Wednesday, 17 August 2011 08:59
Posted by Shoaib-ur-Rehman Siddiqui
MELBOURNE: Woodside Petroleum , Australia's biggest oil and gas company, sees a strong continuing role for oil in the company's business, the firm said on Wednesday.
"I certainly do see a strong continuing role in our business for oil," Woodside's new chief executive, Peter Coleman, told reporters.
Oil contributes 36 percent of the group's revenue, a significant chunk for a company largely seen as an LNG player.
Woodside earlier topped market forecasts with a rise in first-half profit, buoyed by higher oil prices. See .
The stock rose 0.2 percent to A$37.40.
Copyright Reuters, 2011
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MELBOURNE: Woodside Petroleum , Australia's biggest oil and gas company, sees a strong continuing role for oil in the company's business, the firm said on Wednesday.
"I certainly do see a strong continuing role in our business for oil," Woodside's new chief executive, Peter Coleman, told reporters.
Oil contributes 36 percent of the group's revenue, a significant chunk for a company largely seen as an LNG player.
Woodside earlier topped market forecasts with a rise in first-half profit, buoyed by higher oil prices. See .
The stock rose 0.2 percent to A$37.40.
Copyright Reuters, 2011
...
SYDNEY: Two coal mines in Australia operated by BHP Billiton will be hit by more industrial action by union workers this weekend ahead of meetings next week over a new labour agreement, a union official said on Friday.
Rolling 12-hour work stoppages are scheduled for the Gregory and Blackwater collieries in the Bowen Basin coalfields of Queensland State jointly-owned by BHP Billiton and Mitsubishi and operated by BHP Billiton, Construction Forestry Mining and Energy Union (CFMEU) ...
SHANGHAI: Australia's thermal coal index was largely flat at close to $121 a tonne this week, as weaker demand from the rest of Asia was offset by wet weather in the key Hunter Valley coal belt, which helped to absorb extra supplies.
Steam coal prices in Australia finished the second quarter little changed but have shed nearly seven percent so far this year, after the deadly earthquake and tsunami in Japan slashed coal demand in the ...
SYDNEY: Energy giant Woodside signed off on a deal with traditional Aboriginal landowners Thursday allowing the development of a massive Aus$30 billion (US$32 billion) gas export project in Western Australia.
The agreement, between the Australian company and the Goolarabooloo Jabirr Jabirr Aboriginal people, secures the land needed to build the Browse Basin gas export project north of Broome in the Kimberley region.
Under the agreement, which resolves two years of negotiations, more than $1.0 billion will flow ...
WELLINGTON: New Zealand is not participating in the coordinated release of 60 million barrels of oil by developed countries announced by the International Energy Agency, the government said on Friday.
It said it had agreed to the collective action but was not required nor asked to contribute.
"On this occasion only IEA countries holding strategic stocks and representing more than 1 percent of IEA final oil consumption were requested to participate, but New Zealand only represents 0.4 ...
SYDNEY: Supply disruptions caused by Japan's recent earthquake and tsunami and by conflict in Libya are likely to result in volatile refining margins in the near term, Australian oil refiner Caltex said on Thursday.
But it added in a statement that, in the longer term, Asian supply-demand fundamentals pointed to a gradual improvement in underlying refiner margins.
Copyright Reuters, 2011 ...
SYDNEY: Oil giant Royal Dutch Shell unveiled plans Tuesday to convert one of its two Australian refineries into an import hub for Asian fuel, blaming strong regional competition for hitting business.
Shell Australia, the firm's local subsidiary, said Sydney's 75,000-barrel-per-day Clyde refinery was no longer competitive, as it was up against huge operations in places such as India, Singapore, South Korea, Japan.
"There has been a number of new, very large refineries built in the region in ...
