The policies of Australia's major political parties in a single glance
Australians will cast their votes on Saturday, in a tight-run national vote marked by concerns about the cost of housing and living as well as the trade tensions caused by U.S. president Donald Trump's tariffs. Compare the key policies of the Liberal-National Coalition led by Peter Dutton and Anthony Albanese’s Labor Party, a centre-left party. The government has promised to spend A$10 Billion ($6.40 Billion) on building up to 100,000 homes. First-time homebuyers would be able to use up to $50,000 of their mandatory retirement savings to make down payments. Tax deductions for mortgage interest payments will be available.
As the election approaches, Australia's richest woman says she wants Trump like reforms
Gina Rinehart, a mining magnate in Australia, is calling on the country to adopt a Donald Trump-style of leadership and cut government spending while increasing defence expenditures and energy security. The country will be voting this weekend. Rinehart, a vocal Trump supporter, attended the inauguration party of President Trump in Mar-a-Lago, Florida, in January. She said that Australia would benefit more from adopting a similar strategy to "whine and complain" about Trump's policies. Rinehart, in an exclusive statement sent to…
Australian shares end five-day rally after miners drag; Woolworths increases consumer staples
Australian shares fell on Thursday, ending a five-day rally, as mining stocks weighed down the benchmark. Consumer staples rose, led by Woolworths, the country's largest grocer, which reported better-than expected third-quarter sales. By 0040 GMT, the S&P/ASX 200 Index was down 0.1% to 8,116.10 point. The benchmark index rose by 0.7% on Tuesday. The local exchange saw the biggest drop in the benchmark index, with a 1.6% decline, as the iron ore futures fell amid fears of steel production cuts by China, the top steel consumer. BHP Group, the world's largest listed mining company, fell 2.2% while Rio Tinto dropped 1.7%.
Woodside Energy, Australia signs LNG deal with BP to supply Louisiana project
Woodside Energy, a major Australian oil and natural gas company, announced on Wednesday that it had signed a deal with BP under which the British energy company would supply natural gases to its Louisiana liquefied gas project (LNG). Woodside, in a press release, said that the Louisiana project will buy a maximum of 640 billion cubic foot of gas over a long term basis from the integrated energy giant. However, it did not reveal any financial details. Woodside acquired Tellurian last year for $1.2 billion to develop in four phases the 27,6 million metric ton a year Louisiana LNG Project, formerly known as Driftwood.
Chevron, other companies withdraw from Egypt's Red Sea concessions and redirect resources
The Egyptian petroleum ministry reported that a number of multinational oil companies, including Chevron, have left their Red Sea oil concession blocks without finding any oil or gas and have instead channeled their resources to other parts of the country. In 2019, Egypt, as part of its effort to become a hub for energy, awarded the first oil and gas exploration concessions on the Red Sea to Chevron and Shell, and the Abu Dhabi sovereign fund Mubadala Investment Company. Moataz Aef, spokesperson for the ministry, told reporters Thursday that companies had spent millions of dollars on concessions in accordance with agreed-upon timeframes.
Santos Australia reports 7% decline in first-quarter revenue
Santos, an Australian oil and natural gas company, reported a 7% drop in its first-quarter revenue on Thursday. The fall was attributed to lower crude oil sales and weaker realised prices of domestic gas and LNG contracts linked to oil. Since China's first 15% retaliatory tax shut down U.S. imports, in February, global LNG prices have fallen. Meanwhile, mounting trade tensions are causing concern about demand erosion on major gas markets that could face economic contraction. According to Jarden’s data compilation, the average realized price for Santos’ liquefied gas plummeted to $11.57 per 1 million British thermal unit (mmBtu).
