(Oil Price) – Australia’s government intends to consider using emergency powers to protect domestic natural gas supply in case of a shortfall on its east coast in the third quarter of 2026. The potential consideration of using such powers would be part of the steps the Albanese Government is taking to secure domestic gas supplies for Australian households and industry as the Middle
(BOE Report) – At least three liquefied natural gas (LNG) cargoes loaded in Australia and Canada are heading toward Europe and the Americas instead of their usual destination, Asia, after an Arctic storm curbed exports from the U.S., shiptracking data showed. The diversion of supply away from Asia could tighten supply and support spot LNG prices in the region. While
(World Oil)– EnerMech has won a significant contract to provide subsea pre-commissioning and specialist services for a major offshore gas development in Australia’s East Browse basin. The work will support the second phase of the project’s installation campaign, scheduled between October 2025 and April 2026. The contract scope includes riser and umbilical services such as flooding, top-up, and leak testing
(Oil Price)– Australia’s energy major Woodside has taken over the operatorship of the Bass Strait oil and gas assets that were previously operated by Exxon. The two have a 50:50 partnership in the portfolio, which includes production and processing operations. The change in operatorship will result in synergy savings of over $60 million, Woodside said. The company added it plans to
Nasdaq SYDNEY – Australia plans to unveil a range of financial incentives to drive investment in the local clean energy sector and keep money and talent from being pulled overseas by subsidies in the U.S. and Europe, the Australian Financial Review reported on Friday. Like countries across the developed world, Australia is responding to the massive raft of clean energy
Oil Price Not enough shareholders of Australia’s top energy retailer, Origin Energy, backed on Monday a takeover bid from a Brookfield-led consortium of investors, leading to a collapse of a proposed $11-billion deal. A total of 68.92% of the votes cast by Origin Energy’s shareholders were in favor of the bid, short of the required 75% majority necessary to approve
Oil Price The United States and Australia agreed this weekend on a clean energy manufacturing pact with a focus on the energy transition and emissions reduction. The so-called Climate, Critical Minerals, and Clean Energy Transformation Compact establishes climate and clean energy as a central pillar of the Australia-United States Alliance, the White House said, reporting the signing of the pact
World Oil (Bloomberg) –Germany and Austria came out strongly against the European Union proposal to classify some natural-gas and nuclear projects as sustainable investments, with both countries accusing the bloc of “greenwashing.” In Berlin, the Greens — who joined Germany’s new ruling coalition following September’s election — criticized the regulatory plan as damaging the credibility of the EU green rulebook,
Nasdaq SYDNEY – A Commonwealth Bank CBA.AX investor has sued the lender, demanding to see internal documents on its decisions to finance fossil fuel projects to ensure it has complied with its own environmental framework. Lawyers for retail investor Guy Abrahams, who publicly shamed the country’s largest lender in 2017 over its lack of climate-change risk disclosures, say the bank is not hewing closely
Reuters CANBERRA – Australian Prime Minister Scott Morrison stopped short of endorsing a 2050 target for net zero greenhouse gas emissions ahead of U.S. President Joe Biden’s climate summit this week. In a speech on Monday, he said only that Australia, the highest per capita carbon emitter among the world’s richest nations, will achieve net zero “as quickly as possible
Reuters LONDON – Australia has moved into the three most attractive countries in the world for renewables investment for the first time due to rapid solar photovoltaic (PV) deployment, research showed on Tuesday. In a bi-annual index of the top 40 renewable energy markets worldwide by consultancy EY, the United States held on to top spot, followed by China. Australia
Reuters SYDNEY – Australia’s New South Wales (NSW) state said on Monday it would shift toward renewable energy from coal and aimed to lure A$32 billion ($23.3 billion) of private investment into the sector in the next decade. Australia’s most populous state said it would cut red tape and speed up approvals for businesses to invest in renewable energy projects,
