AAP

Rio Tinto has blamed floods and cyclones for a worse than expected 16 per cent drop in iron ore production from the record set in the December quarter.

Chevron says it is in talks with other gas producers about using its Wheatstone liquefied natural gas processing hub offshore from Western Australia.

Uranium miner Energy Resources of Australia says earnings in 2010/11 will be lower than the prior year, along with lower production and sales.

Energy giant Royal Dutch Shell says it's on track to this year make a final investment decision for the world's first floating liquefied natural gas project, offshore from Western Australia.

The federal government's planned carbon tax does not recognise the abatement credentials of liquefied natural gas and will severely hamper growth in the sector, opposition energy and resources spokesman Ian Macfarlane says.

Climate Change Minister Greg Combet has outlined a more detailed timeline for implementing a carbon price with Treasury modelling due to be completed mid-year.

African Petroleum Corporation has announced it will raise $250 million from institutions and sophisticated investors in a new share sale as the company aims to become West Africa's biggest independent oil explorer.

Newspaper advertisements for skilled workers rose by 1.7 per cent across Australia in April, but in Western Australia skilled job ads were down 1.5 per cent.

Consumer sentiment has risen at a slower pace in April as overseas turmoil weighed on confidence, a survey shows.

Australian shares were little changed in early trading, as materials and energy stocks fell after commodities including base metals, gold and oil declined overnight.

The Australian dollar was trading lower this morning, as commodity prices drop and investor risk appetite wanes.

Labor to ease the carbon squeeze– The Aus; ASIC raises hurdles on share listings– The Fin; BHP gave me an assurance: Barnett– The Fin; Alcoa trucks in water as drought hits– The West; Nobel winner and Australian of the Year to fight funding cuts– The West

US stocks suffered heavy losses on Tuesday, dragged down by the materials and energy sectors.

The Australian dollar was more than one US cent lower as investors fled to save-haven assets following another aftershock in Japan and more concerns about its nuclear power safety.

Perth company Liquefied Natural Gas Ltd, through a wholly-owned Indonesian subsidiary, has lodged a compensation claim for US$70.9 million against Japan's Mitsubishi Corporation.

West Australian Premier Colin Barnett says he regrets comments made by his police minister about the treatment of homeless people in Perth during the commonwealth summit in October.

The Australian share market has closed sharply lower, pulled back by profit-taking on mining and energy stocks, amid fresh concerns about US growth prospects and the nuclear drama in Japan.

Leighton Holdings is having its credit rating reviewed by a second credit ratings agency a day after it forecast the first full-year loss in 25 years.

Treasurer Wayne Swan jets off to the US today for the G20 Finance Ministers' meeting in Washington, a trip he says will provide valuable insights as he prepares his May 10 budget.

The federal government should outline emissions reduction targets soon to give the business community certainty, a legal expert says.

Oil and gas companies can avoid opposition to their planned activities if they are up front in talking with the communities in which they wish to operate, an energy conference has been told.

The judge in Channel Seven's legal action against its former television executive James Warburton has chided Kerry Stokes for comments he made regarding the case yesterday.

Former West Australian MP and Bayswater mayor John D'Orazio has died after a short illness that affected his heart.

The federal government's plans for a single national regulator for the offshore petroleum industry have been backed by Vermillion Oil & Gas Australia.

Prime Minister Julia Gillard says the government remains committed to finding savings in the budget to bring it back to surplus, as scientists rallied against possible research spending cuts.

Fortescue Metals Group shipped 11.5 per cent less iron ore in the March quarter compared with a year earlier, as heavy rain hit operations.

The Australian sharemarket has opened lower, after a mixed lead from Wall Street.

Iluka Resources says sales revenue grew more than 50 per cent in the first quarter of calendar 2011, while production volumes were on target.

The Australian dollar was over half a US cent weaker this morning, on lower oil prices and following a recovery in the US dollar overnight.

Australia warned of China shale gas boom – The West; Skilled migrant push intensifies – The Fin; Browse progress good, says Ferguson – The West; Chinese backers find $US500m for Moly mine – The West; Single-sex clubs under attack in WA – The Fin

US stocks closed broadly lower on Monday in the final trading session before first-quarter earnings season gets under way.

The Australian market has opened lower on strong negative leads as offshore markets were spooked overnight by the crisis in Libya and poor data from China, the US and Spain.