This Month
Batteries, coal push out East Coast gas shortage to 2029
Delays in coal power station closures and a wave of battery storage projects have cut expected demand for gas, helping ease the imminent threat of a shortfall.
This oil shock is not as bad as the 1970s. Not yet
Fuel prices have not increased as dramatically, 5 per cent inflation is a long way from double-digits, and most home borrowers can cope – for now.
Labor set to announce massive subsidy package for Boyne smelter
Rio Tinto’s Boyne aluminium smelter is set to be the latest large manufacturing facility to receive taxpayer support.
Banks rebuff work from home calls as Wesfarmers pauses business travel
Australia Post joins Qantas and Virgin in hiking prices, while the big four lenders are holding firm against union demands to allow staff to log in remotely.
Traders made $832m in oil bets just before Trump’s post on Iran talks
Thousands of Brent and WTI contracts changed hands 15 minutes before the president’s message on Truth Social about productive talks.
Santos hit by outage at Barossa LNG just as gas faces global crunch
The stoppage at the gas project in the Timor Sea has cut LNG supplies to Asia, the region worst affected by the absence of exports from Qatar and a spike in prices.
Supply cliff edge looms as Gulf’s final LNG shipments approach ports
Qatar’s LNG import terminals have reduced their operations to one-sixth of normal levels and will have stopped dispatching gas completely by the end of the month.
Multibillion-dollar cost blowouts prompt calls for grid rethink
Consumers will be on the hook for higher power bills unless changes are made to the way big network projects are designed and approved.
Gas buyers ‘hold breath’ amid fears local prices to track LNG surge
The worries among users have been exacerbated by last week’s spike in LNG prices after the damage to Qatar’s facilities which may take up to five years to fix.
Work from home and limit flights, urges IEA, as fuel crisis deepens
The International Energy Agency warning came as major companies reworked pricing and supply chains to withstand a drawn-out Middle East conflict.
Gas tax on the agenda as war prompts budget rethink
Proceeds from a new levy on gas giants could be used to help Australians cope with any spike in energy prices caused by the Iran conflict.
War forces Ampol to import US crude, defer refinery shutdown
Delaying maintenance work at Ampol’s Brisbane refinery from early June to the start of August will result in an extra 300 million litres of fuel being produced.
Oil settles modestly higher in New York as volatility persists
A roller-coaster day for crude reflected how nervous global investors are about the potential escalation of the war, and how eager they are for any good news.
Power prices ‘to fall 10pc’ – but customer pain to stay
Households in NSW, SA and south-east Queensland should get a cut in bills on July 1, but that could be derailed by the turmoil in global energy markets.
LNG markets could face year-long turmoil after strike on Qatar facility
The missile attack on the plant could disrupt global supply for more than a year, as analysts tear up forecasts from earlier this year of a slump in prices.
The $300m power play: Inside the plan to save Tomago
The Albanese government says its plan to save a failing aluminium smelter will turbocharge Australia’s energy transition. But at what cost?
How the Iran war could hit your electricity bill this winter
Gas plays a pivotal role in our own domestic energy system, especially in winter. If it continues, this distant war may ripple into the Australian grid.
Chinese fuel bound for Australia fails to load amid supply scramble
By the end of next week, diesel supplies could be feeling a pinch from reduced imports, according to some estimates, as the Strait of Hormuz remains closed.
Woodside faces slower green ammonia start-up as customer demand lags
The delay to the start of low-carbon ammonia at a plant in Texas comes as the company confirmed its $7 billion target for clean energy investments by 2030 despite the Iran war.
Higher inflation to create a short-term budget win
Jim Chalmers can expect higher inflation to support the budget’s bottom line, with tax revenue boosted by nominally higher incomes and profits.
