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Three pilot groups, including pilots from aircraft charter company Network Aviation, have been negotiating with Qantas management over wage policy revisions. A spokesperson for QantasLink, an airline brand of Qantas, termed the step towards industrial action by the AFAP as "disappointing". "We have already reached in-principle agreement with the two other unions representing Network Aviation pilots, and we're continuing to negotiate in good faith to secure new agreements with our turboprop pilots." There are contingency plans in place to minimise disruptions to customers if the union proceeds with the industrial action, the spokesperson told Reuters. The AFAP also flagged the potential industrial action might impact certain charter flight operations to large mines and oil gas projects in Western Australia.
Persons: Loren Elliott, Rishav Chatterjee, Lewis Jackson, Aishwarya Nair, Rashmi Organizations: Qantas, Sydney Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Air Pilots, Reuters, Network Aviation's, Thomson Locations: Sydney, Australia, Western Australia
Chevron/Handout via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies Strikes end at Gorgon, Wheatstone LNG operationsUnions, Chevron accept proposals from industrial umpireUnions pushed Chevron to match Woodside pay dealSYDNEY, Sept 22 (Reuters) - An Australian union alliance on Friday called off strikes at Chevron's (CVX.N) two major local liquefied natural gas (LNG) projects, agreeing to resolve disputes that had threatened to disrupt around 7% of global LNG supplies. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers suspended strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. YEARS-LONG CAMPAIGNThe deal caps a years-long campaign by the Offshore Alliance for higher pay and better conditions at major Western Australian LNG sites. A 2022 agreement with Japan's Inpex at its Ichthys LNG operation set a benchmark for subsequent talks with Shell, Woodside and Chevron.
Persons: Brad Gandy, Japan's, Saul Kavonic, Yin, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Shell, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Woodside, Chevron, Australia, Sydney, Singapore
[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers were set to end strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant. Energy analyst Saul Kavonic said the deal should see an end to most industrial action offshore Western Australia with union agreements, which last for around four years, now in place for most offshore LNG sites.
Persons: Brad Gandy, Saul Kavonic, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney, Singapore
[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The agreement would resolve a wage fight that has roiled global gas markets since early August, amid fears strikes would disrupt output from Chevron's Gorgon and Wheatstone LNG projects that produce around 7% of the world's LNG supply. On Thursday, the Fair Work Commission (FWC), which has the power to impose a settlement, said it "strongly recommended" parties accept its proposals to end work stoppages. Chevron accepted arbitration terms late on Thursday to resolve all outstanding issues and finalise the agreements with the unions. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant.
Persons: Brad Gandy, Renju Jose, Lewis Jackson, Alasdair Pal, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, SYDNEY, Offshore Alliance, Woodside Energy, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney
Oil prices continued to push higher, with the international benchmark Brent crude price moving past $95 to its highest since November 2022. Reuters GraphicsInvestors and central bankers are contending with a sharp rise in oil prices as demand has picked up but Saudi Arabia and Russia have limited supply. Samuel Zief, head of global FX strategy at JPMorgan Private Bank, said central banks should not be overly concerned by the run-up in oil prices, which he said should fade as economies slow. "What the central banks are really, really focused on, it's not really the supply-side energy shocks anymore, it's really the sticky services part of the inflation basket," he said. "Pick whatever central bank you want, they're talking about either they're done already or they'll do one more hike and they'll go on pause."
Persons: Germany's DAX, Duncan MacInnes, Jerome Powell's, Samuel Zief, it's, Kazuo Ueda, Harry Robertson, Kevin Buckland, Lewis Jackson, Stephen Coates, Bernadette Baum, Chizu Organizations: Federal Reserve, Bank of England, Bank of Japan, Brent, FTSE, Nasdaq, Reuters Graphics Investors, . West Texas, JPMorgan Private Bank, of England, Bank of, Japan's Nikkei, Tokyo, Reuters, Thomson Locations: TOKYO, Asia, Japan, U.S, Saudi Arabia, Russia, Bank of Japan, London, Tokyo
Hong Kong's Hang Seng (.HSI) declined 0.3%, with a subindex of tech stocks (.HSTECH) sliding 0.7%. An index of mainland blue chips (.CSI300) fell 0.4%, while a subindex of property stocks (.CSI000952) was flat. Weakness in Asia came despite small gains for Wall Street overnight, with U.S. stock futures flat. U.S. West Texas Intermediate crude futures rose 90 cents, or 1%, to $92.38, just under a 10-month high reached on Monday. Brent crude futures rose 27 cents, or 0.3%, to $94.70 a barrel.
