“We’re finding in this environment of high cost, low productivity, that developments we’ve done over the last 15 years, if we were to repeat them now you couldn’t do them,” Warren Ford, a deputy managing director of Apache in Australia said.
Apache Corp., the third largest U.S. independent oil and natural-gas producer, isn’t stopping any Australian projects “but the alarm bells are there,” Ford said.
This “alarm bell” comes after BHP had suspended plans to build a muti-billion-dollar coal mine in Queensland, “in response to the challenging external environment.”
It’s going to be interesting to see if the AUD/USD can hold up under continued signs of slowing in that sector.
