WA drives Alcoa $US4.1b buy of South32 aluminium business
The US company will have a monopoly over WA bauxite mining and alumina refining, which it plans to operate for 40 years.
Offshore unions have welcomed a deal with Inpex that adds two-weeks of isolation to the roster and gives half-pay to stood-down workers but slammed what they say is a Woodside proposal to work offshore for 12 weeks straight.
Woodside has told investors it can afford to bury CO2 from its Browse LNG project just months after telling regulators it was a "high-risk, high-cost" option.
Woodside had planned for 2020 and 2021 to be years of growth but now the Scarborough and Browse LNG projects are deferred and $US20.4 billion slashed from this years' budget as it joins its peers in survival mode.
Shell's Prelude floating LNG, already besieged with safety and reliability issues, has produced 2.3 million tonnes of greenhouse gases for one cargo of LNG.
WA LNG producers Woodside and Chevron, beset by low prices and COVID-19 work restrictions, are maintaining dividends to shareholders and gas to customers as they shed workers, with unions describing Woodside’s actions as “brutal, cold, and unnecessary.”
The iron ore price that had held up in the economic chaos of 2020 is beginning to fall, and the worst case of $US50 a tonne would shatter government revenue just when it is needed the most.
Delay to Woodside's big growth bet on the "Burrup Hub" Scarborough and Browse LNG projects looks more likely with Woodside warned not to overspend as its partners trim their budgets.
Woodside has heavily pruned its critical offshore maintenance teams leaving casual workers facing an uncertain future.
Woodside's Scarborough and Santos' Barossa LNG projects unlikely to happen this year as planned according to oil and gas experts Wood Mackenzie.
Casual workers taken off Ichthys offshore facilities by Inpex will be paid at least until next week under a standby deal similar to workers from the troubled Prelude LNG vessel.
Hazer's combination of two WA exports - gas and iron ore - to produce the clean energy products hydrogen and graphite has been supported by $9 million from the Federal Government.
Woodside risks LNG demand squeezed by cheaper renewables not lasting long enough for decent payback from its Scarborough and Browse projects.
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