Persons: John Pearce, HSI, Hang, Kevin Buckland, Lewis Jackson, Stephen Coates Organizations: Benchmark U.S, Treasury, Federal, Bank of Japan, Bank of England, Japan's Nikkei, Tokyo, Reuters, Unisuper, Hang Seng developers, HK, Garden Services Holdings, Wall, U.S, Traders, U.S . West Texas, Brent, Thomson Locations: TOKYO, Hong Kong, Australia, Asia, U.S, Saudi Arabia, Russia
A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. Chevron/Handout via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies No changes to scheduled LNG deliveries, Chevron saysLNG exports continued over the weekend - LSEG EikonStrikes extended until mid-OctSYDNEY, Sept 18 (Reuters) - Chevron (CVX.N) said on Monday full production had resumed at its strike-hit Wheatstone liquefied natural gas (LNG) facility in Western Australia after a fault last week cut production by about one-fifth. "During (the fault), LNG continued to be produced at approximately 80% of usual rates, and vessel loading continued," a Chevron spokesperson said in an emailed statement. "There has been no change to scheduled LNG deliveries. Wheatstone has an export capacity of 8.9 million tonnes a year and Gorgon has an export capacity of 15.6 million tonnes a year.
Persons: Wheatstone, Eikon, Renju Jose, Lewis Jackson, Florence Tan, Muralikumar Anantharaman Organizations: Reuters, Chevron, Handout, REUTERS, Tanker, Offshore Alliance, Saturday, South, Thomson Locations: Wheatstone, Western Australia, SYDNEY, Japan, Australia, China, South Korea, Taiwan, Sydney, Singapore
The full strike comes after workers on Thursday escalated what had been six days of limited action. The company's Gorgon and Wheatstone Australian LNG facilities account for over 5% of global supply. "Chevron’s 3 West Coast facilities are descending into chaos as Offshore Alliance members lock all 3 Chevron facilities down for the next 24-hours," the union said in a Facebook post. An union representative, who declined to be identified, said the strike would run until 8am WST on Sunday (0000 GMT). Unions have said they will vary strikes according to "industrial strategy", targeting LNG exports in particular.
Persons: Sam McKeith, Lewis Jackson, Sandra Maler, Kim Coghill Organizations: Reuters, Chevron, Handout, REUTERS Acquire, Rights, Australia's Offshore Alliance, Offshore Alliance, Wheatstone, Facebook, Analysts, Thomson Locations: Chevron, Barrow Island, Australia, Coast, Sydney
"We've certainly seen Australia's reputation being affected as some existing buyers expressed interest in diversifying their suppliers for long-term supply," said Ryhana Rasidi, LNG analyst at analytics firm Kpler. "Australia is the closest gas supplier we can get. By far, Australia, U.S. and Qatar are the three pillars in LNG supply chain. As well as its political stability, its proximity to Asia might be Australia's saving grace, industry analysts say. "Ties are very strong between North Asia and Australia as a legacy supplier, so many participants are keen to continue the relationship," said Kaushal Ramesh, LNG analyst at Rystad Energy.
