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Appea welcomes rejection of Greens’ CSG proposal

By: Esmarie Swanepoel The oil and gas industry has welcomed a decision of the Senate’s Environment and Communications Committee to reject a Greens’ bill proposing Commonwealth intervention into state regulation of land access and a ban on hydraulic fracturing (fracking). The bill, which was introduced by a private... 

Lifting of sanctions seen boosting Iran’s mining sector after years of underinvestment

By: Ilan Solomons The agreement reached between Iran and world powers in Vienna, Austria, in July over the country’s nuclear programme is reopening the Iranian economy to global trade and investment after ten years of international sanctions against the country. US-based think tank the Council on Foreign Relations... 

Lifting of sanctions seen boosting Iran’s  mining sector after years of underinvestment

Syncrude gains access to patent rights that could reduce environmental footprint

By: Henry Lazenby TSX-V-listed technology firm Titanium Corp has assigned a 50% interest and signed a co-ownership agreement with oil sands miner Syncrude Canada in a patent that could help Syncrude reduce its environmental footprint. Under the terms of the agreement announced on Thursday, Titanium had assigned a... 

Sasol cautious on resumption of Iran oil imports

By: News24Wire Petrochemicals group Sasol has taken a wait and see stance on the possible resumption of crude oil imports from Iran, following the landmark July 14 agreement, which set the scene for the lifting of sanctions on the country. Historically, Iran is a major source of crude oil for South Africa. At... 

Sasol cautious on resumption of Iran oil imports

TransCanada to drop legal action, apply to Nebraska Public Service Commission for route certainty

By: Henry Lazenby Canadian energy infrastructure operator TransCanada will file an application with the Nebraska Public Service Commission (PSC) to seek approval for the Keystone XL route through the state. TSX- and NYSE-listed TransCanada on Wednesday changed tack, saying it would drop its current ‘eminent... 

TransCanada to drop legal action, apply to Nebraska Public Service Commission for route certainty

African opportunities depend on economic corridors and additional infrastructure 

By: Simon Rees Sub-Saharan Africa continued to face transport bottlenecks and difficulties in bringing large-scale infrastructure projects to fruition, despite increased economic growth and growing population levels, delegates were told at a recent Canada-Southern Africa Chamber of Business infrastructure... 

Prevost drops coal bombshell 

By: Martin Creamer South Africa’s Mr Coal on Wednesday called on the country to begin reversing out of low-priced coal export markets and turn inwards towards the domestic market through a grouping of inland terminals that could provide economic logistics to the high-grade South African coal that the global market... 

Prevost drops coal bombshell
Photo by Duane Daws
Xavier Prevost

JV partner blocks Beach’s Egyptian asset sale

By: Esmarie Swanepoel The sale of oil and gas major Beach Energy’s Egyptian assets to Aim-listed Rockhopper Exploration has been blocked by one of the joint venture (JV) partners in the Abu Sennan concession. In August, Beach announced it would focus on its Australian operation and divest of its international assets,... 

Scotiabank Commodity Price Index falls to lowest level since 2005

By: Henry Lazenby Scotiabank's Commodity Price Index has plunged by 10.5% month-on-month in August to a reading of 91.3, which placed it 13.9% below the April 2009 bottom during the last recession and the lowest level since early 2005. "While many commodity prices, including key base metals, remain well above the... 

Sasol, Fluor team up to develop S African energy projects

By: Megan van Wyngaardt Sasol Group Technology has signed a three-year agreement with US-based engineering and construction firm Fluor Corporation to collaborate on small and mid-sized oil and gas projects at Sasol’s facilities in Secunda and Sasolburg. Fluor would share its expertise on proprietary engineering and... 

Sasol, Fluor team up to develop S African energy projects

Alba increases its share in Horse Hill project

By: Ilan Solomons JOHANNESBURG ( – Aim-listed Alba Mineral Resources, on Friday executed a conditional agreement to buy an additional 5% interest in exploration and development company Horse Hill Developments (HHD) from UK oil producer Angus Energy. Alba would, thereby, increase its interest in... 

Senex inks GLNG deal as production starts

By: Esmarie Swanepoel Oil and gas junior Senex Energy has entered into a series of agreements with the owners of the Gladstone liquefied natural gas (GLNG) project, in Queensland, which could lead to the development of its own Western Surat gas project. Under the terms of the transaction, Senex would receive... 

