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Sydney Morning Herald

Woodside Petroleum drops $40 billion Browse floating LNG project

Mar 23rd, 2016
by John Donovan.
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Screen Shot 2016-03-15 at 10.34.57Shell, Woodside’s biggest partner in the project, had also spoken cautiously on its prospects…

Angela Macdonald-Smith: Energy Reporter: 23 March 2016

Woodside Petroleum chief executive Peter Coleman is turning a keener eye to potential acquisitions after a decision by the Browse joint venture to ditch a $40 billion-plus floating LNG project freed up the company to chase “attractive” assets.

The indefinite deferral of the Browse project off the north-west coast was forced by the collapse in oil prices, which created an “extremely challenging external environment” for the huge project despite work done to reduce costs, Woodside said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.

OPEC ‘dead’ as oil countries go it alone on price and production

Dec 7th, 2015
by John Donovan.
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December 7, 2015

OPEC has abandoned all pretence of acting as a cartel. It’s now every member for itself.

At a chaotic meeting Friday in Vienna that was expected to last four hours but extended to nearly seven, the Organisation of Petroleum Exporting Countries tossed aside the idea of limiting production to control prices. Instead, it went all in for the one-year-old Saudi Arabia-led policy of pumping, pumping, pumping until rivals – external, such as Russian and US shale drillers, as well as internal – are squeezed out of market share. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.

Shell rethink on LNG looms large

Jan 21st, 2014
by John Donovan.
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Whether it is 400 or 600 staff that are destined for redundancy (depending on which rumour you believe) there is a clear pattern that Arrow (Shell’s investment vehicle in Queensland LNG) in a joint venture with PetroChina is looking to downgrade its expenditure in Queensland.

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Business columnist: January 21, 2014

The new management broom at Shell’s head office is arguably going to have a bigger impact on Australia than the changing of the guard at even a large local company.

Shell’s new international boss is clearly rethinking the economics of the company’s Australian investments – which includes Woodside, the refinery operations in Geelong, but more immediately the $20 billion Queensland-based LNG and various West Australian LNG projects.

Development of LNG was what the government was betting on to replace a large portion of investment in iron ore and coal as a driver for economic growth. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.