Energy

Followers of the nickel sector are expecting further takeover activity after Swiss group Xstrata stunned the market with a $3.1 billion bid for Perth-based Jubilee Mines NL.

Xstrata meets with WA government to discuss its $3.1b Jubilee takeover; Harold Clough quits Clough board after family sell down; Coventry rose by 3pcts yesterday; WA Department of Agriculture quits involvement in wheat breeding; Myer staff wins pay rise.

Specialist mining and energy software developer ISS Group Ltd has disclosed that its European office has concluded a purchase agreement with BG International, formerly British Gas.

Perth-based gas developer Po Valley Energy Ltd has awarded a $10 million contract for its first production plant in Itay, which is targeted to start producing in the third quarter of next year.

Specialist engineering company Neptune Marine Services Ltd has continued its rapid expansion by announcing plans to acquire Aberdeen-based Ross Deeptech Initiatives Ltd for $25 million in cash.

This week, as Prime Minister John Howard incurred the wrath of dog-walkers and Opposition Leader Kevin Rudd was ticked off by angry choristers, the economy remained the number one issue as the consumer price index was released.

South Perth-based energy company Aviva Corporation Ltd will incorporate emissions technology for carbon capture, desulfurisation and air cooling in its Coolimba Power project, south of Eneabba.

West Perth-based Liquefied Natural Gas Ltd has announced plans to spin out subsidiary Gas Link Global Ltd after completing a capital restructure on the company and raising $7.5 million.

ARC Energy Ltd has negotiated deals to buy oil producer Anzon Australia Ltd and its UK parent company Anzon Energy Ltd, creating a merged group with a market value of about $1.1 billion.