Australia relaxes the east coast gas reservations rule for LNG exporters and delays start in 2028
Australia relaxed slightly on Thursday a proposed rule that would have "forced" energy exporters to set aside a fixed amount of natural gas (?20%) for its East Coast market. Instead, they were required to reserve as much as a fifth. The Energy Minister Chris Bowen stated that exporters can provide up to an additional 200 petajoules per year. This is more than enough for the energy market operator to be able to meet the potential shortfalls up to 140 petajoules.
Australia relaxes East Coast Gas Reservation Rule for LNG Exporters
Australia relaxed slightly on Thursday a proposed rule which would have forced energy exporters 'to reserve a fixed 20% of natural gas for its East Coast market, but instead required them to reserve as much as a fifth. Energy Minister Chris Bowen stated that exporters could provide an additional 200 petajoules per year. This would be more than enough to prevent the potential shortfalls predicted by the energy market operator. Bowen, in a press release…
Beach Energy's shares fall on weak production forecast, but the company is still profitable.
Beach 'Energy' posted a profit for the year on Thursday. This is a dramatic turnaround from a loss a year earlier. However, shares in this Australian oil and gas producer fell more than 6% as investors focused on their?soft? production outlook. The Adelaide-headquartered company forecast fiscal 2027 production of between 19.5 million and 23 million barrels of oil equivalent (MMboe), a range Citi analysts said was around 5% below the Visible Alpha consensus estimate at the midpoint. Beach shares fell 6.2%, to A$0.835.
The Australian oil refinery's re-orientation will have to overcome several obstacles
The proposal by Australia to build its first oil refinery for 60 years is hampered by a lack of crude supplies, an uncertain fuel demand in the future, and a builder who has little experience refining. The Prime Minister Anthony Albanese, and the Resources Minister Madeleine King announced a pre-feasibility study worth A$4,000,000 ($2.8million) for a new refinery that will be built by Perdaman. The government is looking to build a potential…
Australian energy firms increase their exploration
Australia is the No.2 liquefied natural gas producer in the world. This increase is due to domestic gas demand, a more favourable investment climate and improving technology. Australia, the world's No. Geoscience Australia has provided a summary of drilling activity, including estimates of contingent resources as of October 20, 2025, except where otherwise noted. The Beetaloo Sub-basin lies in the Northern Territory around 500 km (310 mi) south of Darwin.
Woodside Energy in Australia says that it has no knowledge of any Exxon Mobil proposal.
Woodside Energy, Australia's energy company, said on Monday that it was not aware of any?proposal by Exxon Mobil in the United States and had not been involved in discussions about a possible transaction. This is in response to recent media speculation. Woodside's share price fell by 2.7% on the Australian Stock Exchange in the early trading on Monday. Oil prices dropped 4%, to their lowest level since March. This was after the U.S. announced that it had reached a preliminary?deal with Iran to end the war and reopen the Strait of Hormuz.
Western Australia opposes a possible Exxon acquisition of Woodside Energy
Roger Cook, Premier of the State, said that on Sunday, the West Australian government would try to prevent a takeover by Woodside Energy which involved moving its headquarters. Woodside has led the development of Australia's Liquefied Natural Gas industry since 1990. Bloomberg News, citing sources familiar with the situation, reported that ExxonMobil, a U.S. energy giant, is looking at targets including Woodside. However, it stated internal discussions are still in an early phase. A Woodside spokesperson declined comment.
Woodside exercises pre-emptive rights to purchase 10.67% stake of Browse JV from PetroChina
Woodside Energy announced on Friday that it had exercised its pre-emptive rights to purchase PetroChina's 10.67% share in the Browse gas fields off 'the coast of Western Australia'. This blocked a deal with Japan's INPEX. Woodside has agreed to pay PetroChina $225 million in cash and reimbursement for all contributions made up until June 30, 2025. Woodside also said that the agreement includes a $175 million contingent payment if Browse joint venture makes a final decision on investment in the Brecknock gas field…
BP sells 5% of the Australian Browse LNG Project to South Korea’s GS Energy
GS Energy, a South Korean company, has agreed to buy 5% of BP's stake in Browse - a liquefied gas project in Western Australia. The deal leaves BP with a stake of 39.33% in the Woodside project. This project is estimated to cost A$48.7billion ($34.96billion) and aims to develop Australia’s largest untapped 'gas resource. "BP and its Partners continue to?see long-term value?? The North West Shelf is one of Australia's largest LNG export facilities. However, the progress has been slowed by regulatory approvals.
