Royal Dutch Shell says it has made a final investment decision to develop the first phase of Australia's biggest coal seam gas resource in Queensland.
The first phase of the $10 billion Surat Gas Project would bring as much as 90 billion cubic feet per year of new natural gas to market at peak production, Shell said in a statement.
The project is being developed by a Shell and PetroChina joint venture called Arrow Energy. Construction will start this year and its first gas sales are expected in 2021.
Coca Cola Amatil has signalled $140 million in savings through several measures to weather the coronavirus.
The company also said non-critical projects had been deferred, reducing capital expenditure for FY2020 from $300 million to $200 million.
Jewelry group Michael Hill suffered an 11.9 percent dive in third-quarter revenue across its global network. The group said its 300-odd stores across Australia, Canada and New Zealand recorded $105.06 million in revenue for the quarter - down from $119.3 million.
Shares in the company were worth 36 cents before trade on Friday and have nearly halved in value in 2020 so far against a 19 percent downturn for the ASX/200.
As per the latest data released by the ABS, the trend monthly hours worked remained unchanged between February and March 2020. This resulted slowing growth in hours worked in recent months.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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