Sep 25, 2017 Last Updated 2:27 PM, Sep 22, 2017

New Entry From the Editor :

Rio Tinto commits further $3.15 billion to shareholders in buyback programme

Rio Tinto commits further $3.1…

AusBN - Rio Tinto has announced it will distribute a further AUS$3.15 billi...

BHP surges back to profit thanks to increased prices and improved productivity

BHP surges back to profit than…

AusBN- BHP demonstrated a strong financial performance for the last fiscal ...

Toys R Us to trade as usual in Australia despite filing for bankruptcy

Toys R Us to trade as usual in…

AusBN - Toys R Us has confirmed it will continue to operate as normal in Au...

Origin Energy sells Darling Downs pipeline

small pipeline new mexicoAusBNAusBN - Origin Energy (ASX:ORG) has agreed the sale of its Darling Downs pipeline network in Queensland to Jemena Gas Pipelines for AUS$392 million.

The deal with Jemena, owned by State Grid Corp of China and Singapore Power, represents the latest divestment in Origin’s asset sale programme, which was initiated in 2015.

The strategy aimed to raise $800 million through divestment of non-core assets by June 2017.

In a statement following the announcement, Chief Executive Frank Calabria said: "We're on track to achieve our target of adjusted net debt of well below $9 billion by 30 June 2017."

He added that the company was making good progress towards hiving off its gas fields this year.

Bosses at Origin are also creeping towards giving the green light for an initial public offering (IPO) of the business, while considering other offers from gas producers and other firms. 

@AusBNOnline

 

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner

Recent Tweets