Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-09-18 17:45:00

AUSTRALIA: HUGE GAS DISCOVERY

AUSTRALIA: HUGE GAS DISCOVERY

Australian energy company AWE Ltd. said Thursday it may have made the largest onshore natural-gas discovery in Western Australia for 50 years, in partnership with Origin Energy Ltd. 

The Waitsia field could contain more than one trillion cubic feet of natural gas, AWE said, following an initial analysis of the recently drilled Senecio-3 well. The assessment helped to send shares in Melbourne-based AWE up 14%.

Australia has long been a hot spot for oil and gas exploration, and international companies including Chevron Corp. and Royal Dutch Shell PLC are investing billions to build export facilities following success with the drillbit in previous years.

However, industry groups say interest has been flagging recently, especially offshore where drilling costs can be high. In May, the Australian Petroleum Production & Exploration Association said the number of offshore wells drilled in Australia has fallen by more than two-thirds since 2003, while the total cost has increased fivefold.

AWE and Origin's Waitsia discovery, about 350 kilometers (217 miles) north of the state capital Perth, could help reverse this trend. It also comes exactly a month after U.S. energy company Apache Corp. APA -0.33% announced what would be one of Australia's largest oil discoveries in decades, with its Phoenix South exploration well offshore Western Australia finding as much as 300 million barrels of crude.

Most of Western Australia's oil and gas output is shipped to Asia where it is processed to create fuels for use by everything from power plants to cars. But there is also robust demand for piped natural gas within Western Australia to power mining and mineral processing projects, and AWE indicated it favors supplying gas from Waitsia to this market.

AWE believes the Waitsia field, located close to the shallower and smaller Senecio field, contains a gross contingent gas resource of between 65 billion cubic feet and 1.17 trillion cubic feet.

The wide range is because of the limited data available. AWE said further testing of the find is expected later this year, and says its best estimate is that the field contains 290 billion cubic feet of natural gas.

"AWE believes the Senecio/Waitsia discovery could represent the largest onshore conventional gas discovery in Western Australia since the Dongara gas field was discovered in the 1960s," AWE Managing Director Bruce Clement said.

The gas in Waitsia could be produced relatively quickly using existing infrastructure just 7 kilometers from the well, he said.

If additional testing is successful, the new fields could deliver "significant additional gas into the Western Australia domestic market," Mr. Clement said.

wsj.com

Tags: AUSRTALIA, GAS, AWE, ORIGIN, CHEVRON, SHELL, APACHE,

Chronicle:

AUSTRALIA: HUGE GAS DISCOVERY
2018, June, 18, 14:00:00

U.S. IS BETTER

IMF - Within the next few years, the U.S. economy is expected to enter its longest expansion in recorded history. The Tax Cuts and Jobs Act and the approved increase in spending are providing a significant boost to the economy. We forecast growth of close to 3 percent this year but falling from that level over the medium-term. In my discussions with Secretary Mnuchin he was clear that he regards our medium-term outlook as too pessimistic. Frankly, I hope he is right. That would be good for both the U.S. and the world economy.

AUSTRALIA: HUGE GAS DISCOVERY
2018, June, 18, 13:55:00

U.S. ECONOMY UP

IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is already near levels not seen since the late 1960s and growth is set to accelerate, aided by a near-term fiscal stimulus, a welcome recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment with a broad-based pick up in global activity. Next year, the U.S. economy is expected to mark the longest expansion in its recorded history. The balance of evidence suggests that the U.S. economy is beyond full employment.

AUSTRALIA: HUGE GAS DISCOVERY
2018, June, 18, 13:50:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

U.S. FRB - Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. Manufacturing production fell 0.7 percent in May, largely because truck assemblies were disrupted by a major fire at a parts supplier. Excluding motor vehicles and parts, factory output moved down 0.2 percent. The index for mining rose 1.8 percent, its fourth consecutive month of growth; the output of utilities moved up 1.1 percent. At 107.3 percent of its 2012 average, total industrial production was 3.5 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 77.9 percent, a rate that is 1.9 percentage points below its long-run (1972–2017) average.

AUSTRALIA: HUGE GAS DISCOVERY
2018, June, 18, 13:45:00

SOUTH AFRICA: NO BENEFITS

IMF - South Africa’s potential is significant, yet growth over the past five years has not benefitted from the global recovery. The economy is globally positioned, sophisticated, and diversified, and several sectors—agribusiness, mining, manufacturing, and services—have capacity for expansion. Combined with strong institutions and a young workforce, opportunities are vast. However, several constraints have held growth back. Policy uncertainty and a regulatory environment not conducive to private investment have resulted in GDP growth rates that have not kept up with those of population growth, reducing income per capita, and hurting disproportionately the poor.

All Publications »