Indian business couple Pankaj and Radhika Oswal paid two advisers $US26 million ($A34.5 million) in hush money to hide what was really going on at their Australian fertiliser business, a court has heard.
If Woodside Petroleum is ever looking for a corporate slogan it could borrow a saying from the Dutch philosopher Erasmus: “in the land of the blind the one-eyed man is king”.
Norwegian company Yara International has moved to full ownership of the giant ammonia plant built by Pankaj Oswal in the Pilbara, paying a price that reflects the expected impact of higher gas prices in future.
SPECIAL REPORT: The domgas market is going through a period of structural change, but history has lessons for those businesses that know where to look.
Downer has terminated its contract with Spanish construction company Tecnicas Reunidas on the Burrup ammonium nitrate project, joining a string of contractors to be hit by contractual disputes on big projects over the past year.
If Woodside Petroleum's one-for-four share swap bid for rival LNG producer Oil Search was plan A, then plan B, when it comes, had better be a beauty, because so far no-one apart from Woodside management can say anything positive about the proposed takeover.
Woodside Petroleum has spent the past 60 years focused on the development of its own projects in Australia, but in the space of one year, two major takeover deals collectively worth $15 billion look set to reshape the Perth-based energy giant.
Energy giant Woodside Petroleum is considering growth opportunities in Papua New Guinea, announcing today it was evaluating a takeover offer for Oil Search through an all-scrip deal valued at more than $11 billion.
The new owners of Quadrant Energy have spoken to Business News about how the $2.7 billion acquisition came together and their plans for the oil and gas producer.
Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.
Woodside Petroleum has provided some telling insights into how it plans to achieve $800 million in productivity gains by the end of next year; as well as chopping 600 jobs, it has slashed the number of vendors supplying its Australian business from 3,000 to 800.
Explosives and chemicals manufacturer Orica has posted a 3 per cent dip in half-year profit to $211 million after being affected by reduced demand for its products in the mining sector.
Mount Gibson Iron has moved to establish a logistics base on Koolan Island, in partnership with Qube Holdings, to service the offshore oil and gas industry.
Perth-based oil and gas services company DownUnder GeoSolutions (Dug) has seized the chance to capitalise on what may be Australia's biggest oil find in decades by commissioning the nation's largest seismic survey.
Lower oil prices and sales coupled with a natural disaster contributed to a 20.1 per cent slide in Woodside Petroleum's revenue for the March quarter, but wrapping up its Apache Corporation asset purchase lifted contingent reserves by 151 per cent.
Woodside Petroleum has closed its $US854 million ($A1.1 billion) purchase of Apache Corporation's interests in the Kitimat LNG project in Canada, a week after finalising the WA component of the sale.
A new supply deal struck this week by Western Australia's largest buyer of domestic gas, Alcoa of Australia, has confirmed the availability of gas for customers prepared to pay the going price.
Macquarie Capital and Brookfield Asset Management have agreed to buy Apache Corporation's Australian oil and gas operations for $US2.1 billion ($A2.7 billion), with the deal underpinned by a long-term gas sale agreement with Alcoa.
Woodside Petroleum has completed the purchase of Apache Corporation's interests in the Wheatstone and Balnaves projects, as speculation continues over the ownership of Apache's remaining Australian assets.
Multinational oil and gas service providers have set up in WA for the long haul, as the state searches for the best way to enhance its competitive advantage.
The consumer watchdog has given the green light to Woodside Petroleum's proposed purchase of oil and gas assets from US energy company Apache, after concluding it would not have a significant effect on the domestic gas market.
BHP Billiton and CSIRO have announced they will spend $5 million over five years in a partnership to increase the scientific community's understanding of the Ningaloo Reef.
The North West Shelf's six joint venture partners have yet to declare their hand as a deadline for ending their joint gas marketing agreement draws near.
Astron Environmental Services has merged with its smaller, associated business, Astron Soil and Water, as the Perth group adapts to a tougher market and tighter margins.
US energy company Apache Corporation's chairman, president and chief executive Steven Farris announced his immediate retirement today, leaving current chief financial John Christmann to fill the role.
The consumer watchdog is probing Woodside Petroleum's $US2.75 billion purchase of oil and gas assets from US energy company Apache, over concerns the deal could affect the supply of wholesale gas in the Western Australian market and lead to higher gas prices.
Perth-based Carnarvon Petroleum says it will invest about $10 million to acquire 3D and 2D seismic data, which will allow the company to expand its search for oil and gas at its Phoenix project off the Pilbara coast.
Asciano subsidiary Patrick is looking to expand its operations at the port of Dampier, after announcing the purchase of a floating wharf that US company Apache Energy is close to completing.
The international stage has helped this year's local business and political leaders stand out from the pack – including our Person of the Year, Richard Goyder.
Woodside Petroleum has substantially reshaped its project portfolio after buying a minority interest in Chevron's half-built Wheatstone LNG plant, postponing its planned Browse LNG project and acquiring a stake in a Canadian LNG development.
Santos has called on the state government to provide more certainty on its domestic gas reservation and offsets policies, to encourage new investment in ‘domgas' supplies.
Last month's huge oil discovery off the Pilbara coast, which could be the largest local find in 30 years, has already provided West Perth junior Carnarvon Petroleum with a significant boost to its share price.
