Australian Oil Production on a Large Scale Unlikely to Happen Soon
Bloomberg reported that large-scale oil and gas production in Australia likely will not happen for up to a decade unless companies focus on higher-priced oil and liquids.
Articles Tagged "australia"
Ten-Year Wait for Large-Scale Australian Oil and Gas Production?
Bloomberg reported that obstacles such as a lack of drilling equipment and increased labor and infrastructure costs could mean that Australian shale explorers will not reach large-scale oil and gas production for another ten years.
Australia Suggests Oil and Gas Exploration Locations
Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.
Rising Gas Prices to Follow Japan Disaster
The Energy Information Administration (EIA) forecasts that increasing consumption in 2012, led by strong growth in the electric power sector, should contribute to higher prices and to an economic incentive for producers to resume drilling.
Chevron Eyes Aussie Gas, Tightens Refinery Squeeze
Reuters reported that Chevron (NYSE:CVX) is putting significant investment into two Australian natural gas projects.
China and Shell to Explore Canadian Oil Sands
As China demonstrates its political clout at the G20 summit in Seoul, the country continues to make headlines in economic and energy news as the China National Petroleum Company (CNPC) has made an agreement with Shell to develop oil sands. CNPC, the parent of PetroChina, reported that its president, Jiang Jiemin and Royal Dutch Shell Plc (NYSE:RDS.B)CEO Peter Voser signed a memorandum of agreement in Beijing on "integrated co-operation" of oil and gas projects in Canada and coal bed methane development in China.
Australian Investment in Gas Projects
Shell may spend $50 billion in Australia over the next decade as Europe’s largest oil company continues a shift to gas.
Advantage: Crude
Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
Australia, China Inked $41 bln Natural Gas Deal
A 50 billion Australian dollar $41 billion deal for China to purchase Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests. For full story, click here
