Brace for tough budget

Treasurer warns that Japan, floods and oil will bring fiscal caution, writes Clancy Yeates.

Oil amidst turmoil

THE recent jolt to Japan's economy, by lowering energy demand, has at least temporarily offset the Libyan uprising's impact on oil prices. But experts say there are limits to how long that buffering effect might last.

When intervening in a conflict, stick to UN script

The international military intervention in Libya is not about bombing for democracy or Muammar Gaddafi��s head ��� let alone keeping oil prices down or profits up. Legally, morally, politically and militarily it has only one justification: protecting to the extent possible the country��s people from the kind of murderous harm that Gaddafi inflicted on unarmed protesters four weeks ago, has continued to apply to those who oppose him in the areas he controls, and has promised to inflict on anyone against him should his forces recapture Benghazi and other rebel-held ground. And when that job is done, the military��s job will be done. Any regime change is for the Libyan people themselves to achieve.

Oil shock could turn UK green

BRITAIN is facing a 1970s-style "oil price shock" that could wipe 45 billion ($A72 billion) from its economy, Climate and Energy Minister Chris Huhne warned in his first intervention on the issue since the start of the Middle East political crisis.

Mid-East unrest raises fears of second recession

FEARS of a double-dip recession in Europe and a shattering of global recovery loomed as oil prices climbed closer to levels not seen since the financial crisis.

Oil price fears send investors running for safety

INCREASING violence in the Middle East and fears it could spill in to big oil producers like Saudi Arabia pushed the bourse into its longest losing streak in eight months.

Middle East unrest to push fuel to $1.50 a litre

THE turmoil in the Middle East could spill over into household budgets, costing families an extra $360 a year as the price of oil surges.

Santos oils gears for change in contracts

SANTOS has produced a better than expected full-year result, a 46 per cent jump in underlying profit to $376 million.

Santos posts huge jump in earnings

SANTOS has produced a better than expected full-year result ��� a 46 per cent increase in underlying profit to $376 million.

Qantas to lift airfares as oil price rise bites

QANTAS is to increase airfares this month, blaming a surge in the price of oil and jet fuel.

Oil soars on unrest in Egypt, US spending

OIL traded near its highest in more than two years in New York yesterday, with Brent crude breaking $US100 a barrel as unrest in Egypt increased concerns of supply disruption.

Cairo chaos spurs selloffs

THE sharemarket is expected to open lower this morning after sell-offs in foreign markets, as protests seeking to overthrow Egyptian President Hosni Mubarak unsettled investors and pushed oil prices up.

Shares set to fall as unrest in Egypt rattles investors

THE sharemarket is expected to open lower this morning after sell-offs in foreign markets as demonstrations seeking to overthrow Egypt's President Hosni Mubarak unsettled investors and pushed oil prices up.

Santos in Woodside crosshairs

WOODSIDE is rumoured to be contemplating a $15 billion bid for Santos to grab its gas export interests, most notably its exposure to the budding Queensland gas export industry.

Jobs data puts paid to early stock gains

THE national employment figures and inflation data from China dragged stocks lower yesterday.

Briefs

Second tilt at Lift

Santos hints it will give final nod to Gladstone gas project

SANTOS says consolidation in the Queensland liquefied natural gas market is "unlikely and difficult", giving its strongest indication yet that it will go ahead with its $8 billion gas project in Gladstone.

Santos likely to go it alone in Gladstone LNG project

SANTOS says consolidation in the Queensland liquefied natural gas market is now "unlikely and difficult", giving its strongest indication that its $8 billion gas project will get the green light later this year.

Jetstar deal flies well but don't expect cheap seats MARKET INTELLIGENCE

YOU'VE got to hand it to Alan Joyce, the disarmingly amiable Irish expat in charge of Qantas. He can see a rip-roaring opportunity and deliver it for sure.

Liquefied gas is looking solid

Not only is demand for LNG rising but analysts say its price could hit all-time highs within a few years.