gigajoule, compared with the usual range of $A3 to $A4. From 2015 on they are estimated to reach up to $A10

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, AGL ENERGY LIMITED – ASX AGK, AUSTRALIAN ENERGY REGULATOR, CREDIT SUISSE (AUSTRALIA) LIMITED, QUEENSLAND CURTIS LNG PTY LTD, AUSTRALIA PACIFIC LNG LIMITED, GLADSTONE LNG PTY LTD

Shell’s man cans corporate welfare

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Original article by Andrew Burrell
The Australian – Page: 18 : 21-Aug-14

The Committee for Economic Development of Australia on 20 August 2014 heard from Andrew Smith, the chair of Shell Australia. He argued that the industrial relations system needs to be overhauled in order to ensure further productivity gains, which in turn will improve living standards. Smith honoured the victims of previous reforms that had from the 1970s on dismantled the trade tariffs protecting many industries, and also said businesses must not rely on government aid

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED,ROYAL DUTCH SHELL PLC,WOODSIDE PETROLEUM LIMITED – ASX WPL,COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Woodside on M&A chase

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 21-Aug-14

Woodside Petroleum has posted a 2014 interim underlying net profit of $US1.136bn, which is 33 per cent higher than previously. Revenue was 24 per cent higher at $US3.55bn. CEO Peter Coleman says the group plans to spend up to $A5bn on large acquisitions, which could potentially include Apache’s 13 per cent stake in the Wheatstone LNG project. Andrew Williams of RBC Capital Markets believes that Woodside may also consider Apache’s Kitimat LNG project in Canada

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL,APACHE ENERGY LIMITED,RBC CAPITAL MARKETS,BERNSTEIN RESEARCH,CHEVRON CORPORATION

AGL granted CSG fracking licence

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Original article by Geoff Winestock
The Australian Financial Review – Page: 9 : 7-Aug-14

The New South Wales (NSW) Government in 2012 ended a ban on hydraulic fracturing for coal seam gas wells that had been imposed in 2011, provided that companies use new and safer technology. The first such approval has now been issued by NSW Energy Minister Anthony Roberts to AGL Energy, which must also however relinquish the licence it held for a quarter of the previous exploration area

CORPORATES
AGL ENERGY LIMITED – ASX AGK, NEW SOUTH WALES. DEPT OF ENERGY, UTILITIES AND SUSTAINABILITY, METGASCO LIMITED – ASX MEL, THE GREENS NSW INCORPORATED