Persons: Inpex, Resources Madeleine King, We've, Ryhana, Jane Liao, Kaushal Ramesh, Emily Chow, Yuka Obayashi, Muyu Xu, Andrew Hayley, Joyce Lee, Lewis Jackson, Florence Tan Organizations: Reuters, Chevron, Handout, REUTERS, Rights, Workers, Japan's Kyushu Electric Power, Chevron's, Woodside Energy, West Shelf, South, Resources, Taiwan, Tohoku Electric Power, Kyushu Electric Power, Osaka Gas, Rystad Energy, Thomson Locations: Chevron, Barrow Island, Australia, Rights SINGAPORE, TOKYO, Qatar, United States, Western Australia, China, Japan, South Korea, Taiwan, Ukraine, Oman, U.S, Asia, Singapore, Tokyo, Beijing, Seoul, Sydney
Talks between Chevron and the workers' unions broke down last week without a deal, and the industrial action is scheduled to escalate to two weeks of 24-hour stoppages on Thursday. Chevron would have to demonstrate a sustained attempt to negotiate with unions for the tribunal to rule in its favour, he added. Strikes could actually demonstrate workers were so committed to bargaining that they were willing to stop work and forgo wages, she added. "Strike action is a legitimate form of action, workers have the right to do this," she said. Any party involved can contest a FWC ruling and seek judicial review, Charles Power, partner at law firm Holding Redlich said, although a court would not again hear the facts of the case.
Persons: Australia's, Steve Purvinas, Purvinas, Shell, Shae, McCrystal, Charles Power, Redlich, Lewis Jackson, Renju Jose, Alasdair Pal, Miral Organizations: Reuters, Chevron, Handout, REUTERS Acquire, Rights, CAN, Virgin Australia, Australian Licensed Aircraft Engineers ’ Association, Virgin, Offshore Alliance, Shell, University of Sydney, Thomson Locations: Wheatstone, Western Australia, Federal, Shell, Woodside, Inpex, Sydney
A view of Chevron-operated Gorgon project on Barrow Island, Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. “Unfortunately, following numerous meetings and conciliation sessions with the Fair Work Commission, no agreement has been reached as the unions are asking for terms significantly above the market," a Chevron spokesperson said in a statement. "Until we have some case law, until we get some Fair Work Commission decisions on how the laws work, we don't know (how long the process will take)," said Shae McCrystal, a professor of labour law at the University of Sydney Law School. A subsidiary of airline Virgin Australia made the only other application under these laws in June, local media reported. No talks are scheduled between unions and Chevron, according to the FWC website.
Persons: Shae McCrystal, Roushni Nair, Lewis Jackson, Jamie Freed, Michael Perry Organizations: Reuters, Chevron, Handout, REUTERS, Fair, University of Sydney Law School, Virgin Australia, Offshore Alliance, Thomson Locations: Chevron, Barrow Island, Australia, Chevron Australia, Melbourne, U.S, Bengaluru, Sydney
A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. If there is still no deal by then, the unions will completely stop work for two weeks. Australia was the world's largest LNG exporter last year, shipping out 80.9 million metric tons of the fuel in 2022 versus 79 million tons in 2021, according to the International Gas Union. A prolonged strike could disrupt exports and raise prices of LNG, which is used for electricity generation. The same union alliance also secured agreements last year with Shell (SHEL.L) and Inpex (1605.T) at their LNG facilities in Western Australia.
Persons: Chevron, Wheatstone, Baden Moore, NAB's Moore, Emily Chow, Lewis Jackson, Florence Tan, Tony Munroe, Miral Organizations: Reuters, Chevron, Handout, REUTERS Acquire, Rights, NEXT, Unions, International Gas Union, National Australia Bank, NAB, Woodside Energy Group, WHAT'S, Woodside, North West Shelf, Shell, Thomson Locations: Wheatstone, Western Australia, Rights SINGAPORE, SYDNEY, Australia, Japan, South Korea, China, Taiwan, Asia, Europe, Ukraine, Inpex, Woodside
FILE PHOTO: The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. Australia is the world's biggest LNG exporter and its main buyers are in Asia. "Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms," a Chevron spokesperson said. Brad Gandy, a spokesperson for the Offshore Alliance, said the union coalition had agreed "in good faith" to the mediated talks, "but after five days Chevron has barely budged". Energy analyst Saul Kavonic said the strikes appeared to be designed to put more pressure on Chevron to cut a deal rather than substantially affect production.
