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Tag Archives: australia

Damage to Great Barrier Reef costs ship owner $30 million

Great Barrier Reef, Australia

CANBERRA, Australia (AP) — The Australian government reached a 39.3 million Australian dollar ($29.6 million) settlement with the owners of a Chinese coal carrier to pay for environmental damage caused when the ship ran aground on the Great Barrier Reef six years ago, the environment minister said Monday. The government had sued Shenzhen Energy Transport for at least AU$120 million ...

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Australian prime minister announces greener policies

Australian prime minister announces greener policies

CANBERRA, Australia (AP) — Australia’s prime minister on Wednesday distanced himself from the man he replaced by announcing a new fund to promote clean energy innovation as the country heads toward a likely early election in July. The announcement by Prime Minister Malcolm Turnbull of the 1 billion Australian dollar ($760 million) Clean Energy Innovation Fund comes after his predecessor ...

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Houston’s FMC Technologies signs $180 million deal

Houston's FMC Technologies signs $180 million deal

Houston-based FMC Technologies signed an agreement with Woodside for the design, manufacture and supply of subsea production systems for the Greater Western Flank Phase 2 Project as part of the North West Shelf Project in Western Australia. The $180 million contract includes subsea production trees, wellheads, manifolds, subsea and topside controls and flowline connection systems. According to a press release, ...

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Australia watchdog clears Shell’s $70B bid for BG Group

MELBOURNE – Royal Dutch Shell cleared a major hurdle to its $70 billion takeover of BG Group on Thursday, winning a green light from Australia’s competition watchdog, which said the deal would not change the dynamics of the domestic market. The acquisition will make Shell the world’s top liquefied natural gas (LNG) trader, although it still needs approval from China ...

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Australia flags concerns on $35 bln Halliburton bid for Baker Hughes

MELBOURNE – Australia’s antitrust regulator raised concerns on Friday about Halliburton Co’s proposed $35 billion buyout of rival Baker Hughes Inc , in another setback for a deal that has already hit competition snarls in the United States. Delaying its final ruling for a third time, the Australian Competition and Consumer Commision (ACCC) said joining the world’s No. 2 and ...

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Global LNG supply may not increase as much as planned

JEDDAH — Global supply of liquefied natural gas (LNG) is set to increase significantly from 245m tons per annum (mtpa) in 2014 to 297mtpa in 2017, according to a report from the QNB Group. Three major projects have recently been completed; over 100mtpa of LNG projects are currently under construction; and 600mtpa of projects are under consideration. However, the viability ...

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Apache CEO announces resignation effective immediately

President and chief executive officer of Apache Corporation Steven Farris announced his retirement effective January 20, 2015.  The abrupt announcement was also an opportunity for Farris to name John Christmann, chief operating officer of North America, as his successor. Mr. Farris joined Apache Corp over 25 years ago in 1988 and has served as its chief executive officer since 2002. ...

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Oilfield ‘man camp’ operator Civeo cuts jobs amid oil slump

WILLISTON, N.D., Dec 29 – Civeo Corp, which provides temporary housing for oilfield workers and miners, slashed its workforce on Monday and said revenue could fall by a third as slumping crude prices force oil producers to cut costs The warning adds jitters to the already-wary global oil market and highlights weakness in Australia’s coal industry, one of Civeo’s biggest ...

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Planned Australian LNG projects threatened by energy price crash

MELBOURNE/SINGAPORE, Dec 22 – Planned Australian liquefied natural gas (LNG) export projects, including the costly Scarborough floating vessel, are at risk as sinking energy prices make investments unviable, analysts said. A nearly 50 percent slump in Asian LNG prices <LNG-AS> this year has pressured any project without a Final Investment Decision (FID). Just last week, Woodside Petroleum Ltd delayed the ...

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