Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply.
Australia LNG continues to disrupt after Narelle Thousands without power
Australia's liquefied gas production remains disrupted, and thousands of people in the remote north were left without electricity on Sunday. This is more than a fortnight after the Narelle Storm System hit the country. The impact of the 'Narelle', which was downgraded to a tropical cyclone on Saturday, has been exacerbated by a global LNG shortage caused by a month-old Iran War. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world.
Australia LNG continues to disrupt after Narelle, thousands of people without power
On 'Sunday', Australia's liquefied gas production was still disrupted. Thousands of people in the remote north were without power for more than a month after the Narelle Storm System?hit Australia. The impact of?Narelle, which was downgraded to a?tropical storm on Saturday, has been exacerbated by a global LNG supply crisis caused by the Iran War, which is now a month old. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Narelle, the former tropical storm that weakened in Australia's north-west, continued to disrupt production at two of Australia’s largest liquefied?gas plants Saturday. Narelle, the category four tropical storm that has been ravaging Australia's Queensland and Northern Territory ever since it made landfall on?March 20th, hit Western Australia Thursday. It affected LNG plants operated by Chevron, Woodside, and others. The impact of the storm exacerbated an existing global supply crisis caused by the Iran War.
Chevron reports gas outage in Australia due to Cyclone
Chevron announced 'on Friday that it is working to restore the production at its Gorgon and Wheatstone liquefied natural gas facilities in Australia, following production outages likely caused by Tropical Cyclone Narelle. The Wheatstone 'Platform', located about 225km (140miles) off Australia’s west coast at midday local time (0400 GMT), experienced an outage. This caused a suspension in onshore gas production. A three-hour outage at Gorgon's Barrow Island facility, located about 50 km offshore, shut down one of the three LNG production trains.
Japan Industry Ministry asks Australia for increased LNG production amid Iran Crisis
Japan's Industry Minister Ryosei AKazawa?on Saturday asked Australia to increase its output of liquefied gas in light of the Middle East crisis. Around 11% of Japan's LNG imports come from the Middle East, and 6% of that is shipped through the Strait of Hormuz. This route has been effectively closed by the U.S./Israeli war against Iran. Japan is also dependent on the Middle East for 95% of its crude oils. The U.S./Israeli war against?Iran shut down QatarEnergy LNG plants, disrupting Middle East energy supplies.
Australia reaches new renewable milestone over 50%
The Australian Energy Market Operator (AEMO), a'statement made on Thursday,' said that Australia had achieved a clean energy milestone in the quarter ending December, despite a rise of over 2,2% in power demand from a year earlier. The gas-fired generation has fallen to its lowest levels since 2000. Meanwhile, the total electricity production across the National Electricity Market grew 3.1% from one year ago to just under 25,000 megawatts. The share of generation from renewables increased by 5 percentage points compared to a year earlier…
Australia now offers three new offshore wind licenses
The government announced on Friday that Australia had offered offshore wind licenses for projects off the coast of Western Australia's southern coast. These projects could bring 4 gigawatts (GW) of clean energy to the state's isolated power system. The offer comes after several other offshore wind project on the east coast Australia have been pulled in the last 18 months, slowing down the sector's progress. The state has extended the subsidy for a coal mine by five more years, citing energy security.
Australian state approves Kimberley fracking plan, drawing anger
The state's environmental protection agency approved a controversial fracking proposal in Western Australia's remote, ecologically sensitive Kimberley region on Tuesday. This angered environmental campaigners. Bennett Resources, an American-based private subsidiary, Black Mountain Energy, presented its Valhalla Plan in 2021 for fracking?upto?20 wells. Later, it increased the amount water needed per well from 40 to 100 millions litres. A report…
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after Meg O'Neill's unexpected departure for the top position at?BP. This comes at a time when the Australian company is trying to deliver on key projects in a?braced?for a glut of supply. Analysts say that the oil and gas company will continue to pursue its global growth strategy. This requires continued investment in new assets as well as continuity in mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after BP's?chief executive Meg O'Neill's unexpected departure for the top position at BP. This comes as the Australian 'firm' is trying to deliver key projects on a market that's braced for an oversupply. Analysts say that the oil and gas "producer" is expected to continue with its global strategy of growth, which requires sustained investment in both new assets and continuity within mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project.
Australia's Waitsia Project begins sending gas to LNG export
Beach Energy, an Australian company, announced on Monday that the Waitsia onshore project located north of Perth has begun sending natural gas to Woodside Energy's liquidified natural gas export facility. Mitsui, a Japanese company, operates the Waitsia Project and shares it with Beach. Mitsui and Beach have signed a contract with the North West Shelf partners Woodside, BP Shell and Japan LNG for the supply of the facility in 2020. Japan LNG, a partnership between Mitsui & Mitsubishi, holds a sixth of the facility.
Chevron's Gorgon project receives $2 billion investment approval
The Australian unit, owned by the U.S. oil company Chevron, announced on Friday that partners in the Gorgon Joint Venture had sanctioned the A$3 Billion ($1,98 Billion) Gorgon Stage 3 Development off the northwest coast of Western Australia. The project will serve as a backfill to the LNG export concern, and will connect the offshore Geryon & Eurytion gas fields with Gorgon's infrastructure on Barrow Island. Chevron plans to drill up to 40 wells in seven fields, with a field life of 2070.
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills.
Woodside Energy reaches two-week peak after increasing 2025 production forecast
Woodside Energy shares rose to their highest level in two weeks on Wednesday, despite a 9.4% drop in revenue for the third quarter due to lower average realized prices. The largest independent energy company in the country expects its fiscal 2025 production will be between 192 and 197 millions barrels of oil-equivalent, higher than their previous forecast of 188 to195 mmboe. The company's shares rose up to 4.1%, reaching A$23.31 at 2316 GMT.
Russell: The US-Australian critical minerals deal highlights the gap with China
It is not the game changer needed to reduce Western dependence on China. But it is a first important step. U.S. president Donald Trump and Australian prime minister Anthony Albanese signed a deal in Washington on Monday that could see up to $8 billion invested in projects for the development and refinement of metals essential to industries such as defence, advanced manufacturing, and energy transition. You can dismiss this as political hyperbole and spin, given China's dominance in the majority of global supply chains for critical minerals.
Russell: The US-Australian critical minerals deal highlights the gap with China
It is not the game changer needed to reduce Western dependence on China. But it is a first important step. U.S. president Donald Trump and Australian prime minister Anthony Albanese signed a deal in Washington on Monday that could see up to $8 billion invested in projects for the development and refinement of metals essential to industries such as defence, advanced manufacturing, and energy transition. You can dismiss this as political hyperbole and spin, given China's dominance in the majority of global supply chains for critical minerals.
Australia approves the North West Shelf Gas Plant to operate until 2070
Australia approved Woodside's application to operate Australia's second largest and oldest liquefied gas plant, the LibNaGa Plant, until 2070. The new emission rules were imposed to reduce its environmental impact. North West Shelf, a plant in Western Australia, is expected to emit up to 4.3 million metric tons carbon dioxide over its lifetime. Critics say this will endanger nearby ancient rock art as well as set back climate change efforts.
Mining giants squeeze their dividends to fund growth
This earnings season has seen large miners pay out the lowest dividends they have paid in years. Mineral prices are falling and they must retain cash to fund their massive development plans, all while keeping costs down. BHP is expected to continue this trend when it releases its earnings on August 19, along with Anglo American, Rio Tinto and Glencore. After years of high profits driven by China, backed up by supply problems linked to COVID-19 and Russia…