Persons: Marco Bello, Brad Gandy, ratcheting, Saul Kavonic, Renju Jose, Lewis Jackson, Leslie Adler, Jamie Freed, Miral Fahmy, William Mallard Organizations: Chevron, REUTERS, Rights, Woodside Energy, North West Shelf, Offshore Alliance, CHEVRON, Australian, South, Taiwan . Energy, Thomson Locations: Caracas, Venezuela, Australia, U.S, Asia, British, China, Japan, South Korea, Taiwan, Western Australia, Sydney
Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS/File Photo Acquire Licensing RightsNEW DELHI, Sept 6 (Reuters) - Nigeria has secured nearly $14 billion of pledges from Indian investors and seeks an economic cooperation pact with the South Asian nation, a presidential spokesperson said on Wednesday. Skipperseil Ltd's founding Chairman Jitender Sachdeva and India's Bharti Enterprises each pledged $1.6 billion over four years to build power generation plants and $700 million in Nigeria, respectively, Ngelale said. Tinubu is attending at the invitation of India, which currently holds the rotating presidency of the bloc. "We are ready to give you the best returns for investment possible, there's nowhere else like our country," Tinubu said in the statement.
Persons: Bola Tinubu, Lewis Joly, India's Jindal, Ajuri Ngelale, Skipperseil, Jitender Sachdeva, Ngelale, Tinubu, Nidhi Verma, Felix Onuah, Elisha Bala, Shivam Patel, Christina Fincher, Richard Chang Organizations: New Global Financial, South, India's Jindal Steel, Indorama Corp, India's Bharti Enterprises, Defence Industries Corporation, Thomson Locations: Nigeria, Paris, France, DELHI, West, New Delhi, India, Africa's, South Africa, Abuja
Editor’s Note: Jon Lewis is a research fellow at the Program on Extremism at George Washington University, where he studies domestic violent extremism. However, the 814-page document devoted less than three pages to making recommendations, and in those, perplexingly failed to offer a meaningful set related to domestic terrorism. There is little question that right-wing extremism, particularly white supremacist extremism, is currently the deadliest and most pervasive domestic terrorism threat facing the United States. Nearly 1 in 4 of these right-wing extremist killings were committed in the name of white supremacist terrorism – a staggering 251 total deaths. We stand at a crossroads in the fight against domestic terrorism.
Persons: Jon Lewis, Timothy Kelly, Proud, Enrique Tarrio, Joseph Biggs, Zachary Rehl, Ethan Nordean, Jon Lewis Jon Lewis, perplexingly Organizations: Extremism, George Washington University, CNN, Proud Boys, Justice Department, Biden, Terrorism, Defense, Department of Homeland Security, Twitter, Facebook Locations: United States, Poway, El Paso, Pittsburgh, Buffalo
A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Sept 6 (Reuters) - Workers at Chevron's (CVX.N) liquefied natural gas facilities in Australia have agreed to pause planned strike action for one day, hours before they were due to begin industrial action in an ongoing dispute that has rattled gas markets. Chevron confirmed the pause in an emailed statement minutes later and said unions had advised it of the roughly one-day delay. The Dutch October natural gas contract fell as much as 7.2% to 31.45 euros per megawatt hour (MWh) after news of the pause. Australia is the world's biggest LNG exporter and the ongoing dispute has stoked volatility in natural gas markets, as traders worry about the risk of long-term disruption.
Persons: Dado Ruvic, Chevron, Saul Kavonic, Australia's, Lewis Jackson, Emily Chow, Nick Zieminski, Tony Munroe Organizations: Chevron, REUTERS, Rights, Reuters, Fair, Thomson Locations: Australia, Perth, Chevron Australia, Sydney, Singapore
Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS Acquire Licensing RightsABUJA, Sept 6 (Reuters) - Nigeria's presidential election tribunal is due to rule on Wednesday on whether Bola Tinubu should stay as president after two rivals challenged his victory in February's disputed vote. There have been numerous legal challenges to the outcome of previous Nigerian presidential elections but none have succeeded. The tribunal, which will deliver its ruling in the capital Abuja, has the power to cancel an election and order a fresh one, among other remedies. Tinubu, who is in India ahead of a G20 Summit, has defended his victory and says he is focused on reviving the economy.
