Australia’s oil and gas producers can no longer “kick the can down the road” with their huge decommissioning liabilities and there are calls for their shareholders to be fully informed about the risks and costs they are exposed to.
Santos,already faced with a court-ordered stop to drilling its Barossa gas field,has now halted construction of an offshore gas pipeline after a regulator’s direction to check for Indigenous heritage along the route.
Santos ended 2002 with record $11 billion revenue but no timetable for resuming drilling its vital Barossa gas project that was stopped by the courts
Labor’s signature policy to cut climate pollution from heavy industry does nothing to stop new high-emissions projects like Woodside’s $17 billion Scarborough
WA will have one less gas supplier from May when the Devil Creek plant in the Pilbara closes.
Aluminium giant Alcoa and Norwegian fertiliser manufacturer Yara have cut production in WA after problems at Santos and Chevron gas plants.
Problems at three Santos and Chevron gas plants have dramatically slashed the gas supply to WA but power supplies are expected to be unaffected.
Australia’s offshore oil and gas industry is waking up to a new reality beset with higher regulatory hurdles and plunging political and community support.
As the gas sector weighs up its next steps in response to the federal government’s controversial market intervention,Resources Minister Madeleine King said companies should work with government,not embark on a costly advertising blitz or legal action.
One of the world’s largest gas lobby groups has mistakenly published confidential papers revealing its messaging plans to keep the fossil fuel’s social licence.
Anthony Albanese has intensified a debate about state power and his willingness to impose tough laws on business.