Resources exploration spending by Australian companies at home and abroad hit the highest levels in seven years in the June quarter, as the commodities sector continues to make strong gains in tandem with a broader global economic recovery from the pandemic. According to a study by...
BHP is engaging in talks with Australia’s Woodside Petroleum over a potential merger of its US$13 billion-valued petroleum business. The potential transaction between BHP and Woodside would mark the world’s biggest mining group’s exit from the oil and gas industry, as it faces growing shareholder pressure...
An unsourced media report today has linked Woodside Petroleum with the acquisition of 100% of the oil and gas assets owned by mining giant BHP. Analysts and an investor referenced in a Reuters article claim that Australia’s top independent gas producer is in talks with BHP...
The government of Queensland is set to establish a A$2 billion Queensland Renewable Energy and Hydrogen Jobs Fund that will support the state’s 50% renewable energy target by 2030. Expanding on the previous $500 million Renewable Energy Fund, the latest initiative will enable investments by Queensland’s...
Santos has approved the development of its A$4.7 billion Barossa gas project off the coast of Darwin, after putting the plans on hold last year due to the COVID-driven market crash. The Australian oil and gas producer said that the green light will also kickstart a...
BP has revealed plans to stop producing fuel at its Kwinana oil refinery in Western Australia, instead converting the facility into a fuel import terminal, in response to strong competition from the Asian market. The company said it would wind down operations at Kwinana – the...
Santos has discovered liquids-rich gas off the coast of Western Australia after a drilling campaign was completed at its wholly-owned Corvus-2 well. The company’s managing director Kevin Gallagher said Corvus-2 had delivered a fantastic result that opened up additional exploration opportunities in the region. “It is particularly...
Woolworths Group has announced it will sell its Australian petrol business to UK petrol retailer EG group for a sum of AUS$1.73 billion. The deal comes months after BP’s botched attempt to buy the assets from Australia’s largest supermarket operator. Australia’s antitrust regulator blocked the $1.8...