Energy Update
SYDNEY, Nov 30 (Reuters) - Australian Prime Minister Malcolm
Turnbull secured the passage of some cornerstone legislation on
Wednesday but quickly suffered an embarrassing defeat of a
government plan for a lower "backpacker tax" on work done by
young, foreign visitors.
SINGAPORE, Nov 30 (Reuters) - Indonesia's Pertamina
is seeking a new crude processing agreement for its
2017 Iraqi crude allocations as the firm's current processing
agreement with Shell expires in December.
Nov 30 (Reuters) - Australian shares edged lower on
Wednesday as material stocks slumped in line with iron ore and
steel prices ahead an OPEC meeting aimed at striking a deal to
cut oil output in a bid to boost crude prices that have halved
since 2014.
NEW YORK/HOUSTON, Nov 30 (Reuters) - In a corner of the
prolific Bakken shale play in North Dakota, oil companies can
now pump crude at a price almost as low as that enjoyed by OPEC
giants Iran and Iraq.
(Wed, 30 Nov 2016) The sulfur content of transportation fuels has been declining for many years as a result of increasingly stringent regulations. New international regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in 2020, have further implications for both refiners and vessel operators at a time of high uncertainty in future crude oil prices, which will be a major factor in their operational decisions.
MELBOURNE, Nov 30 (Reuters) - Australia is targeting the oil
and gas industry for a tax review ahead of next year's budget,
in a push to boost revenue after a sharp slump over the past
three years and collect more from multinational giants.
ITU ABA, South China Sea, Nov 30 (Reuters) - Taiwan held
rescue drills on Tuesday off the coast of its sole outpost in
the Spratly Islands of the South China Sea, but the biggest
claimant in the disputed waters kept uncharacteristically quiet.
* Kerosene sales seen firm in Dec as cold continues
* JX sees domestic kerosene sales seen up 25 pct yr/yr
MELBOURNE, Nov 30 (Reuters) - Australia is targeting the oil
and gas industry for a tax review ahead of next year's budget,
in a push to boost revenue after a sharp slump over the past
three years and collect more from multinational giants.
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