Feb 25, 2018 Last Updated 10:02 AM, Feb 23, 2018

New Entry From the Editor :

Australia slips to second place in mining investment attractiveness ratings

Australia slips to second plac…

AusBN - Australia has fallen to second place in the Fraser Institute’...

Wesfarmers reports 87% H1 profit plunge on business write-downs

Wesfarmers reports 87% H1 prof…

AusBN - Wesfarmers (ASX:WES) has reported an 86.6% nose-dive in its H1 net ...

Australian female labour force participation reaches record high

Australian female labour force…

AusBN - Australia’s female labour force participation rate reached a ...

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

 

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