Capital
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A consortium led by Abu Dhabi's National Oil Company (ADNOC) was granted a two-week extension to drill deeper into Santos’ (ASX: STO) books after bidding US$18.7 billion for Australia's second-biggest gas producer. The proposed deal may represent one of the most consequential transactions in the global energy sector but has red flags on regulatory hurdles, strategic alignment, and geopolitical risks. (AIInvest) (Reuters)
Tomago Aluminium will close in 2028, if not sooner, unless an affordable energy contract can be negotiated, smelter workers have been told. (Newcastle Herald)
Shares in Danish wind farm developer Orsted (ORSTED.CO) plunged by almost a third after it sought to raise US$9.4 billion in a rights issue on the back of adverse market developments in the US. (Reuters) (Heatmap)
Suspended production at a major lithium mine in China by the world’s biggest battery maker unleashed a huge rally in ASX-listed producers of the battery material. (AFR) (Reuters) (Bloomberg)
"CATL’s announcement will have an impact on supply, which has given the market another kick, but the question now is whether this is a short-term closure or part of a wider approach by China to reassess mining activities, in which case there could be longer-term implications.”
David Franklyn
Argonaut portfolio manager
Mineral Resources (ASX: MIN) formed a 50-50 joint venture with sustainable production and recycling tech firm Livium (ASX: LIT) to commercialise the small cap’s patented lithium processing technology. (Capital Brief)
 Projects
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US engineering firm Fluor (NYSE: FLR) must pay at least $692 million to Santos and its Gladstone LNG co-venturers, with further sums owing, and the final amount ordered in Santos’ favour - with interest plus legal costs - to be determined in coming weeks, after the Queensland Supreme Court ruled in favour of Santos over an engineering and construction contract that was part of the project.
Miner BHP said it would lead a consortium of steelmakers and other industrial giants in a pre-feasibility study for carbon capture utilisation and storage hubs across Asia.
Policy
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The Australian Electric Vehicle Association (AEVA) said the road user charge, currently under review by the federal Treasury with industry input, should not single out EVs to replace declining excise revenue. The consumer group said fuel excise should remain in place as a disincentive to driving petrol or diesel vehicles.
“A universal, mass x distance road user charge would serve the same role as fuel excise - a pay-by-use system which is proportional to the impact driving has on society and infrastructure. EV drivers don’t have a problem with it - we just want to ensure the system is fair.”
Chris Jones
AEVA National President
Western Australia’s major gas users, including mining companies and power generators, will have limited alternatives to gas for at least the next decade, but supply will begin to decline in just a few years, according to EnergyQuest. (Boiling Cold)
America's clean hydrogen dreams are fading, again (New York Times)
Technology
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The upcoming “three-day Canberra huddle” must recognise that the world is not waiting for us to become comfortable with artificial intelligence, and Australia, with its already dismal productivity record, is falling further behind every week, former NSW Liberal minister Pru Goward writes in the AFR.
Climate
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UK building rules focused on keeping warm in winter and saving on energy bills - not cooling - mean British housing is dangerously unprepared for climate change. (Guardian)
“What we are facing is climate brutality. That is the reality of the hotter weather coming down the track.”
Simon McWhirter
UK Green Building Council CEO
People
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Ex-Fortescue boss Fiona Hick and Stephen Mikkelsen, an AGL and Snowy Hydro veteran, join Origin Energy (ASX: ORG) as independent Non-executive Directors from August 18.
“Together, they bring to the board extensive experience in the energy and resources sector across finance, engineering, operations, technology implementation and health, safety and environment. The diverse background and skills of Fiona and Stephen will further strengthen the board as Origin continues to execute its energy transition strategy.”
Scott Perkins
Origin Chair
Research
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Support for energy, climate, and social policy depends on an individual’s energy insecurity, with the more “energy insecure” showing a greater preference for policies focused on the investment climate and compensation, according to London School of Economics Assistant Professor Liam F. Beiser-McGrath’s research paper in Energy Policy.