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PERTH: Australia's largest oil and gas company, Woodside Petroleum, said it is very close to exporting liquefied natural gas (LNG) from its flagship project and the nation's No. 2, Santos, reported higher first-quarter output, sending shares of both companies higher on Thursday. Woodside is gearing up its Pluto LNG project to load its first export cargoes in the "coming days," Woodside said in its March quarter production report on Thursday. The flagship A$14.9 billion ($15.47 billion) Pluto LNG is Australia's third gas export project and the first to come online in six years. "Pluto has safely reached start-up and we look forward to our first LNG cargo. Pluto will add to the solid production base of our foundation projects," Woodside chief executive Peter Coleman said in the report. Although the Pluto development has come online in less than seven years from its discovery, it is a year behind its original target and A$900 million ...

US crude prices strengthen on economic optimism PERTH: US oil futures inched up in Asian trading on Thursday as strong US economic data, signalling a recovery in the world's largest economy and supply worries spurred by tensions over Iran's nuclear programme supported oil prices. In London, Brent crude was flat on Thursday, pressured by a fragile economic recovery in Europe, which is lagging the United States and Asia. "I am still bullish about the oil price in the short-to-medium term with demand ...
Australia MELBOURNE: Woodside Petroleum said it was considering selling a small stake in the huge Browse liquefied natural gas project in Australia, after receiving approaches from several firms. "In response to significant interest from a number of parties, Woodside is conducting a limited process to assess the potential sale of a minority portion of the company's equity in the development," the company said in a statement ot the stock exchange. The company put out the statement after The ...
Woodside shuts some oil production on cyclone forecast PERTH: Wooside Petroleum said on Wednesday it had shut oil production at its Vincent oil field off the coast of northwestern Australia due to a forecasted cyclone. A tropical low currently off the northwest coast will strenghten into a category two cyclone by Friday, according to Australia's Bureau of Meterology. Copyright Reuters, 2012 ...
Woodside: still backs James Price Point for Australia LNG        PERTH: Australia's Woodside Petroleum is still committed to developing the Browse LNG project at James Price Point, on the cost of northwest Australia, its chief executive Peter Coleman said. "James Price Point is clearly the main game for us," he told a conference call. Earlier Woodside warned it may need to delay a final investment decision on the huge Browse liquefied natural gas project by nearly a year to the first half of 2013. The warnings sparked further ...
Japanese in big Australian LNG buy     SYDNEY: Japanese firms have taken their biggest step into Australia's growing Liquefied Natural Gas (LNG) sector, with five major power companies signing a sales deal worth Aus$70 billion (US$71.8 billion). The Japanese utilities Tuesday committed to buying 4.0 million tonnes per annum (mtpa) of LNG from Australia's proposed Ichthys Project for 15 years, ahead of a final investment decision on the project, owner Inpex said. Inpex said the total volume of 8.4 million tonnes per annum of ...
BHP completes Petrohawk takeover      SYDNEY: Mining giant BHP Billiton said on Friday it had completed its US$12.1 billion takeover of the US-based Petrohawk Energy Corporation. The company, which posted a record-breaking financial year profit of US$23.6 billion this week, said the deal was sealed through a short-form merger under Delaware law. This was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP to acquire all outstanding Petrohawk common stock. BHP Billiton petroleum ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln