Woodside Petroleum (Seite 14)

[Oginvest]

Energy stocks lift Australia shares on oil strength; Woodside Energy jumps

Aug 30 (Reuters) - Australian shares rose on Tuesday, led by gains in energy stocks on strong oil prices, while the country's biggest independent gas producer Woodside Energy Ltd posting a five-fold jump in first-half profit also aided sentiment.

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Shares of Woodside Energy Group WDS.AX climbed 3.8% to hit a more than three-year high, after the independent gas producer tripled its interim dividend payout after posting a five-fold jump in its first-half profit.

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https://www.nasdaq.com/articles/energy-stocks-lift-australia…

[E.S.T.]

Int.-Div.. 1,09 U$/S, pay 06.10.22

https://www.woodside.com/media-centre/announcements?category…
https://www.woodside.com/docs/default-source/asx-announcemen…
Net profit after tax
$1,640 Mill. +417%

[Oginvest]

East Timor Expects Australia to Back Greater Sunrise Gas Development via Timor

East Timor is confident the Australian government will support plans for gas from the massive Greater Sunrise offshore field to be processed in Timor rather than Darwin, the country's petroleum authority head said on Thursday.

Greater Sunrise lies in waters between East Timor and Australia and holds an estimated 7.3 trillion cubic feet of gas which the Timorese urgently want to develop as the impoverished nation's main revenue source, the Bayu Undan oil and gas field, is set to stop producing this year.

East Timor's National Authority of Petroleum and Minerals President Florentino Ferreira said he expects Canberra will back its push to pipe Greater Sunrise gas to a proposed hub on the country's south coast to help ensure regional stability.

"It is strategically crucial to guarantee both political stability and security in the Timor Sea for Australia, Timor Leste and the region and of course to many of you, the operators in the Timor Sea," Ferreira told the NT Resources Week conference in Darwin.

He pointed to China's growing influence in the region as a source of concern to Canberra, particularly after Beijing recently signed a security pact with the Solomon Islands.

"We have seen how some distractions are happening right in your neighboring countries with the cooperation between Solomon (Islands) and China," he said.

While the two countries are discussing a regulatory and fiscal framework for developing Greater Sunrise, a key obstacle to development is agreement with the project's operator Woodside Energy on where the gas should be piped.

Woodside, which has long argued the gas can only economically be piped to Darwin to produce liquefied natural gas (LNG), said on Thursday it was currently focused on finalizing a new production sharing contract.

Any development plan would need to be assessed against the criteria established in the Maritime Boundary Treaty, a spokesperson said. The treaty would give East Timor 70% of the revenue if gas is piped to Timor and 80% if the gas is piped to Australia.

Ferreira noted that the country's proposed Tasi Mane south coast hub for Greater Sunrise is "currently subject to reassessment of its viability".

https://www.oedigital.com/news/498991-east-timor-expects-aus…

[Oginvest]

Pluto Train 2 Project to deliver economic benefits for Western Australia

Karratha, Western Australia, 24 August 2022 – Construction has commenced on the
Pluto Train 2 Project, a key milestone supporting jobs and economic growth in Western
Australia.

The Deputy Premier of Western Australia, the Hon. Roger Cook MLA, officially launched
construction on the project at a ceremony in Karratha today.

Pluto Train 2 will be the second liquefied natural gas (LNG) train at Woodside Energy’s
(Woodside) existing Pluto LNG onshore facility and will process gas from the Scarborough
development. The construction site for Pluto Train 2 is within the existing Pluto LNG
boundary.

The Pluto Train 2 Project will deliver significant economic benefits for Western Australia.
Woodside, as operator of Pluto Train 2 and Scarborough, has made commitments to the
Western Australian Government in its community development plans to support positive and
sustainable community outcomes in the Pilbara region.

Bechtel will execute the engineering, procurement, and construction of Pluto Train 2, which
will have an LNG capacity of ~5 million tonnes per annum. To continue to support Australia’s
domestic market, additional domestic gas infrastructure will be installed with capacity of
~225 Terajoules per day, equivalent to keeping the lights on for a year in about 10,000
households.

