Santos' decommissioning liability matches a quarter of its $22b value, but its disclosures to investors fared poorly against the latest accounting standards, according to an international survey.
Australia's biggest oil and gas producer has posted record production and cut costs, but weak fossil fuel prices have weighed on profits
Investors beware: after spending more than $40 million in the Canning Basin, the US-owned company's continued pursuit of remote gas appears to be throwing good money after bad.
The US firm is cleaning up caustic liquid after a power loss and working to restore full production at its largest alumina refinery.
An unexpected disruption to gas supply at Alcoa's Pinjarra refinery on Tuesday morning triggered a loss of power and numerous spills of caustic liquid at the refinery with a return to full production expected to take about a week.
An Alcoa spokesman said the incident impacted process flow, and clean-up of the spills commenced immediately.
"One worker came into contact with a small amount of caustic material and immediately returned to work after onsite medical assessment," he said.
Pinjarra is Alcoa's largest alumina refinery, contributing 44 per cent of the $16 billion company's operating capacity.
Peter Milne
A spokesman for the WorkSafe petroleum safety and dangerous goods section said Alcoa reported the incident immediately.
"The spill was contained within the bunded area, and once power was restored, the discharge was returned to the system," he said.
"One worker received a minor injury and WorkSafe is making enquiries into this issue."
Alcoa is working to restore refining operations at the site investigating the cause of the incident, which occurred a year after five workers at the refinery were injured in another spill, with two requiring hospital treatment.
It is understood from sources not permitted to speak to the media that a return to full production is expected to take a further seven to ten days.
In June, the US aluminium specialist ended production at its oldest WA refinery in Kwinana, citing poor returns at the 61-year-old facility.
Update: Reference to 2023 spill incident added.
The US miner illegally destroyed the habitat of endangered black cockatoos for six years.
Chief executive Bill Oplinger told Wall Street the miner had responded to all 60,000 comments on its WA expansion plans—in fact, it responded to fewer than 10, and some were unacceptable.
The WA government will soon decide whether Black Mountain Energy can frack 20 wells near the Kimberley's Fitzroy River, but promised measures to protect the environment and the rights of local people are not yet in place.
Alcoa chief executive Bill Oplinger told Wall Street the US aluminium specialist could take strong action to boost profits from alumina, most of which it refines in Western Australia.
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