News Articles for Wood Mackenzie

Mining giant BHP will scale back its Yandi iron ore mine after extracting years of extra life out of the 34-year-old deposit.

An experienced corporate lawyer has called for limits on lawfare to curb the power of spurious cases to meddle with project approvals.

Every cloud has a silver lining and Dollar Bill reckons silver IS that silver lining right now. Once considered a poor man's gold, silver is poised to take its place in the sun, having quietly tracked the gold price skywards. Sun Silver provided a poignant example last week when its 20c IPO hit the boards at 50c before marching to a 75c high.

Western Australia's move away from coal-fired power will push the state into a gas supply shortage in the early 2030s, according to new analysis from Wood Mackenzie.

The next three weeks will be crucial to iron ore's fortunes as cash-strapped Chinese steel mills grapple with tight profit margins and a contracting domestic property sector.

Chevron's proposed US$60 billion (A$94 billion) acquisition of producer Hess Corporation has been hailed as the acceleration of a new era of global oil megamergers.

Recent modelling from Wood Mackenzie shows underground mines will bear the highest cost in reducing its emissions under the revised safeguard mechanism scheme.

A roadside geochemical sampling campaign at White Cliff Minerals' Hines Hill rare earths project about 200km from Perth in WA has lit up a host of priority target areas over its roughly 570 square kilometre ground position. The campaign was headlined by a specimen running a maximum value of 930 parts per million total rare earth oxides and the company is now eyeing 10 key areas for immediate follow-up.

Mineral explorer Godolphin Resources has strengthened its burgeoning rare earths portfolio with the acquisition of two exploration licences in New South Wales and Queensland. The company picked up the ground after sifting through publicly available geological data and says it could commence boots on the ground exploration as early as January 2023.

ASX-listed Triangle Energy could soon have $6.72 million to inject into its portfolio of WA-based oil and gas operations after selling off a slice of its interests in NSW oil and gas developer State Gas. Despite offloading 24 million shares, Triangle retains a strategic holding in State Gas of more than 10 per cent and says it is now well positioned to navigate an increasingly evolving energy sector.

The Crux gas project adds to a wave of big gas developments in WA, including Scarborough, creating a flashpoint for environmental campaigners.

ASX-listed battery metal player Lithium Australia is a step closer to the development of a 10,000 tonne per annum lithium ferro phosphate manufacturing facility after its wholly-owned subsidiary VSPC appointed engineering and project delivery outfit Lycopodium to drive a definitive feasibility advancing the proposal towards reality.

Success at the Scarborough project for Woodside Petroleum hinges on an environmental battle, selling equity, and further offtake deals.

Woodside Petroleum lured a self-confessed ‘tech geek' from NASA to head its hydrogen plans, including a $1 billion-plus proposal for a Perth export hub.

Record commodity prices and a flurry of M&A deals have defined the past year for listed resources companies.

Developing a hydrogen industry will be critical for WA's economy if LNG fades, but there should be no illusion it will be simple.

Woodside Petroleum and BHP have confirmed today they are in discussions about a potential merger deal involving BHP's entire petroleum business. Details could be announced as soon as this week.

A $21 billion merger of Santos and Oil Search looks set to proceed after the companies agreed to revised terms.

The petroleum industry and environmental activists may have clashed this week but they are both heading in the same direction on emissions reduction.

China's key economic planning department has suspended a diplomatic channel for economic discussions with Australia, although the impact could be minimal.

Scott Morrison has pledged to protect industry on the road to net zero and shows no signs of increasing Australia's emissions reduction targets for 2030.

The $US3.6 billion Barossa gas project will go ahead, Santos announced today, a move that will extend the life of the Darwin LNG plant.

With resources royalties high and the economy booming, WA's business and political leaders have an opportunity to learn from past mistakes.

Decisions on two big gas projects are due, $12 billion of chemical projects are under consideration, and a decommissioning timebomb awaits.

LNG & Domgas: $US11 billion projects set for 2021 approval; AEMO says domgas sufficient until 2026; Kirkup sticks with onshore export ban.

Almost half of revenue reported by WA's top 20 public resources companies can be attributed to iron ore miners amid an industry boom.

The shutdown of Shell's Prelude FLNG since February and planned phased shutdowns at Chevron's Gorgon could hit LNG exports by about $2 billion this year.

There's much enthusiasm and many ideas for dramatically cutting WA's carbon emissions, but a rapid transition would come at a cost.

The long-awaited Southdown Magnetite project, near Albany, has achieved a win after obtaining federal environmental approval, but securing funding is a challenge.

Chevron may have fired the starter's pistol on a major ownership reshuffle of the North West Shelf Venture, after it announced it would put its 16.7 per cent stake in the operation, which includes a 16.9 million tonnes per year LNG facility near Karratha, on the market.

The team behind a planned green hydrogen project to be built near Dongara are hoping to raise $1 billion by the end of the year, while BP is undertaking feasibility on a plant close to Geraldton, less than an hour's drive north.

The big iron ore miners are thinking about what's next in the pipeline after projects such as South Flank and Koodaideri.

Decisions on two LNG projects worth a combined $22 billion are likely to be delayed from this year to 2021, according to analysts Wood Mackenzie, while many producers have cut back to only essential staff.

Santos has struck a deal to pay up to $US1.44 billion ($A2.12 billion) for ConocoPhillips' interests in northern Australia, including its majority stake in the Darwin LNG plant and its interest in three major gas fields off the coast of Western Australia and the Northern Territory.

Shell has shipped the long-awaited first cargo of liquefied natural gas from its massive Prelude floating LNG plant off north-west Australia, sealing the nation's position as the world's top exporter of the fuel.

Energy sector analyst Wood Mackenzie has declared the liquefied natural gas (LNG) boom is back, with a prediction that more than $US200 billion will be invested in the sector over the next six years.

Woodside Petroleum has warned it would need to ramp down production at the Burrup Hub in the mid 2020s if the state government does not land on an emissions policy that would support the company's $46 billion of backfill projects.

SPECIAL REPORT: Global players are converging on WA as resources assets become increasingly attractive in the international arena.

The government of East Timor has struck a deal to buy a 30 per cent stake in the Woodside Petroleum-operated Sunrise gas project, as it continues pressing for development of an LNG plant on its own territory.

Chevron Australia managing director Nigel Hearne has proposed a major shift in the development of WA's offshore gas reserves, suggesting the industry should collaborate to build a multi-user pipeline to be shared by multiple LNG producers.