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2017-12-18 12:20:00

AUSTRALIA STOPS COAL

AUSTRALIA STOPS COAL

PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.

"While we will continue to support our existing customers across the mining and energy sectors, including those with existing coal assets, NAB will no longer finance new thermal coal mining projects," the company said in a statement.

NAB, one of Australia's four major banks, said it has an important role to play in the transition to a low carbon economy.

"An orderly approach to the low carbon transition is critical to ensure Australians can continue to have access to secure, reliable and affordable energy and support our economy," NAB said.

The announcement come after the state government of Queensland earlier this week asked the national government to veto a federal loan worth A$900 million ($681 million) to fund infrastructure to advance Adani's 60 million mt/year Carmichael thermal coal project in the state.

A number of Chinese banks have also recently announced they will not finance the Carmichael project.

Another of Australia's four major banks, the Commonwealth Bank, announced in mid-November that it intends to reduce financing to coal projects, S&P Global Platts reported earlier.

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Earlier:

 AUSTRALIAN OIL UP
2017, October, 25, 12:10:00

AUSTRALIAN OIL UP

The S&P/ASX 200 Energy index added 0.7 per cent, with Beach Energy – the recent buyer of Origin Energy’s conventional oil and gas business assets – up 2.8 per cent, Origin up 1.1 per cent and Caltex Australia up 1 per cent.

 

 AUSTRALIAN LNG UP ANEW
2017, October, 23, 11:25:00

AUSTRALIAN LNG UP ANEW

Australia became the world’s second-largest exporter of liquefied natural gas (LNG) in 2015 and is likely to overtake Qatar as the world’s largest LNG exporter by 2019. As Australia’s LNG exports have increased, primarily from LNG projects in eastern Australia, the country has had natural gas supply shortages in eastern and southeastern Australia and an increase in domestic natural gas prices.

 

 AUSTRALIAN LNG UP
2017, July, 21, 09:00:00

AUSTRALIAN LNG UP

Australia's LNG exports in fiscal 2017-2018 (July-June) will be 63 million mt, after it crossed, for the first time, 50 million mt in fiscal 2016-2017, energy consultancy EnergyQuest said in its forecast on Wednesday.

 

 AUSTRALIA - CHINA LNG UP
2017, June, 28, 15:00:00

AUSTRALIA - CHINA LNG UP

Among China's LNG suppliers Australia has fared best, with imports rising 42.7 percent in the first five months to 5.39 million tonnes, almost double that of second-placed Qatar at 2.84 million tonnes.

 

 AUSTRALIAN LNG CONTROL
2017, June, 24, 09:40:00

AUSTRALIAN LNG CONTROL

Australia is set to apply LNG export controls, aimed at securing domestic supply of gas and keeping prices of the fuel in check, from January 1, the government announced earlier this week despite industry warnings about the decision's potential impact on energy investment.

 

 AUSTRALIAN LNG INFLATION
2016, October, 31, 18:45:00

AUSTRALIAN LNG INFLATION

“The rampant cost inflation on Australian projects combined with the collapse in oil prices is damaging for a lot of these projects,” said Neil Beveridge, analyst at Bernstein. LNG prices have been affected by a supply glut and are also linked to oil prices in Asia.

 

 AUSTRALIAN LNG: 25 MLN MT
2016, October, 14, 18:40:00

AUSTRALIAN LNG: 25 MLN MT

The three facilities have the combined capacity to supply 25mn mt/yr of LNG –equal to about 8% of the world’s production, Bechtel said October 11.

 

 

 

 

Tags: AUSTRALIA, ENERGY, COAL

Chronicle:

AUSTRALIA STOPS COAL
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

AUSTRALIA STOPS COAL
2018, January, 19, 12:10:00

ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

AUSTRALIA STOPS COAL
2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

AUSTRALIA STOPS COAL
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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