Woodside and FAR said on Friday an International Chamber of Commerce panel had ruled that FAR did not have a pre-emptive right to match the offer for the 35% stake in the Sangomar project that ConocoPhillips sold to Woodside in 2016 for just $350 million. FAR said it was reviewing the arbitration award.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Disruptions to coal mining in China because of the coronavirus are giving the coal market a rare cause for bullishness.For the past five months, Asian seaborne prices have been hovering near a three-year low on rising supply and soggy demand. But now, as the deadly epidemic hinders Chinese mines from restarting after the Lunar New Year holiday, the world’s biggest consumer is looking to import more and that’s giving prices a boost, according to traders and miners surveyed by ...
FAR also said the International Chamber of Commerce had approved the draft award in its long-running dispute with Woodside Petroleum over the right to pre-empt the sale of ConocoPhillips' stake in their joint venture to Woodside. Melbourne-based FAR holds a minority share in the joint venture that owns the project, which is operated by Woodside. The JV also includes Cairn Energy Plc and Senegal's state-owned Petrosen.
Moody's Investors Service ("Moody's") has today assigned a first-time issuer rating of Baa1 to Viva Energy REIT (VVR). VVR operates a portfolio of 464 freehold service stations located throughout Australia. Around 83% of the portfolio is located in Australia's more populous Eastern seaboard states of New South Wales, Victoria and Queensland, with around 74% (by value) located in metropolitan areas.
The oil and gas explorer, which operates the field, said the development plan and exploitation authorization request are the last major regulatory submissions required before joint venture participants make investment decisions this year. The first phase will develop 230 million barrels, with first oil targeted for early 2023, Woodside said.