Gorgon could be delayed until 2016

AUSTRALIA'S largest gas project Gorgon could be delayed until at least 2016 as joint venture partners Chevron and Shell differ on the expected start-up date.

It follows a series of delays and cost blowouts to the massive $US54 billion ($A60.02 billion) liquefied natural gas (LNG) project in north Western Australia.

Shell chief executive Ben Van Beurden presented a table to analysts overnight showing the estimated start-up date for the massive 450 million ton project had been pushed back to between 2016 to 2018.

Shell's presentation in London contradicts lead partner's Chevron's assurances that the project is on track to begin in mid-2015.

Chevron this week reiterated its start-up date for first gas next year.

In December last year, Chevron pushed back the time-frame from the first quarter of 2015 and announced the cost of the project had blown out by $US2 billion to $US54 billion.

A spokeswoman for Royal Dutch Shell, which has a 25 per cent stake in Gorgon, referred questions about the start-up time to Chevron.

The original budgeted cost of Gorgon was $US37 billion when it was given the green light in 2009.

Earlier this week, Chevron said Gorgon was almost 80 per cent complete, with two thirds of the gas already committed to buyers.

Offshore pipelaying was now complete and 65 per cent of the LNG from Gorgon had been committed under long-term contracts.

Mr Beurden also reaffirmed the company's $US15 billion target for asset sales over 2014-15 but made no mention of whether it would include a sell down of its stake in Perth-based Woodside Petroleum.

Royal Dutch Shell, a joint venture partner in Woodside's Browse project in Western Australia, has previously indicated it will begin an asset sales program.

Analysts predict Shell could reap $US6.95 ($A7.82) billion by selling its 23.1 per cent interest in Woodside.

Mr Beurden said the company had already announced more than $US4.5 billion of asset sales, including equity in the Wheatstone LNG stake and downstream businesses in Australia.

"There are more divestments to come reaching an expected $US15 billion for 2014 and 2015 combined," Mr Beurden told analysts.

Shell also said start-up for its 110 million ton Prelude floating LNG project would be between 2016 2018.

23.46 | 0 komentar | Read More

Indigenous concerned about Cape York plan

TRADITIONAL owners on Queensland's Cape York say they need more time to consider the government's 20-year plan for the peninsula.

About 10 indigenous groups say they want the March 25 deadline for submissions on the Cape York regional plan extended because of the significance of the plan.

The draft, released in November, outlines future land use for the region - mapping areas where development may be considered and areas of high environmental value.

Laura traditional owner Desmond Tayley says indigenous land owners, who will be affected most by the land use changes, weren't consulted before the draft was drawn up.

"This could be one of the biggest plans that affects how we do business on Cape York," he told AAP on Friday.

"The cultural heritage aspects are not really recognised in this plan ... the traditional owners and land owners have never really been consulted."

Mr Tayley says although the government spoke with Cape York councils, this didn't necessarily mean traditional owners were consulted.

He also wants similar protections offered to the Steve Irwin Wildlife Reserve, where mining has been banned, extended to include rock art sites in and around Laura.

Traditional owners from Western Yalanji, Mapoon, Pormpuraaw, Archer Point, Olkola, Lockhardt River, Chuula, Batavia Downs and the Wenlock Catchment Group have also expressed concern.

Deputy Premier Jeff Seeney says the draft plan was developed in close consultation with traditional owners and discussions will extend beyond the official March 25 deadline.

"The Queensland government is prepared to take as long as is necessary to get this plan right," he said in a statement.

"I can reassure communities on the Cape that all their submissions and comments will be considered in finalisation of the plan."

The 28 members of the Cape York Regional Planning Committee includes MPs, mayors, green groups and resource sector representatives.

The government has said the plan encourages economic growth, while green groups say it opens up vast areas of the cape to mining.

23.46 | 0 komentar | Read More

Vic MP recovering after surgery

A VICTORIAN MP who underwent surgery to remove a cancerous tumour is now on the road to recovery.