Shell reduces its first-quarter LNG Production Outlook
Shell has lowered its outlook for first-quarter LNG production in a trading report on Monday. It cited the impact of bad Australian weather, before publishing results on May 2nd. The British company forecasted that the LNG production would be between 6.4 and 6.8 millions metric tons. This is a decrease from its previous forecasts of 6.6 to 7.2 tons. In the fourth quarter last year, it produced 7.1 millions tons of LNG. The company stated that the downward revision was due to cyclones in Australia and unplanned maintenance. It added that the trading results of its gas division are expected be similar to the previous quarter.
Stonepeak acquires 40% stake in Woodside Energy Louisiana LNG project
The Australian energy company announced on Monday that Stonepeak, a U.S. investment firm, will purchase a 40% stake and contribute $5.7billion in capital expenditures in Woodside Energy’s Louisiana LNG Project. Stonepeak, a company that manages assets worth $72 billion, will provide $5.7 billion for capital expenditures to develop the foundations of the project. This contribution is expected to accelerate in 2025 and 2026. The agreement comes as President Donald Trump is pushing for trade partners to purchase more U.S. Energy.
Albanese, an Australian company, has pledged A$2.3 billion in order to assist homeowners with solar batteries
The Australian Prime Minister Anthony Albanese pledged A$2.3billion ($1.39billion) on Sunday to help homeowners purchase batteries to store solar energy and reduce their energy costs. This is a key issue for the 3 May general election. Albanese’s center-left Labor is neck-and-neck with the Liberal-National Opposition led by Peter Dutton in opinion polls. Dutton has been campaigning on a plan for lower electricity bills by forcing LNG producers to divert some of their exports to domestic use. Albanese announced in a Sunday statement that his proposal could save households up to A$4,000, or 30% of the cost installed for a typical energy storage battery.
Panic selling hits Australian energy stocks; Woodside, Santos slump
Australian energy stocks were hit hard by fears of further oil price declines after U.S. president Donald Trump's tariffs roiled global markets. The energy subindex fell 7.6% at 0434 GMT and plunged to its lowest level since November 10, 2020. It was on course for its worst day in more than five years. The benchmark ASX200 index fell 2.3%, to a nearly eight-month low level of 7,681.1. Eight OPEC+ nations agreed to move forward with their plan to increase oil production following Trump's announcement. This could put pressure on prices. Woodside Energy, a major player in the sector, lost nearly 9% and fell to its lowest level since November 29, 2021.
Glencore asks Australian Government to bail out local copper assets
Anglo-Swiss commodities company Glencore has said it has spoken to both Queensland and the Federal Government of Australia regarding the future of the Mount Isa Copper Smelter and Townville Copper Refinery assets. Glencore announced in October 2023 that its Mount Isa underground copper mines would be closed by the second half 2025. They cited studies and reviews which stated it was impossible to extend the mine's life. Sam Strohmayr said in a speech to Mount Isa local communities on Wednesday that the impact of the work is expected to be around 500 people. We're working hard to redeploy people as much as we can over the next few months.
Australia pours billions into missile procurement amidst global shortages
Australia's plans for developing its own missile component capability will likely be slowed by the Ukraine war and increased European defense spending, even though it is pushing ahead with a multi-billion dollar effort to purchase long-range attack missiles. Last year, Prime Minister Anthony Albanese committed A$74 billion (46.68 billion dollars) for missile acquisition. This included A$21 billion towards the establishment of a Guided Weapons and Explosive Ordnance Enterprise. His Labor government had reshaped Australia's defence policy to counter China's military buildup.
Australia's east Coast could experience gas shortages during winter, warns regulator
The Australian Competition Regulator warned on Thursday that the East Coast could be left with a shortage of gas during its winter period spanning from July to September if LNG producers export all their gas not contracted. In its quarterly update, the Australian Competition and Consumer Commission said that the east coast may face a shortage of 9 petajoules while the southern states might face a 40 PJ deficit. Winter in Australia is a time of peak demand for gas due to the colder temperatures. Unexpected weather events and power plant failures can also increase the risk of shortages.
