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.
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.”
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.
Woodside risks LNG demand squeezed by cheaper renewables not lasting long enough for decent payback from its Scarborough and Browse projects.
The WA Government wants to lure industry to WA with cheap gas just as the oil price plunge puts further supply from Woodside's Scarborough and Browse projects in doubt.
The first bill of $10 million bill is due for the failed Northern Endeavour as it is revealed that Woodside's sale of the vessel four years ago required no government approval.
Chevron boss Mike Wirth is not distracted by renewables as he pushes for more and lower cost production and looks to move gas through Woodside's Scarborough project.
If the Federal Government had been alert the financial failure of the Northern Endeavourur would not have been a surprise. Now Canberra has a huge bill for its omission.
Woodside buried deep in a huge environmental approval report for Browse LNG a risk it may have to buy massive amounts of carbon offsets.
Woodside's environmental approval submission for its $US20.5B Browse LNG project shows negligible efforts to rein in carbon emissions.
Woodside chief executive Peter Coleman told investors his Browse and Scarborough LNG projects stood up with a $US40/t carbon price, but the fine print was a different story.
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