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Oil and Gas News

Canadian oil surge fails to lift producers out of the doldrums

By: Bloomberg     21st January 2019 Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has almost doubled to about $43 a... 

Project Atlas gets enviro nod

By: Esmarie Iannucci     21st January 2019 The Queensland Department of Environment and Energy has given ASX-listed Senex Energy approval to develop its Atlas project. The company said on Monday that it was now progressing the remaining regulatory approvals required by the Queensland government, with all environmental authority... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment

By: Terence Creamer     18th January 2019 “Location, location, location,” South Africa’s Minister Jeff Radebe quipped on Friday after a meeting with his Saudi counterpart, Khalid Al-Falih, where it was agreed that Saudi Aramco and the Central Energy Fund (CEF) would jointly study a plan for a new oil refinery and petrochemical investment... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment
Kingdom of Saudi Arabia’s Energy, Industry and Mineral Resources Minister Khalid Al-Falih with South Africa's Energy Minister Jeff Radebe

IEA sees oil demand growth defying economic slowdown for now

By: Bloomberg     18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... 

India mulls bringing natural gas under single unified tax regime

By: Ajoy K Das     18th January 2019 The Indian government has initiated moves to bring natural gas under the purview of Goods and Service Tax (GST) offering succor to a large number of gas-based power plants stranded by high-priced fuel. A Parliamentary committee on energy has batted in favour of including natural gas in the... 

Woodside Q4 revenue jumps 43%

By: Esmarie Iannucci     17th January 2019 Australian oil and gas major Woodside has reported a 43% increase in sales revenue for the fourth quarter of 2018, compared with the previous corresponding period, and a 10% increase in production. Woodside on Thursday reported that production during the three months to December had reached... 

Woodside awards Scarborough contracts ahead of FID next year

By: Esmarie Iannucci     16th January 2019 Australian oil and gas major Woodside is pushing ahead with the development of its $11-billion Scarborough gas project, announcing four contract awards for front-end engineering design activities. CEO Peter Coleman said the award of the contracts would support the project schedule and Woodside’s... 

Opec+ plans review in Baku in March, Ministers' Meeting in April

By: Bloomberg     15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... 

Foreign investors eye stake in IOC’s LNG terminal to be commissioned this month

By: Ajoy K Das     14th January 2019 Indian Oil Corporation (IOC), the country’s largest oil refiner-marketer, will be willing to offer strategic equity stake to overseas investors in its liquefied natural gas (LNG) terminal ready for commissioning at the end of this month. IOC in a statement said that construction of the LNG... 

Santos links more homes to Narrabri

By: Esmarie Iannucci     14th January 2019 Oil and gas major Santos has put further weight behind its plans to develop the Narrabri gas project, in New South Wales, revealing a new flowline from the natural gas appraisal wells, near Narrabri, to the Wilga Park power station. Santos said on Monday that the new flowline would be able to... 

Santos links more homes to Narrabri

Oil near one-month high amid Opec cuts, economic uncertainty

By: Bloomberg     10th January 2019 Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by Opec to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5% after a rally on Wednesday brought crude’s rebound from an... 

Santos extends Beach/Senex agreements

By: Esmarie Iannucci     10th January 2019 Australian oil and gas major Santos has extended its gas processing agreement with ASX-listed Beach Energy and Senex Energy. The gas processing agreement extensions are expected to result in the production of up to 18 TJ of sales gas per day, or 20 PJ over the three-year term. 

Santos extends Beach/Senex agreements

India’s plans for a natural gas trading hub in limbo

By: Ajoy K Das     9th January 2019 Having missed the December deadline to establish a national gas trading hub, India is unlikely to push ahead with its plans in the immediate future without solving the vexed issue of unbundling operations of State-run natural gas infrastructure owner and marketer GAIL India. The Petroleum and... 

BP awaits BHP decision on Atlantis spend

By: Esmarie Iannucci     9th January 2019 Energy giant BP has approved a $1.3-billion expansion of its Atlantis field, in the Gulf of Mexico. The Atlantis Phase 3 development will include the construction of a new subsea production system from eight new wells that will be tied into the current plantform, off the US coast. 

Qld LNG exports reach new heights

By: Esmarie Iannucci     8th January 2019 Liquefied natural gas (LNG) exports through the Port of Gladstone reached a record 20.58-million tonnes in 2018, the Queensland Resources Council (QRC) has revealed, reaffirming the sector’s importance to the Queensland economy. QRC CEO Ian Macfarlane said the data released by Gladstone Ports... 

Qld LNG exports reach new heights

Suncor achieves record quarterly oil-equivalent production of 831 000 bbl/d

By: Marleny Arnoldi     7th January 2019 Energy company Suncor reported total upstream production of 831 000 bbl/d of oil equivalent for the fourth quarter of 2018. This marked a quarterly production record and represented a 12% increase from the third quarter. 

If you can't pipe it, refine it: Alberta seeks oil glut solution

By: Bloomberg     7th January 2019 What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and... 

If you can't pipe it, refine it: Alberta seeks oil glut solution

Petrobras to focus on core business, spat with govt to be resolved soon -officials

By: Reuters     4th January 2019 Brazilian officials on Thursday predicted a quick resolution to a dispute with Petroleo Brasileiro SA over offshore oil blocks and doubled down on pledges to steer the state-run firm toward its core businesses like oil exploration. At the swearing-in ceremony for new CEO Roberto Castello Branco,... 

India initiates moves toward freeing natural gas pricing

By: Ajoy K Das     19th December 2018 The Indian government has started work on shifting from administered price for natural gas to a free pricing regime, but the process is to be spread out over three years. According to officials, NITI Aayog (National Institute for Transformation of India Commission) has already submitted a... 

