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Oil and Gas News

North American Aboriginals, First Nations join hands to thwart domestic oil development 

By: Henry Lazenby     23rd September 2016 Canadian and Northern US Aboriginal groups and First Nations have, this week, adopted the Treaty Alliance Against Tar Sands Expansion, seeking to officially prohibit and collectively challenge and resist oil sands industry expansion in Alberta. This extends to preventing the transport of such... 

Appea blasts greens report on fracking

By: Esmarie Swanepoel     22nd September 2016 The Australian Petroleum Production and Exploration Association (Appea) has slammed a report released by the Western Rivers Alliance, which warned of the alleged dangers of unconventional oil and gas extraction in the Channel Country in outback Australia. The report highlights a number of risks... 

Appea blasts greens report on fracking

Santos appoints new CFO

By: Esmarie Swanepoel     20th September 2016 Oil and gas giant Santos has appointed Anthony Neilson as its new CFO, replacing Andrew Seaton, who recently announced his retirement. Neilson is the current CEO of Roc Oil, and has previously held commercial, finance and business services roles at Caltex Australia, Credit Suisse First Boston and... 

ACCC urges gas development in NT

By: Esmarie Swanepoel     16th September 2016 The Australian Competition and Consumer Commission (ACCC) has urged the Northern Territory government to duly consider its onshore gas development strategy. ACCC chairperson Rod Sims said at the South East Asia Australia Offshore & Onshore Conference that the Northern Territory had the... 

ACCC urges gas development in NT

US mining industry in flux as policy, economic and enviro challenges force change

By: Henry Lazenby     16th September 2016 The outcome of the November 2016 US Presidential election will not reverse the decline in the US mining industry’s value, as the beleaguered coal industry continues to face market headwinds. Rather, the results will determine the trajectory of environmental regulations and, therefore, raise or... 

US mining industry in flux as policy, economic and enviro challenges force change

MGX solves oil well lithium brine separation conundrum through buying clean-tech developer

By: Henry Lazenby     16th September 2016 Canadian diversified project developer MGX Minerals has signed a binding letter of intent to buy a 50% stake in clean-technology developer PurLucid Treatment Solution for staged payments of C$5-million over two years. The transaction represents a solution to MGX’s dilemma of separating oil, to a... 

Mining-sector fuel supplier in BEE transaction

By: Ilan Solomons     16th September 2016 Mining industry direct fuel supplier Masana Petroleum Solutions has completed a transaction with a new broad-based black economic-empowerment (BBBEE) consortium. The new partners have attained a 35% stake in the business after two of its founding shareholders exercised their right to realise... 

Mining-sector fuel supplier in BEE transaction
Photo by Duane Daws
PAUL NKUNA The new consortium consists of three black-owned venture capital firms, namely Ata Capital, Kwande Capital and Identity Capital partners

US mining industry in flux as policy, economic and enviro challenges force change

By: Henry Lazenby     16th September 2016 The outcome of the November 2016 US presidential election will not reverse the decline in the US mining industry value, as the beleaguered coal industry continues to face market headwinds. Rather, the results will determine the trajectory of environmental regulations and, therefore, raise or... 

US mining industry in flux as policy, economic and enviro challenges force change

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Greens apply for drilling ban in Great Australian Bight

By: Esmarie Swanepoel     15th September 2016 The Australian Petroleum Production and Exploration Association (Appea) has warned that banning oil and gas exploration in the Great Australian Bight could potentially increase Australia’s reliance on imported oil and deprive South Australia of much-needed new investment and jobs while delivering... 

Greens apply for drilling ban in Great Australian Bight

Trudeau said to plan pipeline approval, favour Kinder Morgan

By: Bloomberg     14th September 2016 Canadian Prime Minister Justin Trudeau plans to approve at least one new oil pipeline project in his first term, with Kinder Morgan’s Trans Mountain expansion to the Pacific Coast the most likely candidate, people familiar with his plans said. The prime minister is seeking to strengthen... 

Icahn endorses Freeport's efforts to reduce debt, explore options

By: Reuters     13th September 2016 Activist investor Carl Icahn, the third-largest shareholder in Freeport McMoran, said on Tuesday that he endorsed the US miner's efforts to reduce debt and explore strategic alternatives. Icahn's comments come a day after Freeport said it would sell its deepwater Gulf of Mexico oil and natural... 

Anadarko to buy Freeport’s deepwater Gulf of Mexico assets for $2bn

By: Henry Lazenby     13th September 2016 Anadarko Petroleum said Monday after market close that it would buy deepwater Gulf of Mexico assets from Freeport McMoRan for $2-billion. It will pay for the acquisition through a new stock offering of 40.54-million shares, including an overallotment option, which is valued at $2.34-billion at... 

