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Rapidly escalating ESG concerns are among factors that have rapidly shrunk capital available for oil investment worldwide, pointing to higher prices as demand continues.

AGL demerger in doubt as investors query CEO exit Apr 27, 2021 – 12.01am Save Share The shock departure of Brett Redman as CEO of AGL Energy has fuelled speculation that the demerger plan he developed may have hit the rocks, with his exit giving space for top management to backtrack and adjust the strategy for the embattled electricity and gas supplier. Investors and analysts are still struggling to understand the circumstances around last week’s sudden exit of Mr Redman – the architect of the demerger plan – which has plunged the country’s biggest electricity and gas...

Origin ordered to pay more in Beach Energy gas price stoush We’re sorry, this service is currently unavailable. Please try again later. Dismiss Save Normal text size Advertisement Australian power and gas giant Origin Energy’s profit will take a significant hit after the company was ordered to pay more than expected for the natural gas it buys from Kerry Stokes-backed Beach Energy. Shares in Origin, one of the country’s largest energy suppliers, fell 8 per cent on Friday when a months-long arbitration between the two companies landed on a gas price that one analyst described as...

‘Messy’ Woodside CEO transition casts cloud Apr 14, 2021 – 6.09pm Save Share A CEO transition deemed “messy” by some observers has increased uncertainty over the future leadership of Woodside Petroleum and cast doubt on its targeted go-ahead this year for the $16 billion Scarborough LNG project in Western Australia. The unexpectedly early departure of Peter Coleman as chief executive – brought forward by up to eight months to next Monday – is expected to be a key focus at the company’s annual shareholder meeting in Perth on Thursday. Mr Coleman, who has...

AGL stokes demerger talk after huge loss Updated Save Share Pre-tax profit ($m) -3000 vs 453 Net profit ($m) -2287 v 323 Interim dividend 41c v 47c, payable on March 26 AGL Energy has stoked speculation it is mulling a demerger or break-up as it grapples with an expected permanent softening in power prices as renewable energy floods the market and customer demand for low-carbon energy accelerates. The giant electricity and gas supplier will cut spending and costs after posting a $2.29 billion bottom-line loss for the first half, dragged down by heavy write-downs advised last week. Underlying...