Market Chatter: Environmentalists, Fishers Concerned about Spill Risk from Woodside's Western Australia Gas Project, ABC News Says

MT Newswires Live

4 hours ago

A coalition of environmentalists and fishers expressed concern about the risk of a potential oil spill from Woodside Energy Group's (ASX:WDS) planned Browse gas project offshore Western Australia, ABC News reported on Monday.

A credible scenario of a potential well blowout would lead to the spilling of around 5,600 barrels of condensate over 12 hours, according to Woodside. However, a catastrophic scenario could lead to nearly 900,000 barrels of condensate spilling over 77 days.

The opponents criticized the firm's oil spill containment methods, including pyrotechnic shear rams, capping stacks, and relief wells. The project is currently before the state's Environmental Protection Authority. The oil and gas firm earlier amended the project proposal to relocate a drill center away from turtle nesting grounds and decrease its overall project footprint after an earlier preliminary rejection.

Woodside's shares fell 1% in recent trading on Monday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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However, a catastrophic scenario could lead to nearly 900,000 barrels of condensate spilling over 77 days.</p><p>The opponents criticized the firm's oil spill containment methods, including pyrotechnic shear rams, capping stacks, and relief wells. The project is currently before the state's Environmental Protection Authority. The oil and gas firm earlier amended the project proposal to relocate a drill center away from turtle nesting grounds and decrease its overall project footprint after an earlier preliminary rejection.</p><p>Woodside's shares fell 1% in recent trading on Monday.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GUSH","symbol_name":"Direxion Daily S&P Oil &Gas Exp. & Prod. 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However, a catastrophic scenario could lead to nearly 900,000 barrels of condensate spilling over 77 days.The opponents criticized the firm's oil spill containment methods, including pyrotechnic shear rams, capping stacks, and relief wells. The project is currently before the state's Environmental Protection Authority. The oil and gas firm earlier amended the project proposal to relocate a drill center away from turtle nesting grounds and decrease its overall project footprint after an earlier preliminary rejection.Woodside's shares fell 1% in recent trading on Monday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}