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The average price per barrel of oil fetched by Santos last year, at $US87.60, was well blow 2022’s $US110.10.

Labor sends emergency delegation to defuse Asian gas alarm

Senior officials will travel to Asia this week in an attempt to douse a growing diplomatic crisis in countries unsettled by Australia’s plans for a gas reservation.

  • Nick Toscano and Mike Foley

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A Japanese LNG tanker arrives at a Tokyo Gas terminal in Yokohama.

‘Deep concerns’: Labor gas plan triggers alarm in Asia

A new federal mandate for LNG exporters to keep more gas in Australia is threatening to strain critical trade relationships in Asia at a sensitive time.

  • Nick Toscano
Rescue workers prepare to descend into the coal mine that was the scene of a deadly explosion.

A deadly mine blast in China killed 82. A crackdown could squeeze coal production

The accident has triggered a vast rescue operation with hundreds of emergency workers, promises of an “uncompromising” investigation and an intervention from President Xi Jinping.

  • Bloomberg News and Reuters
Chris Bowen and Angus Taylor: The so-called Climate Wars have ignited again.

Coal comfort: Taylor kicks off Climate War 3.0 in shift from nuclear

The Coalition is upping the ante with an aggressive energy policy designed to tackle the government’s climate agenda and the One Nation insurgency.

  • Mike Foley
The federal government has been forced to spend billions due to the fallout of the war.

Trump’s war is costing the budget billions – and counting

The federal government has been forced to spend billions to deal with the fallout from the war in the Middle East.

  • Matthew Knott and Mike Foley
The closure, and periodic reopening, of the Strait of Hormuz to oil tankers (pictured) has played havoc with global prices.

Oil-price bets ahead of Iran war news totalled $7 billion, reporting shows

The transactions appeared “well informed” and are now subject to an investigation by US authorities as the Trump administration warns against insider trading.

  • Amanda Cooper and Dmitry Zhdannikov
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Premier David Crisafulli (right) speaks alongside with BP Country President Paul Auge (left) at Bulwer Island.

BP secures 35-year Brisbane lease as state moves to secure fuel pipeline

The premier has fast-tracked a long-term lease for the oil giant near the Port of Brisbane, paving the way for a 100-million-litre fuel storage expansion.

  • Catherine Strohfeldt
Most of the gas produced on the east coast is converted into LNG and exported. The federal government is developing a scheme to force producers to reserve some for the domestic market.

Australia is one of the world’s biggest gas exporters. Labor will now force companies to save some

The prime minister has rejected a campaign to increase taxes on gas exports, but the industry is no fan of the plan for an east coast reservation scheme.

  • Mike Foley and Nick Toscano
Prime Minister Anthony Albanese and Energy Minister Chris Bowen.

Australia to boost fuel stockpile to 50 days under $10b package as oil crisis worsens

The new fuel-security package marks a major policy shift as the government seeks to tackle the impacts of the Iran war.

  • Mike Foley, Brittany Busch and Nick Toscano
Anthony Albanese last week touring Jurong Island, Singapore’s oil hub.

Warnings over Russian ‘blood oil’ as Asian fuel imports increase

Labor’s diplomatic mission to shore up Australia’s supply is under fire, with warnings the dash for fuel is funnelling billions into Russia’s “war machine”.

  • Angus Delaney