ENERGY

Queensland Rail did not achieve its coal-hauling obligations to the Dalrymple Bay Coal Terminal at Mackay, Rio Tinto Coal Australia claims, as the industry continues to battle the planned $3 billion float of QR's freight operations.

An alliance composed of APA Group, Japan's Marubeni and Origin Energy emerged as a key candidate for the Alinta Energy bid.

Power distributor Australian Power $ Gas said on Thursday that it has signed a three-year electricity supply deal with a major generator for its entry to the Queensland energy market as it increased forecast for customer growth and announced the availability of convertible note facility to be used for raising funds.

Cougar Energy Ltd has announced Monday that it sealed a deal with China’s Inner Mongolia Qi De Investment Co Ltd to jointly-develop an underground coal gasification (UCG) project site deep in the Inner Mongolia region of China.

Construction and energy biggie Leighton Holdings Ltd has reported on Monday that company net profit jumped by 82 percent as it listed an after tax earnings of $400.3 million in the past nine months ending in March 31 this year and subsequently reaffirmed its full year earnings guidance.

Energy utility company SP AusNet has reported that its full year net profit after tax (NPAT) jumped by 42.3 percent or $209 million in the March quarter as it cited that boosted activity from its new commercial arm, price increases and additional clients fuelled the recorded gain.

Critics are accusing the Northern Territory government of using taxpayers’ money to keep the Power and Water Corporation afloat as budget papers showed that the government has agreed to series of debt equity swaps with the corporation amidst the major upgrades that the company is currently undertaking.

Darwin lost its chance of hosting a $5 billion gas plant and expanding its Sunrise fields, following announcement by Woodside Petroleum Ltd that its joint venture partnership with ConocoPhillips, Shell and Osaka Gas, have opted to build instead a floating platform in the Timor Sea.

The Royal Dutch Shell has reported Wednesday that its net income for 2010’s first quarter soared up to 57 percent or $5.99 billion, as the oil company pointed to stable oil prices, production growth and earning good returns on instituted cost cutting

Caltex Australia Ltd has released on Thursday its unaudited first quarter profit which showed sales spikes of up to 33 percent or $130 million on a replacement cost of sales operating profit (RCOP) basis, as the oil company cautioned that its short term outlook is largely tentative at this stage.

The Energy Resources of Australia (ERA) has expressed optimism that the uranium market is bound for a more robust status over the long haul, as ERA chairman David Klingner is confident that nuclear power will remain as the forefront option for global energy solution.

Iron ore miner BHP Billiton disclosed today it will cooperate with US officials in an investigation on corruption with government officials.

Melbourne-based Macarthur Coal confirms today it will not pursue talks with Noble Group regarding its Gloucester Coal takeover bid.

Newcrest Mining announced today it is ready to make some changes regarding its takeover bid for Lihir Gold, presenting the shareholders a mix of either shares or cash.

Hong Kong-based Noble Group on Monday night pulled the plug on its fight for Macarthur Coal.