From the AFR:
Chevron has suffered a cost blowout of almost $10 billion at its Gorgon liquefied natural gas venture in Western Australia, with labour costs, poor productivity, logistics problems and weather delays taking the budget up to $52 billion.
More upgrades to Australia’s spending pipeline! But seriously, this is not as bad as feared, though still awful. Capacity was also raised by 4% and the shipping date pushed back to early 2015.
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