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Oil and Gas News

New-look M&R to transfer listing to Diversified Industrials board from Heavy Construction

By: Terence Creamer     Updated 5 hours ago Murray & Roberts (M&R) has confirmed that its application to transfer its listing from the ‘Construction and Materials’ sector of the JSE to the ‘General Industrials’ sector has been approved and that the change will become effective from Monday, March 20. From that date, the company will trade... 

Higher prices, volumes boost Beach's interim profits

By: Esmarie Swanepoel     Updated 7 hours ago Oil and gas producer Beach Energy has doubled its net profit to A$103.4-million for the interim period to December 31, as a result of higher prices and volumes. Revenue was up 26% year-on-year to A$354.4-million. 

Sherritt to ramp up 2017 capex as it resumes oil & gas drilling, Ambatovy charges

By: Henry Lazenby     18th February 2017 Diversified miner Sherritt International says it expects to increase capital expenditure (capex) on new mining development and fleet upgrades this year. The Toronto-headquartered company said the majority of its $129-million capex budget for this year will be focused on completing the first Block... 

Santos reports massive loss on GLNG impairment, lower oil prices

By: Esmarie Swanepoel     17th February 2017 Oil and gas major Santos has recorded a net loss of more than $1-billion for 2016, on the back of a $1.1-billion impairment charge on its Gladstone liquefied natural gas (GLGN) asset and lower oil prices. Excluding impairments and other significant items, the company reported an underlying profit... 

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

MAC laments Canada’s declining mining competitiveness
Photo by Agnico Eagle Mines
Agnico Eagle's Meadowbank mine, Nunavut

New US President may benefit the resources sector

By: Henry Lazenby     17th February 2017 While US President Donald Trump is likely to lower US corporate taxes, bringing US dollars back into the country and rebuilding American infrastructure through a massive $1-trillion spending programme, Trump is coming in at the “US midnight” Euro Pacific Capital analyst Peter Schiff says. Markets... 

New US President may benefit the resources sector

Origin widens H1 loss on $1.4bn impairment

By: Esmarie Swanepoel     16th February 2017 Oil and gas major Origin Energy has widened its pre-tax loss to $1.6-billion for the six months to December 31, compared with a loss of $154-million in the previous corresponding period, after incurring a $1.4-billion impairment. Revenue for the half-year increased to $6-billion, from the... 

Origin warns of A$1.9bn impairment

By: Esmarie Swanepoel     15th February 2017 Oil and gas major Origin Energy has warned of a A$1.9-billion post-tax impairment charge for the 2017 financial year. The company told shareholders that its Australia Pacific liquefied natural gas (APLNG) joint venture recognised an impairment charge on its assets, with Origin expected to reflect... 

Woodside's Tremaine appointed Origin CFO

By: Esmarie Swanepoel     14th February 2017 ASX-listed Origin Energy has appointed fellow-listed Woodside’s Lawrie Tremaine as its new CFO. Tremaine is current executive VP and CFO at Woodside, and was previously employed by aluminium major Alcoa in senior financial roles during a 17-year career. 

Glencore’s DRC copper top-up wins analyst cheer

By: Martin Creamer     14th February 2017 Diversified mining and marketing company Glencore has bought the remaining 31% stake in Mutanda Mining for $922-million and a further 10.25% stake in Katanga Mining for $38-million from Dan Gertler’s Fleurette Group, the company’s joint venture partner. The all-cash transaction will result in... 

Glencore’s DRC copper top-up wins analyst cheer
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Qld govt throws open Surat for development

By: Esmarie Swanepoel     10th February 2017 The Queensland government has called on gas producers to bid for the right to extract gas from the coal seam gas- (CSG-) rich Surat basin as part of its Australia-only gas pilot project. Minister for State Development and Natural Resources and Mines Dr Anthony Lynham on Friday announced the start... 

Qld govt throws open Surat for development

MCA laments Victoria opposition party’s support for ban on onshore gas

By: Esmarie Swanepoel     10th February 2017 The Minerals Council of Australia (MCA) has slammed the Victorian opposition’s support of a ban on onshore gas developments, saying the party had been cowered by a political scare campaign. “This is a weak, politically expedient decision that confirms the Victorian opposition has been captured... 

Specialist aims to step up offering at Kibali

By: Simone Liedtke     10th February 2017 Condition-monitoring specialist WearCheck hopes to discuss with the engineering management team whether there is an opportunity to roll out its reliability services at the developing Kibali gold mine, in the Democratic Republic of Congo (DRC), where it opened its eleventh laboratory last year. 

Specialist aims to step up offering at Kibali

BHP approves $2.2bn investment for Mad Dog 2 development

By: Esmarie Swanepoel     9th February 2017 Diversified miner BHP Billiton has approved a $2.2-billion investment for its share of the Mad Dog Phase 2 development, in the Gulf of Mexico. The Mad Dog Phase 2 project, in which BHP holds a 23.9% interest, is a southern and south-western extension of the existing Mad Dog field, and includes a... 

