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Energy

Yesterday

Decarbonising in the real world is more complex than with portfolios.

Global oil demand to reach its peak this decade, IEA says

“The transition to clean energy is happening worldwide and it’s unstoppable,” IEA executive director Fatih Birol said in the group’s annual world outlook.

  • Bloomberg News

This Month

US petrol prices have driven a surge in the country’s inflation.

Chevron to buy Hess for $84b in second oil mega-merger in weeks

The proposed deal raises the competition between Chevron, the No. 2 US oil and gas producer, and Exxon.

  • Reuters
Crude’s drop followed a plunge in gasoline futures.

Viva underperforms on Geelong refinery troubles

Repairs were expected to be completed by the end of September, but Viva is not finding it that simple to return to full-tilt production.

  • Elouise Fowler
The new SA Government-owned hydrogen plant and storage facility to be built in a $593m project by ATCO and BOC Linde is located just 6km from Sanjeev Gupta’s Whyalla steelworks. (pictured)

ATCO and BOC Linde win $593m SA hydrogen job, Forrest misses out

Fortescue Future Industries will not be part of the construction of the world’s largest hydrogen plant near Whyalla.

  • Simon Evans
Billionaire spat: Andrew Forrest and Kerry Stokes.

Forrest reignites media bias row with fellow WA billionaire Stokes

Andrew Forrest and Kerry Stokes were due to come face-to-face at a black tie charity event in Perth on Saturday night.

  • Brad Thompson
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Andrew Purcell, chairman of Melbana Energy, which has discovered a large oil field in Cuba.Source:

A one-time Macquarie banker claims he found oil worth $30b in Cuba

Little-known Sydney-based company Melbana began production on Wednesday at what could be a large oil field on the north coast of the Caribbean country.

  • Aaron Patrick
The takeover deal has been  accepted by Origin’s board and will now go before shareholders.

Why Origin takeover is not a done deal

Arguments over the proposed takeover of Origin Energy demonstrate the confusion about energy transition. What is clear is that the business is performing well.

  • Jennifer Hewett
Origin CEO Frank Calabria and chairman Scott Perkins were heralded for opting to sell the company for $18.7 billion in March. Now they have to re-convince some shareholders.

Origin Energy court date sets up Brookfield showdown

The board’s decision to sell for $18.7 billion will be backed by its independent expert, but shareholders are gearing up for a round of robust talks.

  • Anthony Macdonald
Ryan Stokes has been appointed interim CEO of Beach Energy.

Stokes appointed interim chairman of Beach Energy

The Seven Group boss put the oil and gas company on notice after joining the board in July, ousting the CEO and telling management he wanted to see a turnaround.

  • Elouise Fowler
A pumpjack operates on an oil well in the Permian Basin in Crane, Texas.

Exxon’s historic shale deal signals new wave of oil mergers

The US shale sector is a hotbed of consolidation talk as cash-rich oil companies compete for the best drilling portfolios in the Permian Basin.

  • Kevin Crowley, David Wethe and Mitchell Ferman
Energy Minister Chris Bowen at the Energy and Climate Summit

Bowen and D’Ambrosio insist targets should be hard to achieve

Chris Bowen says the renewable energy targets have to be difficult to meet or there’s no point having them. But what is Plan B if - as is likely - they are too hard?

  • Jennifer Hewett
Jason Crusan, VP New Energy Solutions, Woodside.

The hydrogen market has evolved but customers still rare as ‘unicorns’

Liquid hydrogen is likely to be the “first mover” says Woodside, but customers are “unicorns,” says Peter Colman, the oil and gas major’s former CEO.

  • Elouise Fowler and Angela Macdonald-Smith
Fortescue green energy boss Mark Hutchinson.

Fortescue hunting more green energy after signing 25-year supply deal

The mining giant is a step closer to its Gibson Island green ammonia project after committing to a 25-year renewable energy offtake deal with Genex Power.

  • Updated
  • Brad Thompson
A parliamentary inquiry has recommended the controversial HumeLink project go ahead with overhead power lines, despite the opposition from community.

Transgrid overcooked cost of alternate HumeLink plan, residents claim

A residents group agitating for major poles and wires to be buried underground says the energy giant overstated the cost by more than 50 per cent.

  • Samantha Hutchinson
Hopes are high for green hydrogen exports from Australia.

Australia’s window of opportunity narrowing for hydrogen dominance

There’s no shortage of hydrogen hype, but how realistic are expectations that Australia can become a green hydrogen superpower?

  • Ronald Mizen
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Japan and Australia pledge deeper ties on energy, climate

Japan’s trade and energy minister met three senior Labor ministers on Sunday to discuss the effect of Australia’s emissions rules on future LNG projects.

  • Michael Smith, Elouise Fowler and Ronald Mizen
Australia supplies almost half of Japan’s liquefied natural gas.

Resource-poor Japan courts Australia 50 years on

As risks increase in LNG producing countries, Japan needs Australia more than ever despite concern over green energy policy changes.

  • Michael Smith
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Labor gas policy raises supply fears from Japan

The former head of one of Japan’s biggest energy companies says supply disruptions to Australian LNG would have a “huge impact” on millions across the country.

  • Michael Smith
Crude’s drop followed a plunge in gasoline futures.

Oil’s slump deepens below $US85 with demand under the microscope

Crude oil prices retreated sharply amid worries about the effect of elevated interest rates on the global economy,

  • Julia Fanzeres and Elizabeth Low
The drop in oil came even as OPEC+ leaders Saudi Arabia and Russia committed to sticking with production curbs of more than 1 million barrels a day until the end of the year.

Oil sinks 5pc in biggest one-day drop in more than a year

Early signals that demand is flagging exacerbated markets’ unease over the prospect of a punishing stretch of high interest rates.

  • Updated
  • Julia Fanzeres