Advertisement
Singapore markets open in 1 hour 58 minutes

  • Straits Times Index

    3,272.72
    +47.55 (+1.47%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Bitcoin USD

    66,367.08
    -680.03 (-1.01%)
     

  • CMC Crypto 200

    1,429.94
    +15.18 (+1.07%)
     

  • FTSE 100

    8,044.81
    +20.94 (+0.26%)
     

  • Gold

    2,336.00
    -6.10 (-0.26%)
     

  • Crude Oil

    83.44
    +0.08 (+0.10%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • Nikkei

    37,552.16
    +113.55 (+0.30%)
     

  • Hang Seng

    16,828.93
    +317.24 (+1.92%)
     

  • FTSE Bursa Malaysia

    1,561.64
    +2.05 (+0.13%)
     

  • Jakarta Composite Index

    7,110.81
    -7,073.82 (-49.87%)
     

  • PSE Index

    6,506.80
    +62.72 (+0.97%)
     

ExxonMobil, BHP to spend 188 million pounds to replace Australian pipeline

Reuters

MELBOURNE (Reuters) - ExxonMobil Corp (XOM.N) and BHP Billiton (BHP.AX) have agreed to spend about A$400 million (188 million pounds) to replace a pipeline that transports crude oil and condensate between two of their sites in Australia's Victoria state, ExxonMobil said on Friday.

The project comes at a time when Australia is counting on infrastructure investment to help offset a bust in mining and energy projects.

ExxonMobil and BHP Billiton (BLT.L), 50-50 joint venture partners in the Gippsland Basin, will be replacing a 187 km (116 mile) pipeline, with construction expected to generate around 500 jobs at its peak.

Construction is expected to begin in late 2015, pending regulatory approval.

(Reporting by Sonali Paul; Editing by Richard Pullin)