australia Archives - Page 5 of 5

Western Australia’s Government will Sequester 15% of Production from Woodside LNG JV

June 25, 2015

Industry groups say the reservation policy adds unnecessary burdens on the project Western Australia’s gas reservation policy has been applied to the Woodside Energy-led (ticker: WPL) Browse floating liquefied natural gas (FLNG) project, . The policy was started in 2006, and requires that petroleum projects reserve up to 15% of their production for domestic use, according to Practical Law. The

Russia May Be Testing U.S. Gas Nerve with Europe Push: Citi

LNG Could Contribute $55 Billion to Australia’s GDP

May 18, 2015

New research shows the LNG industry could grow Australia’s GDP by almost 3% from 2013 levels by 2020 A new report titled “Ready or Not? Creating a world-leading oil and gas industry in Australia,” found that the liquefied natural gas (LNG) industry in Australia could become the world’s largest and most technologically advanced, contributing more than AUD$55 billion (USD$44.03 billion)

Chevron Moves Forward on Divesture Goal, Exits Australia Shareholding Venture

March 27, 2015

Chevron Corporation (ticker: CVX), the world’s third largest E&P by market capitalization, is selling its 50% shareholding in Caltex Australia Limited. The deal is reportedly worth about US$3.6 billion, according to the Sydney Morning Times Herald, and is the biggest block trade in Australia’s history. The deal was solely underwritten by Goldman Sachs and is expected to “be sold to

Australia and India Look to Increase Cooperation in LNG

January 12, 2015

A memorandum of understanding signed between Woodside and Adani is set to strengthen ties in the LNG sector Australian energy major Woodside Petroleum Ltd (ticker: WPL) and India’s infrastructure conglomerate Adani Enterprises Ltd (ticker: ADANIENT) signed a memorandum of understanding (MOU) last week for cooperation in exploring opportunities in India’s oil and gas sector. The MOU, signed on January 10,

The State of LNG in Australia

December 23, 2014

Some LNG projects in Australia in trouble Planned Australian liquefied natural gas (LNG) export projects are at risk as sinking energy prices make investments unviable, reports Reuters. A nearly 50% slump in Asian LNG prices this year has pressured any project without a Final Investment Decision (FID). Last week, Woodside Petroleum Ltd. (ticker: WPL) delayed the FID for its $40

Magellan Petroleum Centralizes Assets, Sells Australian Onshore Plays for $35 Million

February 18, 2014

Magellan Petroleum Corporation (ticker: MPET) is an independent oil and gas exploration and production company with assets in the United States, Australia, and the United Kingdom. The development of a CO2-enhanced oil recovery program at its Poplar Dome assets in eastern Montana is its primary focus. Magellan’s U.K. properties are onshore and include the Weald and Wessex Basins prospective for unconventional

Magellan Petroleum Aims to Capitalize on Australia’s Growing Natural Gas Market

January 27, 2014

Magellan Petroleum Corporation (ticker: MPET) is an independent oil and gas exploration and production company with assets in the United States, Australia, and the United Kingdom. The development of a CO2-enhanced oil recovery program at its Poplar Dome assets in eastern Montana is its primary focus. In Australia, Magellan operates two onshore gas fields in the Amadeus Basin in the Northern

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