Energy Update
SYDNEY, Dec 22 (Reuters) - Australia has cut its 2016 iron ore price forecast to $40.40 a tonne from $50 previously, citing rising supplies as global steel production contracts. "Increasing supply from Australia and Brazil is forecast to drive seaborne iron ore spot prices down in 2015 and 2016," Australia's Department of Industry, Innovation and Science said. (Reporting by James Regan; Editing by Ed Davies)
SYDNEY/WELLINGTON, Dec 22 (Reuters) - Australian shares, which have risen the past four days, were up again early Tuesday, helped by gains in energy and industrials, while New Zealand stocks also advanced.
SYDNEY, Dec 22 (Reuters) - Australia approved on Tuesday a controversial expansion of the Abbot Point coal terminal, which environmentalists fear will damage the Great Barrier Reef but supporters say is needed to protect the sector from decline.
South Korea-based Samsung Group's plant engineering unit Samsung Engineering has been awarded a $550m contract to provide engineering, procurement, construction and commissioning services for the second phase of the Antonio M. Amor Refinery in Salamanca, Mexico.
Concurrent with Khouzestan Oil Industry Exhibition two contracts regarding procuring oil industry’s equipment and spare parts was signed between National Iranian South Oilfields Company and domestic suppliers.
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