Persons: Bola Tinubu, Lewis Joly, Bola, February's, Atiku Abubakar, Peter Obi, Atiku, Obi, Muhammadu Buhari, MacDonald Dzirutwe, Alison Williams Organizations: New Global Financial, REUTERS Acquire, Rights, Tinubu's, People's Democratic Party, Labour, Thomson Locations: Nigeria, Paris, France, Rights ABUJA, Abuja, India
Australia to Host ASEAN Leaders in Melbourne Next March
  + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com   time to read: +2 min
By Lewis JacksonSYDNEY (Reuters) - Australia will host leaders from Southeast Asia's ASEAN bloc in Melbourne next March for a special summit to commemorate 50 years of relations, Prime Minister Anthony Albanese said on Wednesday as he announced a new investment strategy for the region. Albanese told reporters in Jakarta he had written to all the bloc's leaders inviting them to the "significant event", set to run from 4 March to 6 March. Albanese has travelled to Jakarta for the Association of Southeast Asian Nations (ASEAN) summit at a time when Australia is strengthening relations across Asia in a bid to build economic and diplomatic alternatives to China. ASEAN was vital to Australia's future, Albanese said in a speech to the summit. The strategy comes with 75 recommendations including using government agencies to help underwrite infrastructure investment in the region.
Persons: Lewis Jackson SYDNEY, Anthony Albanese, Albanese, Kamala Harris, Li Qiang, Lewis Jackson, Christopher Cushing Organizations: ASEAN, Association of Southeast Asian Nations, U.S Locations: Australia, Southeast, Melbourne, Jakarta, Asia, China, Japan, South Korea, India
Chevron begins mediation talks to avert Australia LNG strike
  + stars: | 2023-09-04 | by ( ) www.reuters.com   time to read: +2 min
The Chevron logo is pictured after the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela, December 2, 2022. Reuters first reported on Friday that Chevron had filed a request for mediation with the FWC. Any industrial action would disrupt Australia's LNG exports and increase competition for the super-chilled fuel, forcing Asian buyers to outbid European buyers to attract LNG cargo. Reuters GraphicsGorgon, Australia's second-largest LNG plant, has an export capacity of 15.6 million tonnes a year and Wheatstone 8.9 million. A similar dispute between the union alliance and Woodside-operated (WDS.AX) North West Shelf LNG facility, Australia's biggest, was resolved last month after workers approved a deal.
Persons: Gaby Oraa, Australia's, Renju Jose, Lewis Jackson, Christopher Cushing Organizations: Chevron, U.S, REUTERS, Rights, Reuters, Offshore Alliance, South, Wheatstone, West Shelf, Thomson Locations: Venezuela, Caracas, Australia, Western Australia, Perth, China, Japan, South Korea, Taiwan, Woodside, Sydney
President Bola Tinubu will leave on Monday to attend the G20 summit in India at the invitation of Prime Minister Narendra Modi, spokesperson Ajuri Ngelale said. "While Nigeria's membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership," Ngelale said in a statement. Tinubu's attendance was in part to further Nigeria's membership objective, he said. On Friday, Ngelale said Tinubu will attend the G20 summit to try to promote foreign investment in Nigeria and mobilize global capital to develop infrastructure. Tinubu will attend the summit with some of his cabinet members including foreign affairs, finance and trade ministers.
Persons: Bola Tinubu, Lewis Joly, Narendra Modi, Ajuri Ngelale, Ngelale, Tinubu, Felix Onuah, Chijioke Ohuocha, Andrew Cawthorne, Angus MacSwan Organizations: New Global Financial, Rights, Thomson Locations: Nigeria, Paris, France, Rights ABUJA, India, South Africa
Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS/File Photo Acquire Licensing RightsABUJA, Sept 1 (Reuters) - Nigeria's President Bola Tinubu plans to attend the G20 summit in India this month to try to promote foreign investment in Africa's largest economy and mobilize global capital to develop infrastructure, his spokesman said on Friday. The summit in India will hold on Sept 9 and 10. Ngelale said Tinubu will meet leaders from Brazil, India, South Korea and Germany on the sidelines of the G20. Tinubu also plans to meet Indian executives, including Jindal Steel and Power Company, among others, Ngelale said.
