Shell is seeking to build its presence in the Australian power sector, launching a $617 million takeover bid for Australia's second-largest energy retailer that looks likely to be accepted.
Local energy producer Empire Oil & Gas has entered voluntary administration today, two weeks after receivers took control of subsidiary Empire Oil, which operates the company's key Perth Basin assets.
Mineral Resources has bolstered its new relationship with Empire Oil & Gas, offering a $15.1 million facility to replace a previous deal with Viburnum Capital.
The Australian Competition and Consumer Commission is understood to be investigating Synergy following predatory pricing complaints from several players in the state's electricity market.
Energy Minister Mike Nahan's announcement earlier this week of the government's planned introduction of greater competition to the electricity sector has already spurred the growth prospects of one market entrant.
Empire Oil & Gas has kicked off a $15.7 million capital raising to fund new drilling at its flagship Red Gully North project and evaluate other projects in the Perth Basin near Gingin.
The Anglican Church's move to distance itself from fossil fuel-related industries could have implications for its CBD property portfolio, with up to nine resources sector companies that lease office space across the church's commercial buildings.
As the state's review of its electricity market seeks to turn the system on its head, investors protecting their interests have argued strongly to keep Western Australia out of the national electricity market (NEM).
The issue of electricity prices not surprisingly has emerged as a hot topic of discussion following the government's recent announcement of a statewide review of the electricity market.
The new directors of Empire Oil & Gas have admitted the company's financial position is worse than originally anticipated, with an initial review revealing a raft of performance issues at its flagship Red Gully gas and condensate processing facility.
Empire Oil & Gas' new management team has taken the company's former directors to court in a bid to recover funds used to bankroll defamation proceedings against Empire shareholders.
ERM Power's Kent Quinlan has been seconded to the role of interim chief executive at Empire Oil & Gas as they look to permanently fill the role in the near future.
Empire Oil and Gas shareholders showed their overwhelming lack of support today towards the company's recently ousted directors by lodging a massive vote against the remuneration report.
Empire Oil & Gas has conceded defeat in its bid to stave off efforts by major shareholder ERM Power to overthrow its board, saying it now believes ERM's proposal is the best way forward for the company.
Empire Oil & Gas says a move by its biggest shareholder ERM Power to replace Empire directors with its own representatives has compromised its relationships with contractors and caused disruption to the business.
ERM Power says it will seek to recover legal costs paid by Empire Oil & Gas for its directors' personal legal actions against shareholders as a showdown between the two companies looms at a general meeting next month.
The war of words between Empire Oil & Gas and its joint venture partner ERM Power continues, with Empire directors warning shareholders that ERM lacks the experience needed to guide an oil and gas company.
Empire Oil & Gas is facing a board upheaval with its biggest shareholder and joint venture partner ERM Power calling a meeting of shareholders to consider removing Empire's executive chairman and two other directors.
Energy company ERM Power has disclosed the mounting cost of its dispute over the construction of the Neerabup power station, with arbitration expenses alone hitting $4.5 million.
Brisbane-based power generator ERM Power has gotten the nod from the Western Australian environmental watchdog to build a $500 million power station and gas pipeline at Three Springs in the Mid Wes
WA electricity consumers are poised to gain a fresh window on the internal workings of the local electricity market following the successful close of Queensland-based power generator ERM Power's $100 million initial public offer.
ERM Power is keeping quiet about its intentions over the potential sale of Babcock & Brown Power's interests in two Western Australian power stations to ANZ.
AVIVA Corporation and ERM Power have announced they will conduct a joint pre-feasibility study on a 400-megawatt coal-fired power station in the Mid West region of WA.
