Minerals Council pushes back over BHP threat

Original article by Matt Chambers
The Australian – Page: 13 & 18 : 21-Dec-17

A Minerals Council of Australia spokesman says it intends to keep lobbying on the issues of climate and energy policy. This is despite BHP Billiton’s threat to cancel its membership if the MCA continues to advocate polices that are contrary to its own. However, BHP’s 50 per cent stake in the Bass Strait gas fields means it has less exposure to rising electricity prices on the east coast than fellow MCA members such as Rio Tinto and Glencore. BHP’s share of Bass Strait gas is equivalent to about 10 per cent of domestic demand for gas on the east coast. In contrast, BHP’s mining operations on the east coast account for around one per cent of National Energy Market demand.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

IEA head warns low oil prices may threaten energy security

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 10-Feb-16

The International Energy Agency’s executive director, Fatih Birol, says investment in oil production is expected to fall by 16 per cent in 2016, following a 20 per cent downturn in 2015. He has warned that some higher-cost projects may be delayed or put on hold if the crude oil price remains at current levels. This in turn could increase reliance on oil from the Middle East, where geopolitical tensions could affect global oil supply. Birol also noted that Australia’s LNG projects will benefit global energy security in the long-term.

CORPORATES
INTERNATIONAL ENERGY AGENCY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE