Queensland Gas Company's former Managing Director, Richard Cottee, has been recognised as a 'legend' of the Australian oil and gas industry after being awarded the title at the Legends in Oil and Gas awards function held in Sydney.
Asian major indexes were higher Friday after a late-day recovery in the U.S. market. Japan's Nikkei 225 closed up 0.96%, while Korea's Kospi ended 0.5% higher. Shanghai Composite surged 3% to over 2300 points, Hong Kong's Hang Seng Index added 2.47% and Taiwan's main index up 2.1%.
On Friday, the Australian shares reversed an early fall despite the negative leads overnight on overseas markets. The benchmark S&P/ASX200 index closed up 14.5 points, or 0.41 per cent, at 3,540.7, while the broader All Ordinaries index had gained 16.8 points, or 0.49 per cent, to 3,478.1. This week traders are awaiting RBA's aggressive rate cut which is expected to announced when its board meets on Tuesday.
Mission NewEnergy Limited (ASX:MBT)(PINK:MIBFF), as one of the very few biofuels companies that has successfully progressed beyond the project development stage into ongoing profitable operations, was delighted to post its maiden profit in financial year 2008 and expects to operate profitably in 2009.
The production of commercially viable syngas has been confirmed at Carbon Energy's (ASX:CNX) Underground Coal Gasification (UCG) plant in southeast Queensland, the company announced today.
Yesterday, the Australian shares closed lower as investors were leaving the market before Christmas. On Monday, the benchmark S&P/ASX200 index was down 58.3 points, or 1.61%, at 3557.4 points, while the broader All Ordinaries index was 54.9 points, or 1.55% lower, at 3492.3 points. Analysts said the loss was larger than expected, and the negative news from the world markets would impact on the local market.
Yesterday the Australian shares ended flat as weaker Commonwealth Bank and energy stocks weighed on the market. The benchmark S&P/ASX200 index was up 10.6 points, or 0.3 per cent, at 3,581.2, while the broader All Ordinaries index gained 6.7 points, or 0.19 per cent, to 3,521.7. It could be fairly quiet during the pre-Christmas sessions. But the local market may be hit by the dropping commodities prices and the fears on US auto industry as US government has admitted that orderly bankruptcy can be one of the options for the troubled automakers.
