The market appears to have blocked out the war in Gaza and for there to be a material disruption in oil supply,its effects would need to spread to the gigantic oil fields of Saudi Arabia,Iraq or Iran.
A US law firm claims that BP has used CSIRO research it was allowed to vet in its defence against lawsuits launched over injuries allegedly caused by the world’s largest oil spill.
Earnings from energy and mineral exports reached record highs in the last financial year. The ATO says a crackdown helped increase oil and gas tax payments.
Woodside chief executive Meg O’Neill endured stern questioning at the company’s annual investor day on Wednesday,especially over Woodside’s free cash flow outlook,which has slipped as oil prices retreat from their war-fuelled highs.
Predicting the movement of oil prices is a slippery business,but punters make millions betting on just that.
The Australian sharemarket clawed back some of Monday’s losses after Wall Street advanced overnight ahead of a week of key economic data.
The International Energy Agency predicts peak demand for oil,gas and coal within this decade. It would be grim news for major fossil fuel exporters like Australia.
The prediction,which has stirred controversy among oil producers,is a sign of a sweeping transformation in the global energy landscape.
The deal comes just weeks after Exxon Mobil’s $94 billion takeover of a shale company as oil companies bet that fossil fuels will remain central to the world’s energy mix for decades ahead.
The company’s chief executive Meg O’Neill wants the federal government to overhaul its environmental approval process for offshore gas developments.
ExxonMobil is buying Pioneer Natural Resources,a major US shale oil and gas producer. Will that add to global emissions or could it,perhaps,even lower them?