|Bid||33.59 x 0|
|Ask||33.60 x 0|
|Day's range||33.26 - 33.88|
|52-week range||29.33 - 39.38|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||22.69|
|Earnings date||15 Aug. 2019|
|Forward dividend & yield||2.54 (7.09%)|
|1y target est||27.09|
If you are wondering what stocks you should sell or avoid as we head into next month’s reporting season, it could be useful to heed the shares that got knocked on the head with a “sell” recommendation by top brokers.
ASX oil and gas stocks are underperforming the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index this morning after the IEA cut its forecast due to the trade-war induced global economic slowdown.
Lendlease Group (ASX:LLC), Newcrest Mining Limited (ASX:NCM), Oil Search Limited (ASX:OSH) shares will be on watch on Friday on the ASX 200. Here's why...
The Woodside Petroleum Ltd (ASX: WPL) share price is trading lower this morning after the company reported its second-quarter results.
Weaker LNG prices and a maintenance extension at its Pluto facility has pushed Woodside's revenue down by about one-third in the second quarter.
A solid increase in half-year output and revenue couldn’t save the Oil Search Limited (ASX: OSH) share price from slipping lower. Here's what you need to know.
(Bloomberg) -- Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.Chevron and its partner Woodside Petroleum Ltd. earlier this year had announced they’d applied to expand the capacity of their LNG project in Kitimat, British Columbia, by as much as 80% to 18 million metric tons a year.That triggered a new federal screening of the project that’s expected to “commence shortly,” according to a July 8 letter filed by Chevron to the provincial environmental assessment office. As part of the fresh round of approvals sought, the project is proposing to become an “all-electric plant” powered by hydroelectricity, allowing expanded capacity without the corresponding increase in emissions of a traditional LNG facility, the letter said.LNG is created by cooling gas to minus 260 degrees Fahrenheit (minus 127 degrees Celsius) in an energy-intensive process typically powered by burning natural gas. Kitimat LNG instead proposes electric motor drives totaling 700 megawatts to run all liquefaction, utility compressors, pumps and fans with hydro-power bought from the provincial utility, according to its revised project description dated July 8. It will have backup diesel power generators on site for emergencies.The proposed plant “will achieve the lowest emissions intensity of any large-scale LNG facility in the world,” according to the project description. Kitimat LNG will produce less than 0.1 ton of carbon dioxide equivalent for every ton of LNG compared with a global average of more than 0.3 ton of CO2 equivalent, according to the document.All-electric LNG plants are still uncommon, according to Alex Munton, principal analyst for Americas LNG at Wood Mackenzie in Houston. The only large-scale, electric-drive LNG plant under construction in North America is Freeport LNG in Texas, he said.Kitimat LNG’s decision to go with an electric design may increase the project’s costs. “If you’re installing turbines that are gas-fired and your fuel is very low-cost gas -- and the outlook for Canadian gas prices if very low long term -- then it’s difficult to beat that using electricity,” said Munton. “But clearly there’s a consideration around carbon taxation and how that affects the economics.” The carbon tax on LNG projects in British Columbia will rise to C$50 ($38) a ton by 2021 from C$40 at present.Chevron and Woodside expect to make a final investment decision in 2022 to 2023 with production starting by 2029, according to the project description. The revised proposal may trigger the need for a federal environmental assessment, according to the document.(Updates with analyst comment starting in sixth paragraph)To contact the reporter on this story: Natalie Obiko Pearson in Vancouver at firstname.lastname@example.orgTo contact the editors responsible for this story: David Scanlan at email@example.com, Carlos Caminada, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Don’t give up on the underperforming ASX oil & gas sector. Depite the headwinds, the outlook for the sector is starting to improve.
This may be as good as it gets for the Woodside Petroleum Limited (ASX: WPL) share price, which has outperformed the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) this year.
Evolution Mining Ltd (ASX:EVN), National Australia Bank Ltd (ASX:NAB), and Woodside Petroleum Limited (ASX:WPL) shares will be on watch on the ASX 200 index on Thursday...
By buying an index fund, investors can approximate the average market return. But if you buy good businesses at...
