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.
The Perth-based LNG specialist operates the North West Shelf and Pluto LNG projects and is developing the Scarborough and Browse fields. It also has a 50 per cent stake in ExxonMobil's Bass Strait operation and substantial interests in the US and Mexico.
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.
BP, unlike Chevron, remains committed to Woodside-operated North West Shelf LNG as it waits to drill nearby Ironbark, but Browse is unlikely to meet its investment criteria.
Chevron's slice of the North West Shelf LNG project is touted as ideal for infrastructure investors. It is the opposite - highly risky, complex and dysfunctional.
Northern Endeavour operator UPS and original owner Woodside are the two biggest recipients of Government spend on the failed oil vessel.
Woodside has invested in two existing green hydrogen projects chasing Federal funds as it battles changing markets and community concern about climate change.
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.
Cost, climate concerns and delay have killed Woodside's Browse LNG project and now it must negotiate with its old foes, the North West Shelf partners, to ensure Scarborough is developed.
Hundreds of 7000-year-old Aboriginal artefacts found off the Pilbara coast highlight a new issue for oil and gas to maintain its social license, with Woodside's Scarborough project at the forefront.
Woodside looks at gas to ammonia to fuel coal-fired power stations as concerns grow about the viability of LNG mega-projects.
Santos is now the biggest supplier of gas to WA and the future may depend on the Perth Basin after the State's almost four decades of reliance on Australia's first LNG plant.
Peter Coleman's challenges: an ageing plant, high cost gas, partner churn and global forces making the LNG game tougher than anyone envisaged a few years ago.
If Woodside's argument that a reef's environmental benefit outweighs 400 tonnes of plastic in the ocean wins over NOPSEMA then leaving everything on the seabed could become the default option for Australia's oil and gas players.
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