Canada offers C$1.5bn in loans for oil-sector liquidity

By: Bloomberg     18th December 2018 The Canadian government announced C$1.5-billion in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46 a barrel last month. The country’s Energy and Trade Ministers announced the aid... 

Santos turns to solar for Cooper basin pumping

By: Creamer Media Reporter      18th December 2018 Oil and gas major Santos will reduce its production emissions with an Australian-first roll out of 100% renewable energy to power its oil well operations in the remote Cooper basin in South Australia and Queensland, following a grant from the Australian Renewable Energy Agency (Arena). The... 

Western Australia’s domestic gas market seen tightening in 2021

By: Esmarie Iannucci     14th December 2018 New data by the Australian Energy Market Operator (AEMO) has shown that new gas resources might be required to ensure that Western Australia had sufficient supply to serve its domestic gas market beyond 2020. “Our findings highlight a tightening of the domestic gas market in 2021 as supply... 

Northern Territory opens A$800m gas pipeline

By: Esmarie Iannucci     14th December 2018 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the opening of the Northern gas pipeline between Tennant Creek, in the Northern Territory, and Mt Isa, in Queensland. Infrastructure developer Jemena has completed the construction of the A$800-million, 622 km... 

Northern Territory opens A$800m gas pipeline

Australian oil and gas producers' tax revealed

By: Esmarie Iannucci     14th December 2018 Australian oil and gas producers had reported their worst operating result in the 2016/17 financial year. In a new survey by the Australian Petroleum Production and Exploration Association (Appea), Australian oil and gas producers reported a combined net operating loss of A$7.6-billion for... 

Angola approves new rules for rough diamonds

By: Rebecca Campbell     14th December 2018 The Angolan Government last week approved the new regulations concerning the commercialisation of diamonds, the Macauhub news agency has reported. The country’s Council of Ministers (Cabinet) approved the regulations on December 5. The official title of the new set of rules is The Technical... 

BHP and ExxonMobil push button on A$400m development

By: Esmarie Iannucci     13th December 2018 Mining major BHP and its joint venture partner Exxonmobil have pulled the trigger on the West Barracouta gas project, in the Bass Strait, offshore Victoria. BHP said on Thursday that its share of investment would amount to some $200-million, which was in line with the company’s commitment to... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Total to further expand oil exploration footprint in Mauritania

By: Marleny Arnoldi     12th December 2018 Global energy company Total and the Mauritanian Ministry of Petroleum, Energy and Mines have signed an agreement that awards Total two new exploration and production contracts for blocks C15 and C31, which are deep offshore Mauritania. The contracts cover an area of 14 175 km2 and will be 90%... 

Total to further expand oil exploration footprint in Mauritania
Total awarded two new exploration and production contracts in Mauritania

Alcoa signs up more gas in WA

By: Esmarie Iannucci     12th December 2018 Aluminium major Alcoa has secured three new gas supply agreements that would supply 25% of the company’s Western Australian gas requirements from 2020. Alcoa has struck agreements with providers BHP, Woodside and Chevron, and coupled with existing supply contracts with Santos and Quadrant... 

Big coal wants consumers to pay for fixing its pollution problem  

By: Bloomberg     11th December 2018 Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a... 

Oil holds drop on doubts over Opec curbs and US supply threat

By: Bloomberg     11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... 

Opec goes back into crunch talks as Russia resists big oil cut

By: Bloomberg     7th December 2018 The Organisation of Petroleum Exporting Countries (Opec) prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After a six-hour meeting in Vienna, Saudi Energy Minister... 

Nigerian govt launches bid for flare gas offtakers

By: Marleny Arnoldi     7th December 2018 The Nigerian government is inviting parties with an interest in accessing and securing competitively priced gas to participate in an open and competitive bid process. The government is implementing a Nigerian Gas Flare Commercialisation Programme (NGFCP) to make use of gas instead of it being... 

Nigerian govt launches bid for flare gas offtakers

India working on policy for FSRU LNG terminals at all major ports

By: Ajoy K Das     6th December 2018 The Indian government will frame a policy to facilitate the construction of floating storage and regasification unit (FSRU) liquefied natural gas (LNG) terminals at every major port in the country. The policy will lay down investment structure options for private investors so that there is a... 

DoE seeks comment on proposed revisions to fuel-price formula 

By: Terence Creamer     5th December 2018 The Department of Energy (DoE) is calling for comment on a discussion document it has compiled following a review the basic fuel price (BFP) structure for petrol, diesel and illuminating paraffin. The BFP formula has been employed to calculate the prices of petroleum products produce at South... 

DoE seeks comment on proposed revisions to fuel-price formula

EVs to become main driver of battery storage deployment over next decade, says Fitch Solutions

By: Simone Liedtke     5th December 2018 The electric vehicle (EV) market is set to become the main driver of surging battery storage deployment over the next decade, following increasing ambitions by developed and emerging markets to decarbonise their transport sectors, and will have a substantial disruptive effect on how energy is... 

Brazil prosecutors say Petrobras received bribes from Glencore, Trafigura and Vitol

By: Reuters     5th December 2018 Brazil prosecutors alleged on Wednesday that employees at State-owned oil company Petroleo Brasileiro received bribes from trading giants Vitol, Trafigura and Glencore in return for business. Prosecutors said the companies bribed employees at Petrobras, as the Brazilian State oil company is... 

Korean investor looks at $430m LNG import terminal

By: Esmarie Iannucci     5th December 2018 The port of Newcastle has been tipped as the location for a proposed $430-million gas import terminal to be developed by South Korea’s EPIK. EPIK this week entered into a project development option agreement with the port of Newcastle to start preliminary works on the a proposed liquefied natural... 

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