Woodside CEO Meg O’Neill said the start of construction on Pluto Train 2 was a key
milestone towards the delivery of the Scarborough Project, which would provide significant
long-term economic growth and local employment opportunities for Western Australia and
supply domestic and export markets for decades to come.

“Woodside is proud to build on the economic contribution that it has made over 35 years to
communities in Western Australia.

“Many opportunities will be realised in WA, providing a boost to long-term investment in
education and training, growing jobs and bringing work through the supply chain.

“Scarborough gas processed through an expanded and efficient Pluto facility will support
the decarbonisation goals of our customers in Asia,” she said.

The Pluto Train 2 Project will employ about 2000 people at peak in 2024, with a large
contingent of employees expected to be drawn from within Western Australia. Bechtel has
already engaged a number of local and Indigenous businesses to support delivery, with
more awards anticipated as the project progresses.

Bechtel Energy President Paul Marsden said Bechtel was pleased to start work on such an
important project for the Asia-Pacific region.

“We are proud to do our part to invest in local communities and improve the quality of life
where we work by creating jobs and opportunities, while also bringing greater energy
security for the region,” he said.

Bechtel has commenced site preparation, including office, crib hut and other facility
installation. Initial earthworks and activities in the laydown and storage areas will start up
before the end of 2022.

https://www.woodside.com/docs/default-source/media-releases/…

[E.S.T.]

Half-Year 2022 Results, 30 Aug 2022

https://www.woodside.com/media-centre/events?pageNo=2

[Oginvest]

Column: Australia's renewable energy ambitions dwarfed by coal, LNG juggernaut

LAUNCESTON, Australia, Aug 11 (Reuters) - One of the refrains of the environmental lobby is that Australia is extremely well-placed to become a renewable energy superpower, and that this will replace the loss of revenue from coal and natural gas exports.

The problem is that only one of the two above assertions is accurate, namely that Australia is in pole position when it comes to many of the minerals that will be critical to the energy transition.

These include lithium, where Australia is already the world's top producer, as well as copper, nickel, zinc and other metals.

Even iron ore can be viewed as vital to moving the world from fossil fuels to renewables, given the essential role of steel in building out electric grids, power networks and wind turbines.

But the idea that Australia can compensate ending the export of coal and liquefied natural gas (LNG) by boosting output of energy transitions metals is somewhat fanciful.

It would take an absolutely astonishing increase in production of lithium and other renewable energy metals to come anywhere close to the current level of export revenue derived from thermal and coking coal, as well as LNG.

The Australian government's commodity forecasts give an indication of the scale of the challenge.

..

>> https://www.reuters.com/markets/commodities/australias-renew…

[Oginvest]

Australian pension fund dumps $133 mln in oil, gas stakes in carbon neutral push

MELBOURNE, Aug 4 (Reuters) - Australian pension fund NGS Super on Thursday said it had sold all its holdings in oil and gas companies, worth A$191 million ($133 million), in a drive to achieve a portfolio with net zero carbon emissions by 2030.

It is the first of Australia's 12 low-fee "industry" pension funds to totally divest from fossil energy companies.

Most of NGS Super's oil and gas holdings were in Australia's top two independent gas producers, with A$75 million worth of shares in Woodside Energy Group (WDS.AX) and A$50 million in Santos Ltd (STO.AX).

"We're divesting from oil and gas companies, in particular in the Australian context Santos and Woodside, as we've identified those companies as being at risk of becoming stranded in the future as the world decarbonises," NGS chief investment officer Ben Squires said in a video on the fund's web site.

Other companies it sold out of included ConocoPhillips (COP.N), Hess Corp (HES.N) and Beach Energy (BPT.AX), expanding its fossil fuel restrictions to all oil and gas producers and explorers.

NGS Super previously excluded investments in companies that generated more than 30% of revenue from mining or distributing thermal coal or burning it for electricity generation.

Squires said while the fund had found ways to take advantage of short-term rallies in oil prices to boost returns while not holding oil and gas companies, it made sense to build a portfolio with companies that had clear plans to decarbonise.