Anadarko to buy Freeport’s deepwater Gulf of Mexico assets for $2bn

NEB adjourns Energy East hearings

By: Henry Lazenby     12th September 2016 The National Energy Board (NEB) on Friday announced that the panel hearing public comments on TransCanada’s Energy East application and the Eastern Mainline Project application had been disbanded. The NEB was forced to cancel hearings in Montreal last month after protestors disrupted proceedings. 

New port terminal starts construction in Gladstone

By: Esmarie Swanepoel     9th September 2016 Construction on a new A$17-million marine operations terminal at the Gladstone port, in Queensland, has officially started. Queensland Treasurer Curtis Pitt said on Friday that the investment by the Gladstone liquefied natural gas (GLNG) and Queensland Curtis LNG (QCLNG) projects was a positive... 

Origin appoints new CEO

By: Esmarie Swanepoel     9th September 2016 ASX-listed Origin Energy has appointed Frank Calabria, the current CEO of its energy markets business, as the new MD and CEO to replace Grant King, who will retire at the end of October. Calabria joined Origin as CFO in 2001, and was appointed as the CEO of the energy markets business in 2009. He... 

S Australia launches gas incentive scheme

By: Esmarie Swanepoel     8th September 2016 The Australian Petroleum Production and Exploration Association (Appea) has welcomed a A$24-million incentive from the South Australian government to increase energy market competition, drive down costs for businesses and consumers and reduce carbon emissions. The incentive programme is aimed at... 

S Australia launches gas incentive scheme

Rising unrest in Venezuela dims India's hopes of recovering dues

By: Ajoy K Das     7th September 2016 India’s hopes of recovering an estimated $600-million to $700-million from Venezuela on behalf of its oil industry have dimmed following the social and economic unrest in the Latin American country. Even India's proposal to offset the dues against oil imports from that country has not received... 

APLNG gains greater access to eastern market

By: Esmarie Swanepoel     6th September 2016 Australia Pacific Liquefied Natural Gas (APLNG) has signed a 20-year gas transportation agreement with infrastructure provider APA Group, which will give it greater access to the domestic east coast gas market. Under the terms of the agreement, APA will build an A$80-million, 50 km bidirectional... 

Woodside buys BHP gas assets

By: Esmarie Swanepoel     5th September 2016 Australian oil and gas major Woodside will acquire half of mining giant BHP Billiton’s Scarborough gas assets, offshore Western Australia. The two companies on Monday announced the signing of a sale and purchase agreement under which Woodside would pay BHP $250-milion and a contingent payment of... 

Woodside buys BHP gas assets

At least eight oil companies to bid in Mexico Trion tender – sources

By: Reuters     1st September 2016 At least eight large oil companies will participate in Mexico's tender to partner with state oil company Pemex to develop the deep-water Trion field in the Gulf of Mexico, two sources from the National Hydrocarbons Commission (CNH) said. Mexican subsidiaries of BHP Billiton, BP, Chevron, Inpex,... 

Brazil, Petrobras to revise subsalt oil contract terms this year

By: Reuters     31st August 2016 The Brazilian government and State-controlled oil company Petróleo Brasileiro could finalise a thorough revision of contractual terms for the exploration of a vast offshore oil region before year-end, a senior official said on Wednesday. The revision of a clause granting Petrobras the right to... 

Victoria premier moves to ban unconventional gas development in the state

By: Samantha Herbst     31st August 2016 Spearheaded by Victoria state premier David Andrews, the Labour government on Tuesday put forward a permanent ban on the exploration and development of all onshore unconventional gas in the state, including hydraulic fracturing (fracking) and coal seam gas. The proposed permanent legislative ban,... 

Protesters shut down TransCanada pipeline hearing in Montreal

By: Reuters     29th August 2016 Canada's National Energy Board cancelled the first day of hearings on TransCanada Corp's proposed Energy East pipeline in Montreal on Monday after protesters disrupted the panel session, an agency spokesperson said. Montreal police said three protesters were arrested on obstruction charges, with... 

Protesters shut down TransCanada pipeline hearing in Montreal

International Frontier formalises partnership with Mexican govt over Tecolutla JV

By: Henry Lazenby     27th August 2016 TSX-V-listed International Frontier Resources (IFR) announced Friday that Tonalli Energia met all the terms and conditions and signed a license contract with the Mexico Comision Nacional de Hidrocarburos (CNH) for the Onshore Oil and Gas Development Block 24 (Tecolutla), granting Tonalli the... 

