Wednesday, 20 February 2019 Sydney

Invest In Australia Blog::

  • ACCC authorises WA and NT LNG producers

    The ACCC has authorised Chevron, INPEX, Shell and Woodside (ASX:WPL) to coordinate maintenance activities at their LNG facilities in Western Australia and Northern Territory. 

    The four LNG producers compete for a limited pool of skilled contractors and specialised equipment to conduct scheduled maintenance.

    “LNG producers can now schedule maintenance together without risking breaching competition laws, reducing concurrent work at their facilities. This will improve efficiency and maximise LNG production,” ACCC Chairman Rod Sims said.

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  • Draft decision for joint marketing of NT gas

    The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to authorise joint gas marketing arrangements between Central Petroleum (ASX: CTP) and Macquarie Mereenie.

    Central and Macquarie are joint venture partners at the Mereenie oil and gas field, which is located in the Amadeus Basin in the Northern Territory, approximately 250 km west of Alice Springs.

    In order to allow the development of Mereenie gas as soon as possible, the ACCC has granted interim authorisation, which allows the parties to begin negotiating joint supply agreements with customers pending the ACCC’s final determination.

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  • Woolworths allegedly misleads on environmental claims

    The ACCC has taken action against Woolworths Limited (Woolworths) in the Federal Court, alleging that the environmental representations Woolworths made about its ‘W Select eco’ picnic products were false, misleading or deceptive, in contravention of the Australian Consumer Law.

    From November 2014 to November 2017, Woolworths labelled disposable bowls, plates and cutlery in its ‘W Select eco’ line as ‘Biodegradable and Compostable’. The ACCC alleges that by these labels Woolworths represented to consumers that the products would biodegrade and compost within a reasonable period of time when disposed of in domestic compost bins or conventional landfill sites in Australia.

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  • Oyster Virus Detected In Port River

    Primary Industries and Regions South Australia (PIRSA) advises that the Pacific Oyster Mortality Syndrome (POMS) virus has been detected in feral Pacific Oysters in the Port River. At this stage POMS has not been detected in South Australian oyster farming areas.

    Samples taken during routine surveillance of the Port River area detected the POMS virus. Additional testing of these samples, carried out by the Australian Animal Health Laboratory (Geelong), confirmed the results on 28 February 2018.

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  • Draft decision on Port of Brisbane and Carnival agreement

    The ACCC is proposing to allow arrangements between the Port of Brisbane and Carnival Cruise Line that will support the development of a new $158 million dedicated cruise liner terminal in Brisbane.

    The parties have sought authorisation for an agreement between them under which Carnival will be bound by take or pay obligations for the new terminal, meaning Carnival will pay a fixed yearly amount to the Port over the term of the 15 year agreement.

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  • ACCC flags concerns about Saputo-Murray Goulburn deal

    The ACCC says its concerns around the proposed acquisition of the assets of Murray Goulburn (ASX:MGC) by Saputo are solely in relation to Murray Goulburn’s Koroit dairy plant in western Victoria, in particular the impact the acquisition will have on competition for farmers’ milk in the area.

    The ACCC outlined its concerns in a Statement of Issues paper today and is seeking responses from interested parties by 13 March.

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  • Lord Mayor Backs Tram Extensions

    Since early 2016, this group has been working together to advocate for tram extensions, with the Lord Mayor hosting a light rail summit at Adelaide Town Hall in April 2016. Council subsequently affirmed its support for an expanded tram network in May 2016.

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  • Victorian lamb on the menu in China

    China’s expanding middle class is dishing up export opportunities for Victorian lamb producers. 

    While sitting down to a Sunday lamb roast is a well-established tradition for many Australians, what’s less known is that demand for this much-loved meat is on the rise in China.

    Australian lamb is tipped to be served in greater numbers in China in the coming years, thanks to growing demand for Western proteins being driven by an expanding middle class, whose ranks are expected to top 850 million by 2030. *

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  • Fintech business lenders move to increase transparency

    The Australian Small Business and Family Enterprise Ombudsman, FinTech Australia and today joined forces to release a report which outlines the steps taken by fintech lenders to increase transparency and disclosure.

    The report, Fintech lending to small and medium sized enterprises: Improving transparency and disclosure, analyses the different approaches to disclosure across the fintech industry and makes recommendations on best practice and identifies commitments to action.

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  • Ombudsman supports primary producer loan changes

    The Private Member’s Bill introduced by Rebekha Sharkie MP would provide legislated protection to small family businesses in a capital intensive industry, such as farming, Australian Small Business and Family Enterprise Ombudsman, Kate Carnell said today.

    The Banking Amendment (Rural Finance Reform) Bill 2018 was introduced to the Lower House yesterday, requesting greater transparency and longer notice periods when lenders make decisions on the conditions of primary producer loan agreements.

    “During our Small Business Loan Inquiry, we consulted with a number of small business owners involved in primary production,” Ms Carnell said.

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