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☆ Germany's half-a-trillion dollar energy bazooka may not be enough
▼ + stars: | 2022-12-15 | by ( Christoph Steitz | ) www.reuters.com time to read: +8 min

Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago. The money set aside stands at up to 440 billion euros ($465 billion), according to the calculations, which provide the first combined tally of all of Germany's drives aimed at avoiding running out of power and securing new sources of energy. That equates to about 1.5 billion euros a day since Russia invaded Ukraine on Feb. 24. Energy rationing is a risk in the event of a long cold spell this winter, Germany's first in half a century without Russian gas. There's no security in sight either, with the push to build up of two alternatives to Russian fuel - liquefied natural gas (LNG) and renewables - years away from targeted levels.

☆ Australia seeks to limit gas producers' profits as prices soar
▼ + stars: | 2022-12-10 | by ( Samuel Mckeith | ) www.reuters.com time to read: +2 min

The move, detailed late Friday, comes as gas producers face fierce criticism over soaring energy prices that have resulted in windfall profits from their Australian operations. The government said it would cap gas prices at A$12 per gigajoule (GJ) and coal prices for power plants at A$125 per tonne for one year in what Prime Minister Anthony Albanese said were "extraordinary measures" to drive down energy bills. It would not apply to gas sales on the spot market, and would remain in place until the regulator advised the government that domestic gas prices were "reflective of the underlying costs of production". "This may be taken as a declaration of war on the gas industry on the east coast," Credit Suisse analyst Saul Kavonic said. The government earlier this year forecast household gas and power prices would rise by 20% to 30% over each of the next two years.

☆ Woodside Energy discusses Australia's energy situation
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBest long-term answer to Australia's energy situation is investment in more supply: Woodside EnergyMeg O'Neill of Woodside Energy says "things like price caps just aren't going to work."

☆ Australia's Fortescue taps Woodside veteran as CEO amid green energy push
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Australia's Fortescue Metals Group (FMG) can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. REUTERS/Melanie Burton/File PhotoNov 29 (Reuters) - Australia's Fortescue Metals Group (FMG.AX) on Tuesday appointed former Woodside Energy (WDS.AX) executive Fiona Hick as its chief executive officer, effective February 2023, as Elizabeth Gaines made way for a new boss in August. Hick joins Fortescue at a time when the iron ore giant is delving into mining of critical minerals and rare-earths and is also striving to transition into a green energy firm through its unit Fortescue Future Industries (FFI). She will lead Fortescue Metals' mining arm, culminating a year-long search by the company's billionaire-founder and chairman Andrew Forrest. Gaines, who oversaw a tripling in the share price of one of the world's biggest iron ore miners in the past four years, remains on Fortescue's board as a non-executive director.

But it is spreading across finance, energy, retail and aviation, threatening to push up labour costs in industries facing supply-chain bottlenecks and worker shortages. The turmoil is especially pronounced because union power was curtailed in Australia under laws in place since the 1990s. In the year to June, the average Australian wage rose 2.6%, compared with inflation of 6.1%, according to official data. Despite seven interest-rate hikes since May, inflation is set to climb further before subsiding in 2023, the government says. But in the current climate in Australia, workers are in no mood to back down.

☆ Woodside ships first Australian LNG cargo direct to Europe
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, Nov 28 (Reuters) - Woodside Energy Group (WDS.AX) said on Monday it has shipped a liquefied natural gas (LNG) cargo to Europe from Australia's North West Shelf project for the first time, which the buyer Uniper said would help make up for supply lost from Russia. The 75,000-tonne cargo, equivalent to 100 million cubic metres of gas, was delivered on Nov. 27 to Uniper Global Commodities SE (Uniper) at the Gate Terminal on Maasvlakte, Woodside, Australia's top independent gas producer, said. Almost all LNG from Australia goes to Asia, with rare shipments going to South America. In August, amid Europe's hunt for gas to replace Russian supply, an Australian cargo was transferred onto a ship in Malaysian waters to go to Britain. Reporting by Sonali Paul; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Idealab founder Bill Gross started selling solar energy kits in 1973 at 15 years old. Now he's leading solar tech company Heliogen
▼ + stars: | 2022-11-28 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Idealab and Heliogen Founder Bill Gross speaks onstage during Vox Media's 2022 Code Conference on September 08, 2022 in Beverly Hills, California. "Because I was reading Popular Science magazine, I saw people used to take out little ads in the back," Gross told CNBC. One limiting factor for solar energy is its intermittency, which means it only delivers power when the sun is shining. But we're delivering the energy continuously because the energy is coming out of the rock bed," Gross told CNBC. The price of fossil fuels after Russia invaded Ukraine is a game changer," Gross told CNBC.

