Markets

Chevron is buying Anadarko in a $50 billion oil megadeal

Anadarko Petroleum is being bought by Chevron Corporation in a $US33 billion megadeal, sending Anadarko’s shares up by 30%. Chevron, the world’s third-largest energy company expects the deal to enhance its shale, deepwater, and natural gas operations. Chevron expects to realise $US2 billion in synergies from the deal, but take […]
Chevron is buying Anadarko in a $50 billion oil megadeal
Markets

Australia finally has enough gas to meet domestic demand

No supply gaps in gas are forecast before 2030 despite Australia about to become the biggest exporter of liquefied natural gas (LNG) in the world. Domestic supply in eastern and south-eastern Australia will also be enhanced by connection to the Northern Territory gas fields through the Northern Gas Pipeline. The […]
Australia finally has enough gas to meet domestic demand
Markets

The surge in LNG exports helping to boost Australian GDP, in one chart

Australia’s latest GDP report will be released today, and it’s expected to be pretty good. Year-ended growth is expected to lift to the high 2% region, maybe more. Macquarie Bank estimates as much as 0.4ppts of this growth is entirely due to stronger LNG exports. Australia looks set to become […]
The surge in LNG exports helping to boost Australian GDP, in one chart
Markets

CHART: Australia’s top commodity exports

Australia recorded a trade surplus in nine of the past 10 months, including in February. This chart from the National Australia Bank (NAB) goes someway to explaining why. The value of Australia’s major commodity exports are increasing. Thanks to prior strength in iron ore prices and record shipments, metal ores […]
CHART: Australia’s top commodity exports
Markets

REPORT: A consortium is preparing a $11 billion takeover of Santos

A consortium of major energy investors is reportedly building an $11 billion offer for Australian producer and natural gas exporter Santos. The Australian Financial Review reports the investors are led by a former executive director of Royal Dutch Shell, Linda Cook. The pricing is at about $5.30 a share, a […]
REPORT: A consortium is preparing a $11 billion takeover of Santos
Markets

How Santos plans to help ease the gas shortage in Australia

Energy giant Santos says it plans to divert gas earmarked for export to the domestic market, to ease an expected squeeze on supply as Australia becomes the world’s biggest LNG exporter over the next two years. The company’s GLNG joint venture partners — Petronas, Total and Kogas — will supply […]
How Santos plans to help ease the gas shortage in Australia
Markets

Shares in Liquefied Natural Gas are going nuts

Shares in Liquefied Natural Gas Limited soared after the energy producer secured a $1.5 billion commitment from partner Stonepeak for its Magnolia LNG project in the US. At the close, the shares were up 26.79% to $0.71. “Stonepeak is a long term and valued partner in our project, and we […]
Shares in Liquefied Natural Gas are going nuts
Markets

Australian commodity prices fell heavily again in June

Prices for Australia’s key commodity exports fell heavily again last month, according to data released by the Reserve Bank of Australia (RBA) earlier today. The bank’s Commodity Price Index fell by 4.3% in SDR terms in June, following a 7.2% decrease in May. Courtesy of a stronger Australian dollar, prices […]
Australian commodity prices fell heavily again in June
Markets

Why the RBA is upbeat about the Australian economy

One of the factors underpinning the RBA’s forecasts for pickup in economic growth is that commodity export volumes will lift in the coming years. We’ve built the infrastructure, expanded operations, and now higher export volumes will follow suit, particularly for LNG. “Over the next couple of years we expect GDP […]
Why the RBA is upbeat about the Australian economy
News

Here is why Australian gas is cheaper in Japan than bought locally

It is bizarre that gas customers in Japan buy Australian gas more cheaply than Australians. Some of this gas is drilled in the Bass Strait, piped to Queensland, turned into liquid and shipped 6,700 kilometres to Japan … but the Japanese still pay less than Victorians. When Prime Minister Malcolm […]
Here is why Australian gas is cheaper in Japan than bought locally