Energy

Treasurer Mike Nahan has said encouraging private investment in the Pilbara electricity grid could reduce its excess capacity and also energy prices in the north west, at a Committee for Economic Development of Australia lunch today.

Woodside Petroleum has agreed to buy ConocoPhillips' stake in three deepwater oil blocks off the coast of Senegal for $US350 million ($A460 million).

Australia’s enormous LNG investment boom is starting to pay trade dividends, with exports up 18.5 per cent in the month of June to 3.6 million tonnes, largely to Japan and South Korea.

Transerv Energy will be upping its interest in the Perth Basin after it inked a farm-in and drilling agreement with Norwest Energy for the offshore Xanadu Prospect, and will buy a 4.7 per cent stake in the junior for $200,000.

Premier Colin Barnett has softened his position on the proposed privatisation of Western Power, saying it could be used by Labor as a scare campaign in the state election next year.

Shares in engineering and construction business Valmec surged after the company announced plans to suspend dividend payments to preserve capital for its expansion plans.

Oil Search's attempt to consolidate its holdings in gas-rich Papua New Guinea could be delayed after a rival bid emerged to its near $3 billion bid for New York-listed InterOil.

Chevron evacuated workers from its Gorgon project on Barrow Island this morning due to a gas leak.

Dampier to Bunbury Natural Gas Pipeline owner-operator DBP says pricing for the gas transmission line set by the Economic Regulation Authority today won’t be enough to earn a rate of return suitable for prevailing market conditions.

Subiaco-based Australis Oil & Gas has lodged its prospectus for a $30 million initial public offering, with plans to list on the ASX within a month.

Energy giant Woodside Petroleum will proceed with development of its $US1.9 billion ($A2.6 billion) Greater Enfield oil project in the Carnarvon Basin.

Drilling services company Imdex has continued to refresh its board, with corporate adviser and company director Anthony Wooles recruited to replace long-serving chairman Ross Kelly.

Legislation to enable regulation of Western Power to transition from WA's Economic Regulation Authority to the independent national energy regulator has been introduced to state parliament.

Diversified construction and maintenance group EC&M has emerged as the private company that has entered into a partnership agreement with energy technology company Enerji.

A panel of industry, government, science and communty members will today release its two year marine science implementation strategy, aiming to make the state a global hub in the discipline and to encourage collaboration between industries such as offshore energy and fisheries.

Cottesloe-based Triangle Energy Global has emerged as the new buyer for AWE’s majority stake in the Cliff Head offshore oil project in the Perth Basin.

Chevron’s outgoing Australian boss has called for improved industry collaboration and better industrial relations policies to support future growth, but has also signalled new ‘greenfields’ LNG projects are low on the priority list.

New technology is leading to a dramatic reduction in per capita power use around Australia, a new report has found, but WA has bucked the trend, as the only state where residential energy consumption is expected to increase over the coming decade.

Oil and gas company AWE has found a new buyer for its majority stake in the Cliff Head offshore oil project, after Elixir Petroleum was unable to complete a previously announced deal.

Former Woodside Petroleum and Beach Energy executive Rob Cole has been appointed chair of the Southern Ports Authority.

Iron ore miner Mineral Resources has added another string to its bow, taking a 19.3 per cent stake in domestic gas supplier Empire Oil & Gas, a week after the company increased its slice of the Mt Marion lithium project.

Shares in marine services business MMA Offshore were lower after the company warned of a profit reduction and no reprieve in the coming financial year.

Perth-based Energy Made Clean has completed its first major project under its alliance with New Zealand power utility Infratec, with the installation of a battery energy storage system (BESS).

Sandfire Resources has announced completion of a $40 million solar power facility at its DeGrussa copper-gold mine, with the plant achieving full generation capacity.

The boss of Woodside Petroleum has lambasted the gas industry for being complacent and for losing ground to rival fossil fuel players.

A successful Oil Search takeover of Interoil will be one factor that could help trim billions off the cost of LNG projects in Papua New Guinea in the next two decades, according to consultants Risc.

Perth-based Energy Made Clean has struck a partnership deal with Aboriginal corporation Eastern Guruma for the rollout of solar power stations and solar water pumps in northern Australia.

Engineering and construction group Valmec says it has won $11.8 million worth of contracts with several clients.

Australia’s national LNG production capacity is nearing 50 million tonnes per annum, as Santos today brought Train 2 online at its Gladstone project.

Programmed Maintenance Services has returned an annual net loss as a result of lower demand for marine services following the steep drop in oil and gas prices.

Tap Oil says it expects to resolve outstanding disputes with a dissident shareholder after announcing a major restructure that will see the current chairman retire and three new directors join the board.

Perth-based contractor Decmil Group has entered into an agreement with BG Group for the provision of its services in the Surat Basin.