Senex inks GLNG deal as production starts

Opec focuses on rival mega projects, lives with shale swing output

By: Reuters After almost a year of painfully low oil prices, Opec members are beginning to believe they are winning against upstart US shale producers in a short-term market share contest. Yet insiders and experts say Opec is looking for a longer-lasting impact on other high-cost production oil field plans,... 

Tribunal seeks public comment on CSG land-holder compensation in NSW

By: Esmarie Swanepoel Land-holders in New South Wales who allow the mining of coal seam gas (CSG) should be compensated, the New South Wales Independent Pricing and Regulatory Tribunal (IPART) said this week. As part of the New South Wales gas plan, the state government assigned IPART to develop a framework for... 

Tribunal seeks public comment on CSG land-holder compensation in NSW

Quadrant abandons Buru joint venture

By: Esmarie Swanepoel Quadrant Energy Australia will pay ASX-listed Buru Energy and its joint venture (JV) partner Mitsubishi Corporation A$10-million after withdrawing from the Coastal titles farm-in agreement. In 2013, Quadrant, previously known as Apache Energy, inked a JV agreement with Buru and Mitsubishi to earn... 

Total sells 10% of Fort Hills project to Canada's Suncor

By: Reuters French oil and gas company Total said on Monday that it has sold 10% of its planned 180 000 bbl/d capacity Fort Hills project to Suncor Energy for around $230-million. Total said it had decided to reduce its exposure to Canadian oil sands projects in the context of lower global oil prices. 

Sherritt clips 2016 budget, suspends quarterly dividend

By: Henry Lazenby To protect its balance sheet in the face of depressed commodity prices, TSX-listed Sherritt International after market close on Thursday announced that the board had decided to suspend the C$0.01 a share quarterly dividend and to implement significant capital spending cuts in 2016. Capital... 

Origin warns of oil price impact on APLNG

By: Esmarie Swanepoel A continued low oil price could impact the earnings oil and gas major Origin Energy expects to receive from its investment in the Australia Pacific liquefied natural gas (APLNG) project. In a shareholder review, MD Grant King noted that the company was actively and aggressively reviewing all... 

Resources Watch

By: Creamer Media Reporter Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: Sasol is ‘excited' by South Africa’s gas-to-power prospects. ARM declares a dividend despite the copper price blow. And, Kibo says Tanzania’s... 

Resources Watch

Aus competition watchdog worried about Shell’s BG buy-out plans

By: Esmarie Swanepoel The Australian Competition and Consumer Commission (ACCC) has expressed concern over the proposed acquisition of ASX-listed BG Group by Royal Dutch Shell. Earlier this year, Shell launched a $70-billion takeover for liquefied natural gas (LNG) producer BG. 

Aus competition watchdog worried about Shell’s BG buy-out plans

East Coast gas supply uncertain, despite large-scale LNG projects

By: Esmarie Swanepoel Early indications from the Australian Competition and Consumer Commission’s (ACCCs) inquiry into the East Coast gas market has indicated that the arrival of major liquefied natural gas (LNG) projects has likely upended the market permanently. The ACCC East Coast gas inquiry would consider the... 

Beach MD steps aside

By: Esmarie Swanepoel Robert Cole has resigned as MD of Beach Energy. He has been on leave since August to attend to family matters in Perth and has decided that it was impossible for him to return to a full-time executive role in Adelaide. 

Glencore moves to raise $2.5bn

By: Martin Creamer Diversified mining and marketing company Glencore is taking steps to raise $2.5-billion worth of equity capital by placing shares with existing and new institutional shareholders as well as directors and employees. The company said in a Johannesburg Stock Exchange News Service announcement that... 

Appea stresses importance of shale gas for Northern Territory economy

By: Esmarie Swanepoel The Australian Petroleum Production & Exploration Association (Appea) this week said calls for a moratorium on shale gas exploration and hydraulic fracturing (fracking) in the Northern Territory had no basis in science and ignored the industry’s strong safety record. Appea Northern Territory... 

Petrobras chairperson to take leave, to focus on job as Vale CEO

By: Reuters Murilo Ferreira will take a leave of absence as chairperson of Brazilian state-run oil firm Petrobras, turning his full attention to his job as chief executive of Vale, as the mining giant grapples with a downturn in the sector. Petroleo Brasileiro, as the company is formally known, did not... 

Moody’s downgrades Teck’s rating to below investment grade

By: Henry Lazenby Risk management firm Moody's Investors Service on Monday became the first major ratings agency to downgrade Canadian diversified miner Teck Resources’ investment rating to below investment grade, or junk. Citing expected prolonged commodity price weakness and big capital spending projects,... 

