Boral Ltd., Australia’s largest construction materials company, rose to the highest in almost three years as profit surged and U.S. revenue grew in the first half and the outlook for domestic building improved.
Santos Ltd., Australia’s third- biggest oil producer, expects to reach agreement with BG Group Plc to connect their pipelines, bolstering the supply of gas for its $18.5 billion Gladstone project in Queensland state.
BG Group Plc, the U.K.’s third- largest oil and natural gas producer, is working with Goldman Sachs Group Inc. as it considers selling pipelines and other equipment at its Australian liquefied natural gas project, said two people with knowledge of the matter.
Royal Dutch Shell Plc, the world’s biggest liquefied natural gas supplier, may delay until 2014 a decision on its Arrow LNG venture that’s forecast to cost $20 billion amid rising expenses for energy projects in Australia.
ConocoPhillips and Santos Ltd., developing separate liquefied natural gas projects in Australia at a cost of more than $40 billion, agreed to share pipelines and exchange gas to reduce costs and duplication.
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.