Indo-Russia Summit expected to fast-track mining, hydrocarbon collaboration projects

By: Ajoy K Das     26th August 2016 The forthcoming yearly Indo-Russia Summit, in October, is expected to lay down the framework for scaling up bilateral engagements in the mining, energy and hydrocarbon sectors, wherein mega marquee investments have already been put on the anvil. While the bilateral agreements up for discussion... 

Despite commodity slump, M&R bets future on resources 

By: Terence Creamer     25th August 2016 Murray & Roberts (M&R) CEO Henry Laas says the decision to sell its infrastructure and building unit, as well as Genrec, to create a multinational project company focused on oil and gas, underground mining, as well as power and water has created an entity that no longer fits neatly within the... 

Despite commodity slump, M&R bets future on resources
Photo by Duane Daws
Murray & Roberts CEO Henry Laas

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Tightening supply should bode well for commodity prices – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Trudeau faces split Aboriginal groups in Kinder Morgan ruling 

By: Bloomberg     24th August 2016 In the rolling country of central British Columbia, Michael LeBourdais’s Whispering Pines Indian Band is looking forward to a cash injection from a new pipeline proposed by Kinder Morgan Energy Partners LP. He’ll be seeking compensation for his band if it doesn’t go through. Meanwhile, 400 km... 

Venezuela ordered to pay $2.17bn to Russian junior for 2011 project expropriation

By: Henry Lazenby     23rd August 2016 The government of the Bolivarian Republic of Venezuela has been ordered to pay a Russian-owned junior mining company nearly $2.2-billion in compensation and interest for illegally expropriating the company’s assets without compensation in 2011. Following the news, Rusoro Mining’s TSX-V-listed... 

Venezuela ordered to pay $2.17bn to Russian junior for 2011 project expropriation

ConocoPhillips’ JV partner says it has pre-emption right over Senegal assets

By: Mariaan Webb     23rd August 2016 Oil and gas major Woodside’s planned acquisition of exploration assets in Senegal may be challenged by junior explorer FAR, which has a right of pre-emption over the proposed sale. FAR is US energy group ConocoPhillips’s joint venture (JV) partner in the Senegal exploration assets and the company... 

Santos posts half-year loss on impairment, sales up

By: Megan van Wyngaardt     19th August 2016 Oil and gas developer Santos on Friday reported disappointing results, with a first half net loss of $1.1-billion, impacted significantly by an impairment charge for the Gladstone liquefied natural gas (GLNG) project of $1.05-billion after tax and lower oil prices. The company earlier said it was... 

Woodside's half-year profit halves

By: Mariaan Webb     19th August 2016 The profit of Australia’s largest oil and gas producer Woodside halved in the first six months of 2016, weighed down by the lower oil price, but CEO Peter Coleman said on Friday that the group was in a “robust position” to improve its performance into 2017. Net profit after tax plunged to... 

Woodside's half-year profit halves
Woodside CEO Peter Coleman

Santos flags $1bn Gladstone LNG charge on gas supply

By: Bloomberg     15th August 2016 antos will take a $1.05-billion writedown on its Gladstone LNG project due to rising prices for third-party gas supplies and slower-than-expected ramp up of its own equity output to feed the export project. The non-cash charge on the liquefied natural gas (LNG) development in Queensland, which... 

Glencore guiding higher ferrochrome, nickel output

By: Martin Creamer     11th August 2016 Diversified mining and marketing company Glencore on Thursday guided higher 2016 ferrochrome and nickel production – the only two commodities it expects to produce at levels higher than in 2015. Reporting lower half-year production of copper, zinc, lead, coal and oil than in the first six months... 

Glencore guiding higher ferrochrome, nickel output
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

India's government placates opposition, but to auction oil, gas blocks

By: Ajoy K Das     10th August 2016 The Indian government has clarified that oil exploration and production (E&P) companies are eligible to bid in a competitive bidding process for 67 marginal oil- and gasfields. These marginal oil- and gasfields, which were formerly owned by State-owned E&P majors such as ONGC Limited and Oil... 

Suncor expands reach in UK’s North Sea basin

By: Henry Lazenby     9th August 2016 Canadian oil and gas major Suncor Energy will acquire a 30% participating interest in the UK North Sea Rosebank project from international, integrated oil and gas company OMV for an initial payment of $50-million. Subject to conditions, including regulatory approval, subsidiary Suncor Energy UK... 

Suncor expands reach in UK’s North Sea basin

NEB approves southern Ontario TransCanada gas pipeline construction

By: Henry Lazenby     5th August 2016 Canada’s independent energy regulator has approved construction of an 11.7 km natural gas pipeline in Vaughan, Ontario, subject to 19 conditions. TransCanada Pipelines’ Vaughan Mainline expansion project would be integrated into the company’s existing mainline system and its King’s north... 

NEB approves southern Ontario TransCanada gas pipeline construction
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