AUSTRALIAN OIL UP
FT - Australian oil producers were climbing on Wednesday following a lift in the price of oil overnight spurred by hopes that production cuts could be extended.
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.
The broader ASX/S&P 200 index was just 0.1 per cent higher.
Oil prices rose on Tuesday amid fresh speculation that Opec-led production cuts might be extended, with international benchmark Brent settling at $58.33 a barrel, up 1.7 per cent on the day.
Brent inched further up in the morning session in Asia on Wednesday, climbing 0.1 per cent to $58.40 a barrel while the key US marker, West Texas Intermediate, was off 0.1 per cent at $52.43.
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Earlier:
2017, October, 23, 11:25:00
AUSTRALIAN LNG UP ANEWAustralia 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.
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2017, July, 21, 09:00:00
AUSTRALIAN LNG UPAustralia'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. |
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.
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2016, July, 7, 18:05:00
LNG: BIG AUSTRALIAGross Australian LNG production increased by 53.2% in the March quarter to 10.1 MMt with the ramp-up of production from Australia Pacific LNG (APLNG) and Golar LNG (GLNG) projects in Queensland and the first cargo from the Gorgon project in Western Australia. The country's LNG exports reached 3.8 MMt during the same period, while Russia's LNG exports totaled 2.5 MMt. |
2015, December, 22, 19:50:00
AUSTRALIAN LNG HEDGINGUS oil major Chevron said on Tuesday it planned to sell up to 1m metric tonnes of LNG a year to China Huadian Green Energy from 2020, ensuring 80 per cent of gas from its Gorgon and Wheatstone projects is committed in long-term contracts.
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2014, September, 18, 17:45:00
AUSTRALIA: HUGE GAS DISCOVERYAWE, Origin in Huge Western Australia Gas Find AWE Said it Could Be Largest Onshore Natural-Gas Discovery in Western Australia for 50 years |
2014, March, 17, 08:05:00
GREAT POTENTIAL IN QUEENSLAND“Great potential” for shale gas development in Queensland, Australia |