Canada's TMX seeks part of Saudi Aramco listing

By: Reuters     8th February 2017 Toronto Stock Exchange owner TMX Group Ltd said on Wednesday it was pitching the energy-rich bourse to "Saudi officials of significant influence" to bring at least part of the kingdom's massive Saudi Aramco public listing to Canada. Saudi Arabia expects to value the state-owned oil producer at a... 

US Army Corps of Engineers notifies Congress it will allow DAPL easement

By: Henry Lazenby     8th February 2017 The US Army Corps of Engineers (USACE) has notified Congress that it will allow the Dakota Access Pipeline (DAPL) to move forward. The Justice Department filed court documents stating that the USACE will allow the pipeline to go under Lake Oahe, in North Dakota. The crossing is needed to complete... 

Victorian Coalition lends it support to ban fracking

By: Esmarie Swanepoel     8th February 2017 Victoria is poised to become the first state to permanently ban unconventional gas mining after the Victorian Coalition announced that it would vote in support of the ban on fracking. Reports have emerged that the coalition would not oppose the Resources Legislation Amendment (Fracking Ban) Bill... 

Peru says Petroperu may sell bonds this year for refinery work

By: Reuters     7th February 2017 Peru's state-owned energy company Petroperu might sell an "important" amount of bonds this year to help finance the $3.5-billion expansion of its Talara refinery, the energy and mines minister said on Monday. Energy and Mines Minister Gonzalo Tamayo told a press conference that a bond issuance... 

NSW Environmental Protection Agency fines Origin over dust pollution

By: Esmarie Swanepoel     6th February 2017 Oil and gas major Origin Energy has been fined A$15 000 by the New South Wales Environmental Protection Agency (EPA) after dust from an ash dam at its Eraring power station was blown offsite during strong winds. The EPA inspected the site in September 2016 after receiving multiple complaints from... 

South Aus Energy Minister decries PM’s comments on renewables, coal 

By: Esmarie Swanepoel     3rd February 2017 South Australia’s state Energy Minister Tom Koutsantonis has lashed out at Prime Minister Malcolm Turnbull’s clean coal aspirations, saying his statements have no basis in reality. Turnbull earlier this week advocated the use of clean coal technology in Australia, saying the current... 

South Aus Energy Minister decries PM’s comments on renewables, coal

Senex raises A$55m as it pursues east coast gas opportunities

By: Esmarie Swanepoel     3rd February 2017 The Queensland government has welcomed the A$45.9-million investment from energy investor EIG Global Energy Partners into ASX-listed Senex Energy. Senex this week announced that it has raised A$55-million through a share placement to EIG and other institutional and sophisticated investors. 

Pumps manufacturer to launch mechatronics solution this quarter

By: Nadine James     3rd February 2017 Industrial equipment supplier Weir Minerals will launch its mechatronics solution, Synertrex, before the end of the first quarter. The solution leverages the Internet of Things (IoT) – combining integrated equipment technology with everyday electronic and mechanical equipment with network... 

Pumps manufacturer to launch mechatronics solution this quarter
PROBLEM PREDICTION Weir's design teams are looking for solutions to challenges that have yet to materialise

LNG investment falls as projects are completed - Deloitte

By: Esmarie Swanepoel     2nd February 2017 As investment in Australia's liquefied natural gas (LNG) sector falls to its lowest level since 2009, LNG exports are tipped to increase on the back of the completion of the Gorgon, Prelude and Ichthys developments this year. Advisory firm Deloitte Access Economics reported this week that the... 

US Army Corps ordered to expedite work on Dakota Access Pipeline easement

By: Henry Lazenby     1st February 2017 Acting Secretary of the Army Robert Speer has ordered the Army Corps of Engineers (USACE) to proceed with the easement needed to complete the Dakota Access Pipeline. “This will enable [Dakota Access] to complete the project, which can and will be built with the necessary safety features to... 

US Army Corps ordered to expedite work on Dakota Access Pipeline easement

Santos lodges application, EIS for NSW gas project

By: Esmarie Swanepoel     1st February 2017 Oil and gas major Santos has submitted a development application and environmental-impact statement (EIS) for its Narrabri gas project to the New South Wales government. Santos MD and CEO Kevin Gallagher said on Wednesday that the company had spent time producing a comprehensive EIS so the local... 

Santos lodges application, EIS for NSW gas project

Trump’s latest executive orders may be burdensome for oil

By: Bloomberg     1st February 2017 Oil-services giant Halliburton told employees to stay put. An oil trade group is concerned by the proposed border tax. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of... 

Consol mulls coal unit sale, spin-out

By: Henry Lazenby     1st February 2017 US fossil fuels producer Consol Energy is considering selling or spinning out its coal business as early as this year, the Pittsburgh-based energy company announced in its fourth-quarter earnings release on Tuesday. The plan is another step in the company’s strategy to separate its coal business... 

