Latest news with #KevinGallagher
AU Financial Review
3 days ago
- Business
- AU Financial Review
Kevin Gallagher avoids insider trading trial with settlement
Santos boss Kevin Gallagher has settled a six-year legal battle brought by the liquidators of collapsed contractor Forge Group on the eve of the trial, avoiding the need to defend insider trading claims from the witness box. The trial, pitting Forge Group against Perth-based engineering firm Clough and two former directors, had been due to begin in Western Australia's Supreme Court on Tuesday.
Sky News AU
5 days ago
- Business
- Sky News AU
Beach Energy boss Brett Woods slams Victoria's gas policy after Santos CEO Kevin Gallagher likens state to North Korea
Another CEO of a major Australian energy company has torn into the Victorian government's gas policy after the state was compared to North Korea last week. Victoria's handling of gas development and the state government's attitude towards investment came under fire when Santos chief executive Kevin Gallagher lashed out at a conference in Brisbane. 'If I think about Queensland, South Australia, Western Australia – these are very supportive, very development-friendly jurisdictions,' Mr Gallagher said. 'Victoria? North Korea. They're different altogether.' On the sidelines of the same conference, Beach Energy CEO Brett Woods said getting gas projects approved in Victoria had 'been a challenge'. 'Victoria still have had quite a negative policy in terms of what the role of gas is in the state,' Mr Woods said on Sky News' Business Weekend. 'I think the recognition now, with industry shutting down and foreclosures and other things, (is) that they need more gas. 'We're ready to help, we just want to get after our projects so we can move them forward.' Victoria continues to be the most gas-dependent state in the country as the fuel is critical for warming homes and businesses during winter. However, a green energy focus, depleting offshore gas supplies and historical moratorium banning gas exploration, which was lifted in 2022, means Victoria faces looming shortfalls and may have to begin importing liquefied natural gas in the coming years. Mr Woods said red tape and delays meant it took more than 40 approvals to get a single gas well online in Victoria. 'That was challenging. It took considerable time,' he said. 'That really challenges our ability to continue to explore and invest. I think in recent months we've seen positive energy out of Victoria to see more gas, so that's been great. 'But when you have these challenges, it's hard to bring shareholders and boards along to the journey about deploying company capital.' Victoria was formerly a major gas powerhouse and exported the fuel source to NSW and South Australia, however, concerns about the future of gas in the state are now common. The Australian Competition and Consumer Commission earlier this year warned about winter shortfalls in south-eastern states, while the Australian Energy Market Operator (AEMO) projects shortfalls during peak demand from 2028. AEMO also forecasted annual supply gaps from 2029. While some smaller players look for gas onshore, the major players are avoiding this and looking towards more development of offshore gas. ExxonMobil and Woodside have recently approved a $350m investment to launch new drilling projects in the Bass Strait, while ConocoPhillips will spend more than $100m on drilling two exploration wells in the area.
Sky News AU
29-05-2025
- Business
- Sky News AU
Santos CEO Kevin Gallagher likens Victoria to North Korea as debate over the state's gas policy rages
Victoria's handling of gas development has been panned as a major executive compared the state with North Korea when it comes to investment. Victoria continues to be the most gas-dependent state in the country as the fuel is critical for warming homes and businesses during winter. However, a green energy focus, depleting offshore gas supplies and historical moratorium banning gas exploration means Victoria faces looming shortfalls and may have to begin importing liquefied natural gas in the coming years. The dire energy situation plaguing the state sparked concerns amongst business leaders, particularly Santos chief executive Kevin Gallagher who lambasted Victoria's attitude toward investment. 'If I think about Queensland, South Australia, Western Australia – these are very supportive, very development-friendly jurisdictions. Victoria? North Korea. They're different altogether,' Mr Gallagher told an oil and gas conference in Brisbane. Victoria has historically been a major gas powerhouse and exported the fuel to New South Wales and South Australia. Low reserves in offshore gas plants and a historical moratorium banning the development of onshore gas, which was lifted in 2022, has led to concerns about the future of gas in the state. The Australian Competition and Consumer Commission earlier this year warned about winter shortfalls in south-eastern states, while the Australian Energy Market Operator (AEMO) projects shortfalls during peak demand from 2028. AEMO also forecasted annual supply gaps from 2029. While some smaller players look for gas onshore, the major players are avoiding this and looking towards more development of offshore gas. ExxonMobil and Woodside have recently approved a $350m investment to launch new drilling projects in the Bass Strait, while ConocoPhillips will spend more than $100m on drilling two exploration wells in the area. The Grattan Institute's energy director Tony Wood said Mr Gallagher's comments came in light of Victoria's mixed history with gas. 'I don't think it's true to say that Victoria, both onshore and offshore, is off limits to new gas,' Mr Wood told Sky News on Thursday. 'But you'd have to say, that history has probably coloured that view of Victoria and probably contributed to Kevin Gallagher's comments yesterday.' He noted the Victorian government's shift back towards gas was a step in the right direction after it ended the moratorium. 'There was too much of a move away from gas,' Mr Wood said. 'The gas wasn't gonna be in the future (but) there's a recognition now from the government to say: 'No, we understand. There is a role for gas here'. 'But you can see why those mixed messages would have influenced a lot of people in the gas industry.' Mr Gallagher's comment led to immediate backlash from Victorian Treasurer Jaclyn Symes who labelled the attack 'hysterical and unhinged'. 'Victoria has the strongest economic and investment growth of any other state,' Ms Symes told reporters. 'Anybody talking down Victoria is simply anti-Victorian.' It also faced criticism from Bruce Mountain, the director of the Victoria Energy Policy Centre, who noted industry had historically avoided some sources of gas. 'It's a bit of a cheap shot,' Mr Mountain told 'Victoria potentially has coal seam gas, but that's not been attractive to the Victorian people and consistently over time, both political parties have shied clear of it after having clearly experienced the opposition from the Victorian community and landholders.' Mr Mountain noted the lack of onshore gas in Victoria was a factor behind major companies avoiding looking into the areas. 'You can prospect for gas and there has long been a conventional gas programme and the Andrews government authorised it several years ago, but there's no evidence of any sizable conventional gas resource onshore in Victoria,' he said. 'There's nothing stopping Santos or others from seeking that resource and they haven't been stopped from it for several years. 'So I don't know what the specific issue is that he has.' Victoria banned new gas connections for homes and businesses from late 2024 in a bid to phase out the fossil fuel.
