Rio Tinto Group, the world’s second- biggest miner, will probably pursue a $5 billion expansion of its iron ore output in Australia, Chief Executive Office Sam Walsh said, according to two people present at a meeting with investors and analysts.
A furnished two-bedroom apartment in Port Hedland, the world’s biggest bulk export terminal, on Australia’s cyclone-battered north-western coast rents for almost the price of a three-bedroom penthouse in Manhattan.
Santos Ltd. , the Australian energy company planning a liquefied natural gas project in Queensland state, may seek to raise as much as A$2.5 billion ($2.25 billion) selling shares, an analyst at Macquarie Group Ltd. said.
PetroChina Co., the nation’s biggest oil and gas producer, is looking to make more deals in Australia, adding to about $3.7 billion in acquisitions as part of a global drive to feed surging Chinese demand.
The Australian government may delay approvals for proposed coal-bed methane projects in Queensland state after Origin Energy Ltd. said it found traces of banned chemicals in exploration wells, Macquarie Group Ltd. said.
Japanese companies are buying natural gas assets and fields around the world, setting the nation on course to be the first of the 10 largest energy users to bet its future on a less-polluting fuel than oil or coal.
Woodside Petroleum Ltd. may get gas supplies from a field operated by Exxon Mobil Corp. to underpin an expansion of its $14 billion Pluto liquefied natural gas project in Western Australia, Macquarie Group Ltd. said.