financetom
Business
financetom
/
Business
/
Chevron Australia signs long-term gas supply deal with Alcoa
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chevron Australia signs long-term gas supply deal with Alcoa
Dec 16, 2024 8:03 PM

(Reuters) - U.S. oil giant Chevron's ( CVX ) Australian unit said on Tuesday it would supply a total of 130 petajoules of gas to aluminium producer Alcoa ( AA ) over a 10-year period starting 2028.

The gas will be supplied from Chevron's ( CVX ) 530 terajoules-a-day Gorgon and Wheatstone facilities, and North West Shelf Venture in the state of Western Australia, Chevron Australia said in a statement.

Separately, Alcoa ( AA ) said the gas would be used to power its alumina refineries in Western Australia.

Alcoa ( AA ) had previously secured gas supply deals with Chevron ( CVX ), Warrego Energy and Exxon Mobil ( XOM ) in 2020 to power its Kwinana, Pinjarra and Wagerup alumina refineries in the state from 2024 onwards.

However, the aluminium company said in January that it would stop production at the Kwinana refinery, citing challenging market conditions and the facility's age.

A spokesperson from Alcoa ( AA ) said an unexpected gas disruption and subsequent power outage at its Pinjarra Alumina Refinery on Tuesday had impacted process flow.

"Alcoa ( AA ) continues to restore refining operations at the site and the cause of the disruption is being investigated," the spokesperson said.

(Reporting by Aaditya Govind Rao in Bengaluru and Melanie Burton in Melbourne; Editing by Subhranshu Sahu)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Pfizer Unusual Options Activity
Pfizer Unusual Options Activity
May 2, 2024
Investors with a lot of money to spend have taken a bearish stance on Pfizer ( PFE ) . And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big...
Crew Energy's Rating Confirmed at DBRS
Crew Energy's Rating Confirmed at DBRS
May 2, 2024
09:46 AM EDT, 05/02/2024 (MT Newswires) -- DBRS on Wednesday confirmed Crew Energy's ( CWEGF ) B (high) credit rating with a stable trend. The rating agency noted that a rating upgrade is not possible in the medium term without a material improvement in the company's business risk profile. The natural gas company's stock rose over 1% on last look...
Pinnacle West Capital posts Q1 profit on customer growth, new rates
Pinnacle West Capital posts Q1 profit on customer growth, new rates
May 2, 2024
May 2 (Reuters) - Pinnacle West Capital Corp ( PNW ) posted a quarterly profit from year-ago loss on Thursday, on the back of customer growth, increased sales and new rates. Utility companies use General Rate Case (GRC) proceedings to increase consumer electricity prices to ask for an increase in rates on the basis of its total cost of providing...
Ford's Total Vehicle Sales Fall 2.4% Year Over Year in April
Ford's Total Vehicle Sales Fall 2.4% Year Over Year in April
May 2, 2024
09:42 AM EDT, 05/02/2024 (MT Newswires) -- Ford Motor ( F ) sold 179,588 vehicles in April, down from 184,002 the year before, the company said Thursday. Ford reported increases in electric and hybrid vehicle sales to 8,019 and 17,997 from 3,499 and 11,282, respectively. However, sales of internal combustion vehicles fell to 153,572 from 169,221. Price: 12.42, Change: +0.22,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved