Australia’s coal gas company Arrow Energy has received a takeover offer valued at around AUD3.3bn (US$3bn) from a firm owned by Royal Dutch Shell and PetroChina.
Shell confirmed that it was in talks to buy Brisbane-based Arrow, with the exception of its international business, in which it already owns a small stake.
For PetroChina, it would be …
The Rudd government’s decision to exclude solar panels and water heaters from Australia’s large-scale renewable market has been welcomed by Pacific Hydro and AGL, who had put on hold wind farm projects worth over AUD6bn. Their decision, which was made as a result of the price of renewable energy certificates dropping from AUD60/MWh to around …
Despite being the world’s third largest producer of uranium, Australia’s Prime Minister Kevin Rudd has ruled out nuclear power as part of the country’s energy mix.
“”Australia has multiple other energy sources and we will not be heading in the direction of civil nuclear power,” Rudd told reporters in Canberra.
He went on to remark that Australia …
During the past couple of years, dramatic shifts have taken place in the world’s 157.9MW wind energy sector. In 2008, the geographical point of gravity moved from Europe to the USA and Asia, where demand for this renewable form of energy picked up. Nevertheless, wind power remains firmly at the centre of Europe’s renewable energy …
The world’s largest coal producer, Coal India, may invest around US$2bn over the next four years to buy stakes in overseas coal assets, its chairman Partha S Bhattacharyya told Dow Jones Newswire in an interview. “We want to enhance the availability of coal in this country by getting coal from overseas, but on terms that …
Australia’s power sector is heading for an AUD22bn (US$19bn) bill as it seeks to refinance debt over the next two years as well as uncertainty about carbon prices hurting investment.
Around 80 per cent of the country’s electricity is generated by coal-fired plants, which are facing rising costs for their operators as some form of carbon …
The burgeoning construction of nuclear newbuild in Asia and the concerns over fuel security to power these plants is to increase international merger and acquisition activity to ensure supplies of uranium, according to a Nomura International report.
“The key feature of worldwide uranium resource distribution is that a couple of countries own most of the …
BHP Billiton will spend S267m to accelerate development of the Caval Ridge mine and the Hay Point coal terminal in Queensland, Australia. The development of Caval Ridge, which is located in the northern section of the Bowen Basin, was delayed by two years in July due to the global recession.
Caval Ridge will produce 5.5Mta from …
Investment relations between China and Australia are on the mend after a rocky year in which Australia blocked a number of Chinese takeovers if the latest agreement is anything to go by. Both countries signed a US$3bn coal deal on Wednesday as Yanzhou Coal Mining Co bought Australia’s Felix Resources. Yanzhou’s vice chairman, Geng Jiahuai, …
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