APLNG, Otway basin projects drive Origin production and revenue

By: Esmarie Swanepoel     31st January 2017 Oil and gas major Origin Energy reported 47% year-on-year and an 8% quarter-on-quarter production increases during the three months to December 31, helped by strong production from the  Australian Pacific liquefied natural gas (APLNG) and its Otway basin projects. Quarterly production increased... 

TransCanada reapplies for Keystone XL pipeline

By: Henry Lazenby     28th January 2017 A day after US President Donald Trump signed executive actions clearing the way for contentious oil pipelines to be built in the US, TransCanada on Thursday resubmitted its Presidential Permit application to the US Department of State for approval of the Keystone XL (KXL) pipeline. This is the... 

AME BC reports progress made on key policy issues amid rising commodity tide

By: Henry Lazenby     28th January 2017 Optimism has returned to the junior exploration industry, based on changed market fundamentals and more buoyant commodity prices, the Association for Mineral Exploration British Columbia (AME BC) president and CEO Gavin Dirom tells Mining Weekly Online in an interview. “It’s amazing what... 

AME BC reports progress made on key policy issues amid rising commodity tide
Photo by Henry Lazenby
AME BC chairperson and CEO Gavin Dirom

Inpex sticks to Ichthys start-up date despite power project blow

By: Esmarie Swanepoel     27th January 2017 Energy major Inpex has brushed off concerns about delays at its 8.9-million-tonne-a-year Ichthys liquefied natural gas (LNG) project, after project house UGL terminated its construction and commissioning contract of the combined cycle power plant (CCPP), in Darwin. The termination of the... 

Inpex sticks to Ichthys start-up date despite power project blow

Constitutional process preservation overshadows clarity of Bill

By: Nadine James     27th January 2017 It is preferable that constitutional processes be carried out properly when Bills are passed into law to avoid their subsequently being challenged in court, says law firm Hogan Lovells, responding to calls for expediency in terms of the Mineral and Petroleum Resource Development Act (MPRDA)... 

Constitutional process  preservation overshadows  clarity of Bill
FINAL ARBITER While the Mineral Resources Minister announced in 2016 that the Mineral and Petroleum Resource Development Act Bill would be progressed, the Minister is constrained by the constitutional processes

Further precedent set for inspectorate’s powers

By: Nadine James     27th January 2017 The Labour Court’s decision to set aside a Section 54 mine stoppage order that unjustifiably stopped operations at leading gold producer AngloGold Ashanti’s Kopanang mine, in the Free State, is pleasing, as it provides further legal precedent for the manner in which inspectors from the Department... 

Further precedent set for inspectorate’s powers
KATE COLLIER The negative impact of an unreasonable instruction or unnecessarily harsh enforcement cannot be overlooked

Indaba attendance expected to improve in line with investment climate

By: Nadine James     27th January 2017 The cyclical nature of mining continues to be reflected in the attendance figures of the yearly Investing in African Mining Indaba, which is expected to attract greater numbers in 2017, indicating an improvement in economic conditions and the mining investment environment, says event organiser... 

Indaba attendance expected to  improve in line with investment climate
HIGH PROFILE EVENT Twenty-four African Ministers, 30 investor company speakers and 35 mining company speakers will be in attendance at the 2017 event

Juniors to battle for project development prizes at Indaba

     27th January 2017 Identifying the best junior mining companies for investors and supporting the development of new projects is at the core of the annual Investing in African Mining Indaba, says event organiser Mining Indaba MD Alex Grose. 

Juniors to battle for project development prizes at Indaba
ALEX GROSE Participating junior miners will receive feedback from a judging panel comprising members from leading investment management groups at this year’s Investment Battlefield

Partnership to attract new investors, companies

By: Robyn Wilkinson     27th January 2017 Mining Indaba director of content Harry Chapman is confident that new investors and mining companies will be attracted to the 2017 Investment Discovery Forum (IDF) owing to its partnership with banking group Investec and investment services provider RBC Capital Markets, and programming that... 

Partnership to attract new investors, companies
FUNDING EXPANSION Guyana Goldfields will use the net proceeds of its bought deal financing to fund an expansion of its flagship Aurora gold mine in South America

Swiss company completes gas depot in Dodoma

     27th January 2017 In December, Swiss oil and gas product supplier Oryx Energies completed the construction of a new liquefied petroleum gas (LPG) cylinder filling and storage depot in Tanzania’s capital, Dodoma. This marked the end of a key phase of investment in new and upgraded LPG facilities across the country... 

Swiss company completes gas depot in Dodoma
GAS DEPOT Along with the Dodoma depot, Oryx has built iquefied petroleum gas cylinder filling and storage depots in Iringa and Zanzibar

Geoscience BC gets C$10m boost, publishes its largest geophysical survey

By: Henry Lazenby     26th January 2017 The British Columbia government has made C$10-million in funding available over two years to further support its work encouraging mineral, coal, and oil and gas exploration investment in the province, Premier Christy Clark announced this week at the Association for Mineral Exploration’s Roundup... 

Geoscience BC gets C$10m boost, publishes its largest geophysical survey
Photo by Geoscience BC
British Columbia Premier Christy Clark _ Geoscience BC
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