Peter Coleman became the CEO of Woodside Petroleum Ltd (ASX:WPL) in 2011. First, this article will compare CEO...
Afterpay Touch Group Ltd (ASX:APT), News Corp. (ASX:NWS), and Oil Search Limited (ASX:OSH) shares will be on watch on the ASX 200 on Monday...
(Bloomberg) -- Kuwait plans to boost production from Canadian shale deposits by two thirds and increase output of natural gas in Australia as the OPEC member ramps up efforts to find and develop overseas deposits of the fuel.The international upstream arm of state-owned Kuwait Petroleum Corp. sees output of almost 20,000 barrels of oil equivalent a day at its Canadian shale gas project by year-end, up from 12,000 currently, Sheikh Nawaf Saud Al-Sabah, acting chief executive officer, said in an interview in Kuwait City.“It will rise to about 60,000 or so once we fully develop it, which will be in the mid-2020s,” he said. “We’re just beginning to understand its potential.”In Australia, the company known as Kufpec won exploration rights to three new blocks in February and April. It’s producing almost 40,000 barrels of oil equivalent a day in that country and aims to raise output and produce more liquefied natural gas for export, Al-Sabah said, without specifying targets.Kuwait has long planned to increase its global capacity to produce gas as well as oil. The Persian Gulf nation currently can pump as much as 3 million barrels a day of crude from its wholly owned fields, and KPC targets a daily capacity of 4 million by next year. As a member of the Organization of Petroleum Exporting Countries, however, Kuwait has pledged to cap its oil output as the group seeks to balance the market and prop up crude.Like many energy producers, Kuwait sees gas as crucial to future growth. Gas use is seen rising faster than demand for oil and coal as policies shift toward lower carbon emissions. The amount of new gas-production capacity investments this year could set a record, according to consultant Wood Mackenzie Ltd.In Alberta, Canada, Kufpec plans with its joint-venture partner Chevron Corp. to start developing the Waskahigan and East Kaybob areas, drilling the first of more than 370 wells over 10 years. The areas are part of the Kaybob Duvernay project producing shale gas and natural gas liquids.“We continue to look for gas prospects in Australia,” Al-Sabah said. Kufpec partnered with Woodside Petroleum Ltd. at one of its blocks there, and Al-Sabah’s company is exporting gas via Woodside’s Wheatstone LNG facility. Kufpec sells half its production from there under long-term agreements.Buyers’ Market“The other half is sold with a break clause that allows us to take those molecules to Kuwait if and when we need it,” he said. “Right now the LNG market is essentially a buyers’ market, so it doesn’t make sense for us to break a long-term contract” just to sell to KPC when it can get competitive pricing elsewhere, he said.LNG producers have feared that a massive build-out of new export projects, which began a decade ago, will outpace consumption growth and leave cargoes looking for homes. Spot prices have already tumbled since last fall and are at a steep discount to LNG sold on long-term, oil-linked contracts.Kufpec, known formally as Kuwait Foreign Petroleum Exploration Co., may supply KPC when the global market tightens, possibly by the mid-2020s, Al-Sabah said.More from the interview:The company has total assets of 3.4 billion dinars ($11.2 billion) and is well-funded right now for its current plans“We need one or two more strategic acquisitions over the next couple of years to close our strategic gap” Kufpec currently pumps 120,000 barrels a day of oil equivalent and plans to reach 150,000 by 2020It wants to help tap Kuwait’s “tremendous” shale gas reserves at some point\--With assistance from Anthony DiPaola and Mohammed Aly Sergie.To contact the reporter on this story: Fiona MacDonald in Kuwait at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, Bruce Stanley, Helen RobertsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Altium Limited (ASX:ALU), Oil Search Limited (ASX:OSH), and Rio Tinto Limited (ASX:RIO) shares will be on watch on the ASX 200 index on Wednesday...
BHP Group Ltd (ASX:BHP), Oil Search Limited (ASX:OSH), and Woodside Petroleum Limited (ASX:WPL) shares could be on the rise today after oil prices surged higher...