Yahoo
22-05-2025
- Yahoo
Diocese launches recovery fund to rebuild chapel in Mahanoy City
MAHANOY CITY — The damage can be repaired, but the shock wave triggered by the May 6 detonation of an explosive device by an intruder could have a lasting impact on the Solemn Perpetual Adoration of the Blessed Sacrament Chapel. After being open to worshippers around the clock for 43 years, access will be limited after the estimated $27,000 in damage is repaired and the chapel reopens. After dark, a security code or special access card will be required to gain entrance. 'I hate to do it,' confided Rev. Kevin Gallagher, 'but I had to take that extra step given what happened.' What happened was that an explosive device — possibly an M-80 or larger — was detonated at 9:02 p.m. on May 6 in the chapel next to St. Teresa of Calcutta Catholic Church. Placed on the altar, the device burned the altar cloth, shattered glass candleholders and scorched the monstrance, the ornate receptacle that contains the consecrated host. The shock wave was powerful enough to damage three stained glass windows and puncturing a hole in the aura of the Blessed Virgin Mary in one. The stained glass windows, transplanted from the former Sacred Heart Catholic Church in Mahanoy City, have to be removed for repair by a Pittsburgh company. Damage from the blast is estimated at $27,000, not including cleanup costs, Gallagher said. 'There's smoke and residue over everything,' said Gallagher, Teresa of Calcutta pastor. The Allentown Catholic Diocese has launched a St. Teresa Recovery Fund to assist the parish in repairing the damage. So far, the fund has raised $8,250, the Allentown Diocese reports. Donations can be made at Suspect in custody Kyle Kuczynski, 32, remains in Schuylkill County Prison, facing charges in connection with the chapel explosion. He has been charged with felony arson, reckless burning or exploding, possessing explosive or incendiary material, risking a catastrophe and related charges. His preliminary hearing is 10:30 a.m. June 19 in Magisterial District Judge Anthony Kilker's office, Shenandoah. Photographs from the chapel's security system show a person wearing a black hoodie leaving the chapel on May 6. In his hand is a black device, resembling an explosive, with a fuse at one end. Police have not released details about the device. Rev. Kevin Gallagher looks at the broken stained glass windows within the adoration chapel at Saint Teresa of Calcutta Catholic Church in Mahanoy City, Wednesday, May 21, 2025. (MATTHEW PERSCHALL/MULTIMEDIA EDITOR) The manufacture, sale, possession and use of M-80 explosive devices is illegal under federal and Pennsylvania law, according to the Crime Watch Pennsylvania website. Considered highly explosive devices, they contain ingredients capable of injuring or killing people. In the chapel Miraculously, a statue of the church's patron saint, Mother Teresa, holding baby Jesus was not damaged by the blast, though it was only a few feet away. A stained glass window depicting the Nativity wasn't as fortunate. Holes in a stained glass window were caused by a May 6 explosion in the adoration chapel at Saint Teresa of Calcutta Catholic Church in Mahanoy City, pictured Wednesday, May 21, 2025. (MATTHEW PERSCHALL/MULTIMEDIA EDITOR) The concussion from the ignition, perhaps an arm's-length away, blew holes in the window. A statue of St. Teresa of Calcutta inside the adoration chapel at Saint Teresa of Calcutta Catholic Church in Mahanoy City, Wednesday, May 21, 2025. (MATTHEW PERSCHALL/MULTIMEDIA EDITOR) A statue of the Blessed Mother nearby was damaged and has been sent to an artist in Mountain Top for reconditioning. The monstrance, held sacred by Catholics, has been sent to the St. Jude Shop in Philadelphia for repairs. 'The blast blew open the luna, a door at the rear through which the host is placed, and the Holy Sacrament was tossed out,' Gallagher said. The monstrance was donated by Joanne Bobbin, in memory of her family, he said. She's in her 80s, and still helps out at the church. On a recent visit to the chapel, Gallagher reflected on how it touches the lives of church members. When the churches consolidated, he was certain to relocate items from Polish, Slovak and other churches that we closing into what was formerly St. Joseph's, a Lithuanian church. It was his way of preserving some of their heritage. The 11 stained glass windows in the chapel were from Sacred Heart, an Italian parish. 'Many of the items in the chapel are of a personal nature to our parishioners,' Gallagher said. 'They're very important to them, and we want to restore them.'
Bloomberg
20-02-2025
- Business
- Bloomberg
Santos CEO on Profit Dip, Energy Demand & Outlook
Australian oil and gas producer Santos slashed its dividend as annual profit slipped in its full year results. However, CEO Kevin Gallagher also reassured the market about the on-time start-up of key new production projects in Australia and the US. He discusses the company's results and outlook in "Insight with Haslinda Amin". (Source: Bloomberg)
