Stegra的动态

Woodside has organised a site visit to Pluto, apparently to show case progress on Scarborough. (https://lnkd.in/grYdyRAt) I recommend that any investor who attends this, reflect on a few issues prior to the visit to contextualise the information that Woodside will share. Firstly, Woodside has underperformed the MSCI World Energy sector on a 3, 5, 10 and 15 year period. The Energy Sector, has in turn, underperformed the broader market. Secondly, Pluto 1 was late and over budget, with our analysis suggesting that it eroded $2.8 billion (Real 2007) (https://lnkd.in/gehdCjAB, p 13). This more than offsets any value created by Scarborough, meaning that the Pluto/Scarborough precinct has, overall, eroded shareholder value. Thirdly, Woodside has a poor track record with greenfields project development: - Pluto 1 was delivered 80% over budget and 2 years late (https://lnkd.in/gbJwTi3j pp 9, 10) - The recently commissioned Sangomar was 18% over budget and a year late (https://lnkd.in/gehdCjAB p?13) - Despite Woodside’s CEO saying the lessons from Sangomar had been learned and applied to Scarborough, Scarborough is currently 4% over budget. Whilst we support Woodside’s “commitment to shareholder returns” (https://lnkd.in/grYdyRAt p6) we encourage investors to query how the recent acquisitions of Louisiana LNG and the Beaumont ammonia project are consistent with this commitment.

WA State Budget 2024/25 AMEC welcomes significant infrastructure and asset investment from Treasurer Rita Saffioti MLA, as she delivered her first budget today. Combined with funding to deliver regulatory and approvals reform, these measures will help release considerable new investment in our State. The $100 million commitment to develop a Critical Minerals Advanced Processing (CMAP) facility, is a common-user initiative AMEC called for in 2021. We are pleased to see it now emerge and developed into a sophisticated and costed proposal. It also closely aligns with the Federal Government’s Future Made in Australia vision. Chief Executive Warren Pearce said, “The WA Government is investing in plug and play industrial land, desperately needed environmental reform and a critical minerals advanced process facility." “This state of the art facility will assist WA critical mineral developers to finalise their processing and refining methodologies and explore greater value adding opportunities.” The $500m Strategic Industries Fund will also address major under-investment in the State’s industrial precincts, and develop project ready land so that WA can attract new industrial investment. For more, read AMEC’s media release: https://ow.ly/j7mA50RA489

GFL Environmental Inc., which has lost $2.2-billion since the start of 2020, has become vulnerable to buyout offers in recent months because its shares sold off amid concerns about its debt load. The company has grown through debt-fuelled acquisitions, and the growing expectation that higher interest rates will remain in the United States, where GFL issues most of its debt, had investors worried about borrowing costs and the potential to fund future acquisitions. https://lnkd.in/gtSWXkug

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Australian Oil Company Limited Managing Director Kane Marshall answers key questions about the company's future and the oil industry's role in the global economy: ?? Who is Australian Oil Co, and what does the company stand for? ?? What can investors look forward to over the next three months? ?? How important is the oil industry to economic growth and stability? ?? What drives Kane to get out of bed every day? Get a behind-the-scenes look at the company’s mission, upcoming projects, and what motivates the team to innovate and grow. Jordan McArthur Stewart Walters Holly Walters Riley Maring #AustralianOilCo #KaneMarshall #OilIndustry #Energy #Investing #Sustainability #EconomicGrowth

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