Queensland LNG exports are now in full swing and there is currently much focus on the impact of the Queensland LNG projects on the electricity market in Q1 2016, a time when Queensland power demand often peaks. Download our thoughts on the outlook.
It isn’t all doom and gloom in the energy sector with the Queensland Government now looking at a yearly $500 million royalties bonanza from new LNG-linked gas projects, notwithstanding the fall in oil prices. Queensland Government budget forecasts point to a growth in petroleum royalties for Queensland from $51m in the financial year just ended to […]
There is a global energy glut, just about everywhere except on the east coast of Australia. This is clear from an analysis of the latest BP Statistical Review of World Energy contained in the August 2015 edition of EnergyQuest’s EnergyQuarterly. There is a glut of all fossil fuels, not only oil but also coal and […]
We have just released the March EnergyQuarterly report, which brings together all of the statistics on Australasian oil and gas reserves and production for 2014, together with analysis of the latest developments. Overall petroleum production reached record levels in 2014 and spending on new LNG projects continued at elevated levels as new projects near completion. […]
The BG LNG Carrier Methane Rita Andrea started loading at Gladstone on 28 December, the first Queensland LNG cargo. The upstream fields Berwyndale South, Kenya, Ruby Jo and Bellevue are doing more than 500 TJ/d currently so if all is going well we should see the Rita Andrea depart in the next few days, to […]
The BG Methane Rita Andrea departed Gladstone this afternoon for China. First east coast LNG cargo.
There was lots of media excitement in Australia this week to the news that British Columbia was reducing its proposed LNG export tax from 7% to 3.5%. Woe is us! However the Australian export tax is already zero. BC also has a C$30/tonne carbon tax. Australia’s is now zero too. More on this in our […]
There are media reports today that the oil price slump is a threat to Australian LNG projects. The fall is unlikely to have an impact on existing projects, which have contracts they have to fulfil. They need to ramp up as quickly as possible to start earning cash so there is unlikely to be a […]
Visiting Broken Hill over the Anzac Day long weekend stimulates some interesting comparisons. Broken Hill, discovered in the 1880s, was one of the world’s great mineral discoveries and certainly one of Australia’s greatest. It was where BHP Billiton started and also played a major role in the growth of Rio Tinto, to name just two […]
Closure of Australian refineries does have implications for security of transport fuel supply.Yesterday BP announced the closure of Brisbane’s Bulwer Island refinery from 2015. The general commentary has been that this won’t affect Australian transport fuel security because most crude oil refined in Australia is imported. However the crude oil processed in Australian refineries is […]