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Woodside has lost $1.5 billion in value after announcing a cost blowout on one of its LNG projects. The company has revealed its Pluto1 project in WA's northwest is over budget by almost $1 billion. It was due to start production in December, but that's been delayed until March next year. The announcement sent Woodside shares tumbling by almost 4 per cent.
Rio Tinto is expected to face court in Darwin over a petrol spill at its alumina refinery2 on the Gove Peninsula. Last year, the mining giant revealed that about 70,000 litres of unleaded petrol had leaked from an oil tank at its Alcan plant and into the soil below. The Territory Department of Resources has now decided3 to prosecute4 over the spill.
And the Greek government has named a new finance minister to tackle the country's crippling debt. The appointment of Evangelos Venizelos is part of a wider campaign of a cabinet reshuffle. It's hoped the new finance minister will be able to push through an austerity plan to avert5 bankruptcy6.
And hopes of a new bailout package for Greece have given the European markets a boost. The DAX is up 54 points and the FTSE gained 16. In the US, the Dow Jones and the NASDAQ traded higher. The local share market finished the week with slight gains. The All Ords was up about four points and the ASX200 was up just six.
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1 Pluto | |
n.冥王星 | |
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2 refinery | |
n.精炼厂,提炼厂 | |
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3 decided | |
adj.决定了的,坚决的;明显的,明确的 | |
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4 prosecute | |
vt.告发;进行;vi.告发,起诉,作检察官 | |
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5 avert | |
v.防止,避免;转移(目光、注意力等) | |
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6 bankruptcy | |
n.破产;无偿付能力 | |
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