NGS Super, a pension fund for those in the education and community sectors, holds A$13 billion, making it one of the smaller of Australia's 12 industry pension funds. However, it has the most ambitious carbon neutral target among them.

($1 = 1.4382 Australian dollars)

https://www.reuters.com/business/sustainable-business/austra…

[Oginvest]

Australia's Woodside to invest $10 mln in Indian methane recycling firm

July 11 (Reuters) - Australia's Woodside Energy Group WDS.AX said on Monday it would invest $9.9 million in a greenhouse gases recycling firm and potentially use the Indian company's technology to recycle methane in its facilities.

Woodside said the technology of India's String Bio could also be deployed at third-party sites.

The investment is a part of Woodside's goal to spend $5 billion on new energy and low-carbon services by 2030, in line with a global push for cleaner energy,

Woodside is armed with cashflow after completing its $28 billion merger with BHP Group's BHP.AX petroleum arm in June.

https://www.nasdaq.com/articles/australias-woodside-to-inves…

[Oginvest]

Trinidad boosts LNG exports to Europe, rushes more gas output

PARAMARIBO, June 28 (Reuters) - Trinidad and Tobago's sales of liquefied natural gas (LNG) to Europe have doubled so far this year to 40% of the total, Energy Minister Stuart Young said on Tuesday, as demand continues growing amid a reduction of Russian gas supplies.

Trinidad's LNG exports declined to 7.9 million tonnes last year after the country, the largest producer of the fuel in Latin America, had to shut one of its flagship project's liquefaction trains due to lack of natural gas output.

The government is pushing for gas producers, including Shell Plc, BP (BP.L) and Woodside Energy , to bring new offshore production online later this year. But a decision has not yet been made on whether to restart the inactive LNG train, the minister said on the sidelines of an oil conference in Suriname.

"(LNG) exports are expected to increase this year. There are important conversations taking place on how to assist the rest of the world, including Europe, by increasing LNG output. We just need the gas," Young told Reuters.

Trinidad's gas output has dwindled in the last decade, according to the BP Statistical Review of World Energy, amid obstacles to developing its expensive offshore reserves. The country is planning offshore, shallow-water and onshore licensing rounds through 2023 to reverse the decline.
NEW PRODUCTION

In parallel, Woodside's Ruby project is expected to deliver 80 million cubic feet per day (mmcfd) of gas, another 600 mmcfd would come from BP's Matapal and Cassia compression projects and Shell's Barracuda and Colibri areas would produce a combined 450 mmcfd.

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https://www.reuters.com/business/energy/trinidad-boosts-lng-…

[Oginvest]

PetroChina may sell Australian, Canadian assets to stem losses - sources

PetroChina's plan follows a similar strategic shift by smaller state peer CNOOC Ltd , which was preparing to exit its operations in Britain, Canada and the United States because of concerns the assets could become subject to Western sanctions.

The sales follow an internal review of PetroChina's global portfolio that began last year, the two sources said, declining to be named as the discussions are not public.

Unlike CNOOC's sales, PetroChina's divestitures are driven more by the assets' disappointing economics than any fear of U.S. sanctions as it does not own any oil and gas assets in the United States,though political strains with Australia and Canada also played a part, they said.

The state oil and gas major hopes to sell some of these assets, which have incurred billions of dollars of losses and are in areas where the company cannot easily compete, in the next two years, the sources said.

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For Browse, partners including BP, Shell and Japan Australia LNG have spent over $100 million on development studies since PetroChina bought into the project, including a plan scrapped in 2016 to set up a $30 billion floating liquefied natural gas (LNG) project.

They are now looking at a $22 billion plan to use the field to feed the Karratha Gas Plant (KGP) in northwestern Australia as that plant's original fields dry up.

Browse operator Woodside has said the project will only go ahead if the partners can come up with an economically viable carbon capture and storage solution and reach a tolling agreement with the KGP owners.

But that lower cost plan doesn't appeal to PetroChina, said one of the sources.

"PetroChina foresees great uncertainties ahead, being the smallest stake holder and has little leverage along the value chain as it has no ownership in the downstream KGP plant," the source said.

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https://au.lifestyle.yahoo.com/exclusive-petrochina-may-sell…