The member for Carrum, Donna Bauer, had surgery last Saturday to remove a large growth that was discovered during a routine medical check.

Doctors are confident that the tumour, which turned out to be an aggressive localised cancer, has been contained and successfully removed.

As a safeguard, Mrs Bauer will undergo a six-month course of chemotherapy.

The MP has assured constituents that her office remains open for business and she has thanked the community for their support.

23.46 | 0 komentar | Read More

Jakarta governor to run for president

INDONESIA'S main opposition party has nominated popular Jakarta governor Joko Widodo as its candidate for July's presidential election.

"To the people of Indonesia, please give your support to Mr Joko Widodo as the candidate of the Indonesian Democratic Party of Struggle," the party's deputy chairwoman Puan Maharani, daughter of former president Megawati Sukarnoputri, said at a press conference.

Recent polls suggest that Widodo, a former furniture businessman and mayor of Solo in Central Java province, would win the election if it were held now.

Widodo rose to political prominence as Solo mayor thanks to his hands-on leadership style and programmes including free healthcare and education.

As governor, he has a reputation for paying frequent visits to Jakarta's slums, and is known for riding a bicycle to work.

"I have been given a mandate by PDI-P chairwoman Madam Megawati Sukarnoputri to be the presidential candidate of PDI Perjuangan," Widodo said during a visit to a Jakarta neighbourhood.

Analysts say the party is hoping Widodo's nomination will boost its support in the April 9 legislative elections.

The popularity of the ruling Democratic Party, led by President Susilo Bambang Yudhoyono, has been declining following a series of corruption scandals.

23.46 | 0 komentar | Read More

US producer prices dip

THE prices US companies receive for goods and services fell slightly in February, the latest sign inflation is tame.

The Labor Department says the producer price index, which measures price changes before they reach the consumer, dropped 0.1 per cent in February.

That's the first decline since November. A sharp fall in the price mark-ups by wholesalers and retailers pushed down the index.

Wholesale food and energy prices increased, as did the cost of pharmaceuticals.

Excluding the volatile categories of food, energy and retailer and wholesaler profit margins, core prices ticked up 0.1 per cent.

The figures underscore that US inflation remains largely in check.

Businesses have struggled to raise prices because of historically high levels of unemployment and meagre wage growth. That's made it harder for consumers to pay more.

23.46 | 0 komentar | Read More

US retail sales rebounded 0.3 per cent

US retail sales have bounced back after suffering a steep decline during a bitterly cold January, with people spending more on cars, clothing and furniture.

The Commerce Department said on Thursday seasonally-adjusted retail sales rose 0.3 per cent in February. Spending had fallen 0.6 per cent in January and 0.3 per cent in December.

The increase suggests consumer spending has started to recover after being tempered by snowstorms and freezing temperatures that blanketed much of the country.

Auto sales rose 0.3 per cent. Excluding volatile spending on cars, petrol and building supplies, retail sales increased 0.3 per cent from December.

Last month's rebound almost brought retail spending back to its December levels. Purchases at restaurants, online retailers and department stores also improved.

Over the past 12 months, retail sales have risen 1.5 per cent.

23.47 | 0 komentar | Read More

Hip-hop pioneers want NYC museum

THE pioneers of hip-hop are hoping to create a museum in the Bronx dedicated to the genre.

Organisers say the project would be called the Universal Hip Hop Museum.

Afrika Bambaataa says the museum would look at the historical and cultural roots of hip-hop and the contributions made by break dancers and disc jockeys.

Bambaataa is frequently called the father of hip-hop. He would serve as the museum's chairman.

The museum hopes to open in 2017 inside the Kingsbridge Armory, which is being redeveloped into a national ice sports centre. The plan was announced at a news conference on Wednesday.

Bambaataa says many people think of rappers when they hear the word hip-hop. But he says there's a whole culture and movement behind it.

23.47 | 0 komentar | Read More