Moody’s downgrades Teck’s rating to below investment grade

India’s ONGC Videsh not tipped for a listing

By: Ajoy K Das The Indian government is unlikely to push for a listing of ONGC Videsh, the wholly-owned overseas arm of the government’s oil exploration and production (E&P) major ONGC, given the current depressed international oil and gas prices. Neither the Natural Gas Ministry nor parent company ONGC were... 

Inpex warns of Ichthys cost increase, delay

By: Esmarie Swanepoel Energy major Inpex Corporation has warned of a 10% cost blow-out and delayed start at the A$10-billion Ichthys liquefied natural gas (LNG) project, offshore Western Australia. Inpex has pushed back the expected start date of the Ichthys project from December 2016 to the third quarter of 2017, as... 

Inpex warns of Ichthys cost increase, delay

Oil Search declines Woodside’s A$11.7bn takeover offer

By: Esmarie Swanepoel Takeover target Oil Search has rejected an A$11.7-billion takeover offer from Australian energy major Woodside, calling the indicative proposal highly opportunistic and saying that it grossly undervalued the company. Woodside last week confirmed its intent for a confidential and nonbinding... 

Woodside proposes Oil Search takeover

By: Esmarie Swanepoel Australian oil and gas major Woodside on Tuesday confirmed that it had launched a confidential and nonbinding merger offer for fellow-listed Oil Search. Woodside said it would offer 0.25 of its own shares for every one Oil Search share held, allowing Oil Search shareholders to maintain a stake... 

Woodside proposes Oil Search takeover

Sasol ‘excited’ by South Africa’s gas-to-power prospects

By: Terence Creamer Energy and chemicals group Sasol has again indicated a desire to participate in South Africa’s upcoming gas-to-power programme, confirming on Monday that it had responded to the Department of Energy’s recent request for information and that it was also considering investment options along the... 

Sasol ‘excited’ by South Africa’s gas-to-power prospects
Photo by Duane Daws
Sasol VP Southern African Operations Bernard Klingenberg

Antares sells US assets in $254m deal

By: Esmarie Swanepoel ASX-listed Antares Energy has divested of its Northern Star and Big Star oil and gas assets, in the US. The Northern Star asset was sold for $148.7-million, while the Big Star asset was sold to the same private equity buyer for $105-million. 

Glencore in $2.5bn equity raising, $10bn capital preservation, debt cutting

By: Martin Creamer Global commodities mining and marketing company Glencore on Monday announced a fully committed proposed equity capital raising of up to $2.5-billion alongside additional $10.2-billion capital preservation and debt reduction measures, portfolio optimisation and cost cutting actions, to lower net... 

Glencore in $2.5bn equity raising, $10bn capital preservation, debt cutting
Photo by Duane Daws
Ivan Glasenberg

Sasol sees low oil prices persisting to 2017, but expects strong upswing by decade’s end

By: Terence Creamer Energy and chemicals group Sasol reported a 17% fall in headline earnings to R49.76/share in the year to June 30, 2015, with a strong operational performance offset by a sharp weakening in market conditions, including a year-on-year oil price decline of 33%. Outgoing President and CEO David... 

Sasol sees low oil prices persisting to 2017, but expects strong upswing by decade’s end
Photo by Duane Daws
Sasol President and CEO David Constable

Miners increasingly looking to renewable energy sources to drive operational savings

By: Creamer Media Reporter Current pressures on the mining sector are driving increased interest in the cost savings and power security advantages that renewables could provide mining operations. To this end, a record number of mining leaders will meet with renewable energy and finance experts to network and share... 

Metgasco launches legal bid against NSW govt

By: Esmarie Swanepoel ASX-listed unconventional gas explorer Metgasco has launched legal action against the New South Wales government, claiming damages for the suspension of its 2014 drilling programme and preparing a judicial review over two of its licences. Metgasco has been in discussions with the state... 

Indian consortium submits fresh development plan for Iran gas block

By: Ajoy K Das A consortium of Indian oil and gas exploration and production (E&P) companies, led by ONGC Videsh, has submitted a revised development plan for the Faizad-B gasfield in Iran. While details of the new development plan were not readily available, a senior ONGC Videsh official indicated that it was... 

De Beers renews R57m Afrox contract

By: Megan van Wyngaardt Diamond miner De Beers Group has renewed gas and welding company Afrox’s R57-million contract for the supply of industrial and medical gases, welding consumables and bulk liquefied petroleum gas for the next five years. The contract came at a time when De Beers was investing R20-billion in... 

De Beers renews R57m Afrox contract
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