The prize is worth billions of dollars, but winning it is the key: Russell
Decarbonising steel is one of the biggest challenges to meeting climate goals. However, it could be extremely profitable for those companies and governments willing to take on the risk. Steel value chain is responsible for 7 to 9% global carbon emissions. It is the biggest industrial contributor, and therefore a primary target for many countries' and companies' goals for net-zero in 2050. About 80% of the steel emissions are caused by one single process. This is the removal of oxygen and other impurities from iron ore to produce pig iron, or crude iron. The process now requires vast amounts of coal.
Trafigura cancels plans to build a $471 million hydrogen facility in South Australia
Trafigura, the global trading company for commodities, has canceled plans to build a green hydrogen plant worth A$750m ($471.2m) at its Port Pirie Lead Smelter in South Australia. A spokesperson said this on Tuesday. Trafigura, a Swiss company, had commissioned a design study, funded jointly by the South Australian government and Trafigura, in order to reduce the carbon emissions of the plant. Trafigura has completed a feasibility study worth A$5million for a green hydrogen project in Port Pirie. After the completion of the study it was decided not to continue," said the spokesperson in an email without disclosing any details.
Australia shares gain for the second straight session, as energy and tech leads gains
Tuesday saw Australian shares rise for the second session in a row, boosted by energy and technology stocks. Rising oil prices, and Wall Street's positive lead, also helped to boost sentiment. By 2335 GMT, the S&P/ASX 200 Index had risen 0.6% to 7,904.2. The benchmark closed Monday 0.8% higher. The energy sub-index on the local exchange increased by 1.5%, as oil prices continued to rise due to escalating geopolitical conflicts in the Middle East. Meanwhile, stronger Chinese economic data also boosted demand expectations. Woodside Energy, a major sector player, and Santos both added 1,2% and 0,6% respectively.
Naturgy receives shareholder support for its 2.3 billion euro buyback plan
The Spanish utility Naturgy announced on Friday that it had set a maximum value for a share purchase announced last month of 2.33 billion euro ($2.53 billion), after its four major shareholders committed to support the plan. The company intends to resell its bought-back stock on the market in order to increase the free float of the company and to return it to the main indexes. This will support their market value. Naturgy has confirmed that it will pay the same 26.5 euros per share as was announced in February. It will purchase up to 88,000,000 shares or 9.08% its total equity. On Friday morning, shares rose 0.8% to 25.14 euro.
Trump's Energy dominance aims to attract more global companies to the US
Executives said that the market upheaval caused by U.S. president Donald Trump's protectionist policies on trade has not dampened interest from foreign investors in the U.S. Energy Industry. They praised his promise to reduce regulations and support fossil energies. Trump made energy dominance the cornerstone of his administration. He declared a national emergency on his first official day in office, and pulled the U.S. out of the Paris Climate Agreement. He has encouraged energy companies to increase fossil fuel production, and promised lower prices for consumers. Trump's energy stance has been widely welcomed by the U.S.
Australian shares gain modestly as commodities support
Australian shares rose on Monday and hovered below the important 8,000-level as commodities fueled a slight recovery in the benchmark index after a selloff in the previous session amid market uncertainty. As of 2341 GMT, the S&P/ASX 200 was up 0.2% to 7963.8. The benchmark index fell 1.8% on Friday to close below 8,000 for the first six-month period, amid uncertainty about global trade. Energy stocks gained nearly 1% in tandem with a recovery of crude oil prices after U.S. president Donald Trump warned about sanctions against Russia, a major oil producer, raising fears over possible disruptions to commodity's supply chains.
Russell: China's commodity imports will continue to decline until 2025 due to economic and trade concerns
China's imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. The January-February period saw a rise in coal imports compared with the same period of 2024. However, the figures were significantly lower than in November and Decemeber, indicating that China's appetite is decreasing for the fuel. China's tepid year-to-date performance is a cause for concern, particularly as tensions between the U.S.
