Woodside tips in cash as Labor fights to get its employee into parliament
WA Labor has used the advantages of incumbency to raise $1.6 million since May, ahead of a by-election in the once safe seat of Secret Harbour.
Oil production in WA comes from condensate produced with gas for LNG plants, dedicated production vessels and until 2025, onshore wells on Barrow Island.
Woodside's own lack of maintenance means it cannot dispose of an 83m-long structure onshore as planned and will instead sink it to be an artificial reef near the Ningaloo Marine Park
The Government will spend $130 million to look after the Northern Endeavour in 2021 and has the oil and gas industry in its sights for the total bill of more than half a billion dollars.
Jadestone Energy is now two wells down at its Montara field in the Timor Sea where 75% of its production comes from but says it has the cash to work on both Montara and Stag in 2021.
Triangle Energy has six months to find a viable route to market for oil that now goes to BP Kwinana or its Cliff Head operation could become a liability for the Federal Government.
The effect of BP closing its Kwinana oil refinery after 65 years will be felt far and wide in the WA economy - especially among workers and other industries, but BP will do just fine.
The Government has 'screwed up' with the Northern Endeavour oil vessel says Sen. Rex Patrick and the loophole that might cost $370 million remains five years after it was spotted.
The burden on taxpayers from the failed Northern Endeavour vessel continues to grow - $10M in one month - while the Government decides what to do next.
The Northern Endeavor mess started with Woodside paying to rid itself of a rusty ageing asset, ended with a $362 million liability for the Government and in between was a regulatory shambles.
An eight year wait for ENI's Woollybutt oil field to be decommissioned and poor maintenance have caused subsea kit to surface and pose a danger to vessels.
Northern Endeavour operator UPS and original owner Woodside are the two biggest recipients of Government spend on the failed oil vessel.
North Sea expert recommends changes to stop a repeat of Woodside escaping a $360 million cleanup bill by paying a tiny inexperienced company to take an old rusty asset.
While the idle Northern Endeavour costs $4 million a month, Government and industry are still talking about how to keep the clean-up bill below a possible $230 million.
Every story straight to your inbox and the occasional round up of info and comment.