☆ Netball Australia: Gina Rinehart pulls sponsorship in dispute over father's racist comments
▼ + stars: | 2022-10-23 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +11 min

Brisbane, Australia CNN —When Australia’s richest woman Gina Rinehart threw a financial lifeline to Netball Australia, she triggered a debate about sponsorships and the role of social and political issues in the sporting sphere. Donnell Wallam of the Firebirds is a rising star in Australian netball. On Monday, Kathryn Harby-Williams, CEO of the Australian Netball Players’ Association told the Australian Broadcasting Corporation that Wallam had asked for an exemption not to wear the logo and was refused. Netball Australia CEO Kelly Ryan told Nine News the loss of Hancock sponsorship was “disappointing” but a “strong balance” needs to be struck between social issues and funding. “When done well, sport sponsorship is brand transforming for both the sport and sponsor.”

☆ Woodside lifts output forecast as revenue soars on high energy prices
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

The company became a top-10 global independent oil and gas producer after its merger with BHP's petroleum arm was finalised this year, helping it double its output. read moreWoodside gained from weaker energy supplies following the Ukraine war, which pushed liquefied natural gas prices to new highs and forced buyers to scramble for alternate supplies from countries like Australia. Woodside also said it produced 51.2 mmboe during the quarter, the first full quarter of production since its merger with BHP's petroleum arm, compared with 22.2 mmboe a year earlier. This, along with the newly acquired BHP assets, helped boost quarterly revenue to $5.86 billion, from $1.53 billion a year ago. Woodside also said its Sangomar oil and gas project in Senegal was 70% complete at the end of September, with first production targeted for the latter half of 2023.

☆ European shares edge higher as investors await new UK fiscal plan
▼ + stars: | 2022-10-17 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 index (.STOXX) was up 0.3%, extending gains for a third straight session. European equities have suffered losses in the recent weeks as investors fret about the prospects of a recession from aggressive central bank actions to tame inflation. Most STOXX 600 sectors were trading up, with energy stocks (.SXEP) up 0.6% as oil prices rose driven by hopes of better demand from China. The bank has agreed to pay $495 million to settle a case brought against it in the United States. read moreNel (NEL.OL) rose 7.3% after the Norwegian hydrogen company received a NOK 600 million ($56.4 million) order from Woodside Energy (WDS.AX) for a U.S. hydrogen project.

☆ Star witness who visited Elizabeth Holmes after fraud trial says 'she needs to pay her debt to society'
▼ + stars: | 2022-10-17 | by ( Yasmin Khorram | ) www.cnbc.com time to read: +3 min

"I don't want to help Ms. Holmes, she's not someone who should be helped," said former Theranos lab director Adam Rosendorff. "The only person who can help Ms. Holmes is herself. He spent six days on the stand, which was longer than any other witness, during Holmes' high-profile trial. "And I understand Ms. Holmes may be pregnant again." Leaving court, Holmes did not answer questions about whether she was pregnant with a second child.

☆ Investment management firm explains why it's positive on Woodside Energy
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestment management firm explains why it's positive on Woodside EnergyHugh Dive of Atlas Funds Management says Woodside Energy has a lot of potential for growth.

☆ Australia's Scarborough project: Race and power collide in a fight over sacred rock art in remote Australia
▼ + stars: | 2022-09-23 | by ( Hannah Ritchie | ) edition.cnn.com time to read: +21 min

More than a million drawings are etched onto rocks on Murujuga peninsula on the Western Australia coast. Resources extracted from the region have powered Australia’s economy and helped create some of the world’s largest mining and energy multinationals. Today, the fight for Murujuga’s rock art reflects long-standing and unresolved issues of race and power. Woodside Petroleum's Pluto development on Murujuga, Western Australia, June 2008. Murujuga Aboriginal Corporation chief executive Peter Jeffries.

☆ Technologies like virtual reality and robotics could reduce the energy industry's carbon footprint and advance workers' skill sets
▼ + stars: | 2022-08-11 | by ( Chris Daniels | ) www.businessinsider.com time to read: +6 min

Governments have also taken actions to reduce greenhouse-gas emissions from the oil-and-gas sector to meet their net-zero goals. "This has created a ripe opportunity for technology to play an even greater role in the energy sector." However, to realize the full value of technology investments, energy leaders will need to upgrade workers' skill sets and attract higher-skilled labor in areas like robotics, software engineering, and data analytics. 'Digital twins' optimize energy projectsOil-and-gas leaders are using virtual reality and augmented reality to create "digital twins" of current energy projects for training and simulation-based learning. A path to highly skilled job creationMortlock said these kinds of developments will help the energy sector combat market instability and stakeholder pressure to improve their carbon footprint.

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