LIQUEFIED NATURAL GAS INDUSTRY – AUSTRALIA

Santos seeks bigger chunk of LNG pie

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 18-May-15

Australian-listed Santos may acquire a stake in Papua New Guinea’s P’nyang gas field, which would be used to expand the PNG LNG venture in which the group is already a partner. A final investment decision on the proposed expansion will be made in 2017. Meanwhile, Santos and its partners in a Malaysian oil project have had encouraging results from a drilling program. Santo’s Caldita-Barossa venture is also in the running to supply gas to the Darwin LNG plant if a proposed expansion of the facility proceeds.

CORPORATES
SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, EXXONMOBIL CORPORATION, JX NIPPON OIL AND ENERGY CORPORATION, CONOCOPHILLIPS, SK GROUP, WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, CHEVRON CORPORATION, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, HESS CORPORATION, AWE LIMITED – ASX AWE

Borda exit from Santos surprises market

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

Woodside fuelled up for more acquisitions

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 & 26 : 19-Feb-15

Oil and gas producer Woodside Petroleum has posted a net profit of $US2.41bn for the 2014 calendar year, an increase of 38 per cent. The group’s underlying net profit of $US2.42bn was 42 per cent higher than previously, while revenue rose by 25 per cent to $US7.44bn. Shareholders will receive a final dividend of $US1.44 per share. CEO Peter Coleman says Woodside has sufficient capital to consider further large acquisitions should appropriate opportunities arise

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE ENERGY LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CHEVRON CORPORATION, BERNSTEIN RESEARCH

Woodside flags cuts, write-downs

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 20 : 16-Jan-15

Woodside Petroleum has reported total sales of $US1.76bn for the final three months of 2014, while sales for the full year were 22.5 per cent higher at $US7.08bn. The oil and gas producer has warned of the potential for asset write-downs of between $US250m and $US400m as a result of the decline in the crude oil price. Woodside also expects to scale back its capital expenditure in 2015. Its shares closed 1.35 per cent lower at $A35.06 on 15 January

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, UBS HOLDINGS PTY LTD, MITSUI AND COMPANY LIMITED, MITSUBISHI CORPORATION, PLATYPUS ASSET MANAGEMENT PTY LTD, PAVILION ENERGY PTE LTD, TEMASEK HOLDINGS (PTE) LTD, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, JP MORGAN AUSTRALIA LIMITED, APACHE CORPORATION

Santos slumps after rating downgrade

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 10-Dec-14

Investors have responded bearishly to a move by Standard & Poor’s to reduce the credit rating of Australian-listed Santos from "BBB+" to "BBB". Santos shares closed $A0.60 lower at $A7.70 on 9 December 2014, after reaching an intra-day low of $A7.46. The oil and gas producer has indicated that the ratings downgrade will have no impact on its finances, and notes that it has a healthy balance sheet

CORPORATES
SANTOS LIMITED – ASX STO, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, JP MORGAN AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Energy exports at risk as oil prices slump

roymorgansocial Leave a comment

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

LNG exports to quadruple in five years

roymorgansocial Leave a comment

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

Sacked man loses $42m claim

roymorgansocial Leave a comment

Original article by Tim Clarke
The West Australian – Page: 9 : 29-Sep-14

The Federal Court of Australia has ruled in favour of Woodside Petroleum in a unfair dismissal action by a former employee. Hassan Zaghloul sought more than $A42m in damages after claiming that he had been bullied and harassed during his tenure as the LNG group’s principal structural engineer. He has also accused lawyers involved in the case of professional misconduct

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, FEDERAL COURT OF AUSTRALIA, UNIVERSITY OF WESTERN AUSTRALIA

India burning brighter for LNG exporters

roymorgansocial Leave a comment

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

India may emerge as a significant importer of LNG from Australia. Woodside Petroleum forecasts that demand for LNG in in India will rise to as much as 50 million tonnes by 2024. Peter Cleary, the head of LNG at Santos, expects India to import early spot cargoes from the GLNG project in Queensland. Analysts from Tri-Zen International say that India has insufficient infrastructure for large LNG imports

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CREDIT SUISSE (AUSTRALIA) LIMITED, ADANI ENTERPRISES LIMITED, GUJARAT STATE PETROLEUM CORPORATION, PETRONET INDIA LIMITED, EXXONMOBIL CORPORATION, SANTOS LIMITED – ASX STO