Persons: Bola Tinubu, Lewis Joly, Tinubu, Ajuri Ngelale, Ngelale, India's Bharti, Joe Biden, Felix Onuah, Chijioke Ohuocha, Cynthia Osterman Organizations: New Global Financial, Rights, Jindal Steel, Power Company, India's, India's Bharti Airtel, U.S, United Nations General Assembly, Thomson Locations: Nigeria, Paris, France, Rights ABUJA, India, West African, Brazil, South Korea, Germany, Africa, New York
SYDNEY, Aug 31 (Reuters) - Australian gig workers will be able to negotiate for minimum pay and conditions under a new law to be introduced next week in parliament by the centre-left Labor government. The law will define "employee-like workers" in the gig economy, a catch-all term including those who deliver food or drive for apps like Uber (UBER.N) or DoorDash (DASH.N). However, the umpire will have discretion to vary standards between workplaces and the laws will not mandate uniform pay or conditions. The issue of how to qualify the legal status of gig economy workers is being debated in many countries. "We welcome the minister confirming his commitment to protect the flexibility gig workers rely on and value, an Uber spokesperson said in a statement.
Persons: Tony Burke, Burke, Uber, Lewis Jackson, Robert Birsel Organizations: SYDNEY, Labor, Thomson Locations: Australia, Canberra
Chevron's Gorgon and Wheatstone projects account for more than 5% of global LNG capacity, and news of the possible strikes sent European natural gas prices surging. "It's set to cost Chevron their LNG exports as (the industrial action) starts to bite," said the alliance that groups together the Maritime Union of Australia and the Australian Workers' Union. The unions last week warned that work stoppages could cost Chevron billions of dollars. "Ten hour work stoppages: it is a harsher initial industrial action than what the unions contemplated for Woodside," he said. Last week, Offshore Alliance and Woodside (WDS.AX) resolved worker disputes at North West Shelf, Australia's largest LNG facility, after negotiating higher wages, job security and employee-friendly rosters, averting industrial action.
Persons: Gaby Oraa, Wheatstone, Saul Kavonic, Renju Jose, Lewis Jackson, Florence Tan, Alasdair Pal, Chris Reese, Shri Navaratnam, Tom Hogue Organizations: Chevron, U.S, REUTERS, SYDNEY, Workers, Reuters, Offshore Alliance, Maritime Union of Australia, Australian Workers ' Union, Shell, Energy, Woodside, North West Shelf, Thomson Locations: Venezuela, Caracas, SINGAPORE, Australia, Woodside, WDS.AX, Asia, Chevron, Sydney, Singapore
A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsSYDNEY, Aug 25 (Reuters) - Australia's second-largest pension fund plans to open its first overseas office by mid-2024, its chief investment officer said on Friday, the latest retirement manager to look overseas as the country's pension sector outgrows the home market. The team will "almost certainly" be based in London and only be small because ART relies mostly on external managers, Patrick said, adding the office would likely open between now and mid-2024. A decision on a second overseas office would be made 12 to 24 months after the first opens. ART invests roughly two-thirds of all new money funds overseas.
Persons: Hollie Adams, Ian Patrick, Patrick, HarbourVest, Neuberger Berman, Lewis Jackson, Praveen Menon, Jacqueline Wong Organizations: REUTERS, Rights, Reuters, Stepstone, AustralianSuper, Nikkei, Thomson Locations: City, London, Britain, New York, China
A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken February 8, 2022. Workers on Thursday voted to authorize the Offshore Alliance of unions to call a strike at Chevron's Gorgon and Wheatstone projects. In a Facebook post on Friday, the union alliance said of Chevron's senior management team: "Their stupidity is about to cost them $billions in lost production and profit." The Offshore Alliance, which combines the Maritime Union of Australia and Australian Workers' Union, must give Chevron seven working days' notice before a strike. The Offshore Alliance announced on Friday that workers had "overwhelmingly endorsed" the draft agreement in a meeting the previous evening.
Persons: Dado Ruvic, Wheatstone, Saul Kavonic, Renju Jose, Lewis Jackson, Cynthia Osterman, Kim Coghill Organizations: Chevron, REUTERS, Rights, Workers, Offshore Alliance, North West Shelf, Maritime Union of Australia, Australian Workers ' Union, South, Taiwan . Energy, West Shelf, Woodside, Thomson Locations: Chevron's, Australia, Woodside, Europe, China, Japan, South Korea, Taiwan, Woodside's, Dutch, Sydney
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