Premier says Australia's largest LNG producer is confident that export restrictions will not harm the state.
Roger Cook, the premier of Western Australia, said that Madeleine King had "assured him" on Wednesday that a new federal policy reserving 20 percent of gas output for domestic use would not harm his large 'LNG' industry. He said that Maddie King was a good friend and my local member. We've discussed this extensively, and she's determined to ensure it does not have a negative impact on Western Australia's established practices. Since Iranian strikes have?knocked-out Qatari LNG installations…
The draft Australian LNG policy is a source of anger for the industry
The Australian government released on Monday a draft version of its rules for the export of liquefied gas for consultation. It was aiming to clarify its 20% domestic reservation rule, but instead received criticism for its opacity. The Domestic Supply Obligation rule (DSO) will be in effect from July 2027. It will only apply to contracts and?extensions to existing contracts that were signed after December 22,?last year?. However, it is clear the government wants to "respect" all contracts while bringing more gas to the market.
The Australian far-right party proposes a state oil company and oil fund similar to Norway
One Nation, the Australian populist group led by Pauline Hanson, said it wanted to create an offshore production licenses fund in federal waters and a sovereign wealth fund in the style of Norway. It announced its 'energy policy' at the Australian Energy Producers Conference in Adelaide. One Nation, the Australian populist party led by Pauline Hanson, has gained popularity in recent years, winning their first House of Representatives seats. Gina Rinehart has also backed them, donating a plane and hosting dinners.
Australian Energy Producers claim that the gas review fails to meet supply goals
Australian Energy Producers' (AEP) Chairman Cecile Wake said on Tuesday that government's review of the gas market falls short of its goal to increase supply. Wake said, "We must not make a false choice" between a well-supplied gas?market at home and a strong industry (liquified natural?gas). This month, following the review first announced in December and a requirement that energy exporters reserve 20% of their gas for Australia’s domestic east coast markets, a final decision was made. Wake is also the Country Chair of Shell Australia.
Inpex, a Japanese company, will buy a stake in the Australian Browse gasfield from PetroChina
Inpex, a Japanese company, announced on Friday that it would buy PetroChina's 10% share in the Browse gas field offshore of Western Australia. This is the largest undeveloped gas resource for the country. The Japanese company did not reveal the price they paid for the Chinese giant’s 10,67% stake in Brecknock Calliance Torosa Gas Fields. The sale and purchase of goods would only be completed after regulatory approvals, and the agreement between joint venture partners.
The Australian union has announced that some workers will begin a strike at Woodside's LNG facilities
The Offshore Alliance workers' union announced on Friday that some workers at Woodside Energy’s?Karratha liquefied natural gas /plant in Western Australia and its?Pluto gas?plant in Western Australia would begin striking action as of Wednesday. Offshore Alliance is a grouping of Australian?Workers Union' and Maritime Union of Australia. It said that it had informed contractor UGL, on Tuesday, of its intention to take?Protected Industrial Action(PIA) next week in a dispute?over wages?and conditions.
Australia requires LNG exporters reserve 20% of their gas for the east coast market
The Australian government announced on Thursday that 'energy producers should reserve 20% of the natural gas they produce for the domestic market on Australia's east coast to avoid supply shortages and lower energy costs. The government announced that the scheme would be implemented in July of next year, and will replace several current market interventions. The reservation scheme will affect three liquefied gas export projects on the East Coast operated by Origin Energy?, Shell?, and Santos. "This is an incredibly well-?
Woodside Energy to review its business, and revenue will be affected by cyclone-related disruptions
Woodside Energy, Australia, announced a review of its operations to improve accountability and simplify the business. The company reported a lower revenue for the first quarter due to cyclones. CEO Liz Westcott, in reference to the review, said that cost discipline is a key component of this effort. Westcott stated that "we expect this to deliver benefits by improving organisational effectiveness and capital planning? A powerful tropical cyclone that hit Western Australia last month disrupted the production at Woodside’s Karratha Gas Plant…
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.