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Oil and Gas News

New AfDB, OpenOil report shows gaps in extractive resources management

By: Natasha Odendaal     20th October 2017 The African Development Bank (AfDB) and Berlin-based financial analysis firm OpenOil are hoping to trigger a new debate within Africa’s oil and gas and mining sectors with the publication of a jointly produced report on how African governments use financial models to manage projects. In an effort... 

Mexico expects to hold a third oil and gas auction in 2018

By: Reuters     20th October 2017 Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender in an election year. The bid terms will be announced later this year or... 

Nigeria seeks to boost mining reserves to lure investors

By: Bloomberg     20th October 2017 Nigeria plans to spend 15-billion naira ($42-million) over the next year to explore for minerals and attract investors into mining and reduce its dependence on oil, Solid Minerals Development Minister Kayode Fayemi said. “Because we are starting from a low base, we want to have a portfolio of... 

Conference cornerstone of geophysics industry

By: Nadine James     20th October 2017 The fifteenth biennial South African Geophysical Association (SAGA) conference and exhibition has become a cornerstone of the geophysics industry within the African region, says SAGA conference committee chairperson Reece van Buren. “No other event caters for our science quite like this one and... 

Conference cornerstone  of geophysics industry
A FORMATION OF GEOPHYSICISTS This year’s South African Geophysical Association conference and exhibition included 32 exhibitors, 15 sponsors, 19 keynote speakers, 218 delegates and about 30 geophysics students

Norwegian oil giant increases foothold in SA

     20th October 2017 Norwegian oil and gas company Statoil has acquired a 35% interest in exploration right 12/3/252 Transkei-Algoa, south of the Eastern Cape coastline, in South Africa, which is in line with its aim to position itself for global opportunities. This announcement followed the conclusion of a... 

Norwegian oil giant  increases foothold in SA
Photo by Statoil
PLUMBING NEW DEPTHS Statoil has numerous projects along the Norwegian continental shelf, as well as around the Southern African coast from Angola to Tanzania

South Africa spending less than its peers on mining research and development

By: Mia Breytenbach     20th October 2017 While South Africa had increased its investment in mining research and development (R&D) since 2014, the country’s investment was still below that of its peers, delegates heard during a panel discussion on ‘Technological Innovation and Advancements in the Mining Industry’ at the Joburg Indaba... 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

BHP's chairperson holds first annual meeting, plans to review board
BHP chairperson Ken Mackenzie

South African court revokes shale gas regulations – AgriSA

By: Reuters     19th October 2017 South Africa's High Court has quashed regulations governing proposed shale gas fracking, farmers lobby AgriSA said on Thursday after taking the government to court to stop fracking in the Eastern Cape province. The ruling marks the latest setback to South Africa's shale gas ambitions after a... 

Angola is not the next Venezuela, state oil firm says as it cuts debt

By: Reuters     19th October 2017 Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and... 

Santos upgrades full-year expectations

By: Esmarie Swanepoel     19th October 2017 Oil and gas major Santos has increased its full-year production expectations following another stellar quarter of production. Santos on Thursday upgraded its 2017 sales volume guidance from between 77-million and 82-million barrels of oil equivalent, to between 79-million and 82-million barrels... 

Woodside reports higher revenue in Sept quarter

By: Esmarie Swanepoel     19th October 2017 Australian oil and gas producer Woodside Petroleum has reported increases in sales volumes and revenues for the three months to September, compared with the previous quarter. Oil and gas production for the three months to September reached 20.3-million barrels of oil equivalent, which was down... 

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

BHP told bending to activists poses risks for debt investors
BHP new chairperson Ken Mackenzie

China's CEFC eyes big league with Rosneft oil offtake deal

By: Reuters     18th October 2017 As part of its recent $9.1-billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260 000 bbl/d of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world's top crude... 

Po Valley gets new production concession

By: Esmarie Swanepoel     18th October 2017 The Italian Ministry of Economic Development has granted ASX-listed PO Valley a production concession for a new onshore gas field close to existing producing infrastructure. Po Valley said on Wednesday that the Sant Alberto production concession, near Bologna, covers an area of 19.51 km2 and was... 

Iraqi forces capture North Oil Co. from Kurdish forces; no disruption to oil production

By: Reuters     16th October 2017 Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq forces moved into the premises of Iraqi state-owned North Oil after taking the nearby K1 airbase, the... 

Chevron cans $400m Great Australian Bight drilling plan

By: Esmarie Swanepoel     13th October 2017 US oil and gas major Chevron will abandon its $400-million exploration programme in the Great Australian Bight, saying drilling in the region could not compete for capital in Chevron’s global portfolio, given the low oil price environment. “We appreciate the strong support from governments,... 

Chevron cans $400m Great Australian Bight drilling plan

Product tackles inclement conditions, improves productivity

By: Nadine James     13th October 2017 One of the biggest challenges facing the mining industry with regard to its motors, gear drives and belt drives is protection from adverse weather conditions and the resulting ingress of dust and moisture, says pumps manufacturer Australian Pumps, commonly known as Aussie Pumps. “In the Pilbara,... 

Product tackles inclement conditions, improves productivity
COMPREHENSIVE PROTECTION Envelop covers protect key assets from dust, corrosion, heat and ultraviolet light, reducing the cost of maintenance

Development plan for gasfield submitted for approval

     13th October 2017 Oil and gas company Aminex has submitted a development plan for the Ntorya field, located onshore in the Ruvuma basin, in Tanzania, to the Tanzania Petroleum Development Corporation (TPDC) for approval. 

Development plan  for gasfield submitted for approval
NTORYA GASFIELD Aminex's development plan is a key step towards obtaining a development licence and the commercialising of the resources from the Ntorya appraisal area

Tullow buys 90% stakes in four onshore blocks in Côte d'Ivoire

By: Reuters     12th October 2017 Tullow Oil said it on Thursday it had bought 90% stakes in four onshore blocks in Côte d'Ivoire while state oil company Petroci holds the remaining 10%. The four blocks cover 5 035 km2 and are located on the coast, mostly to the west of Abidjan. 

PIC said to mull backing bid for Chevron's South Africa Unit

By: Bloomberg     12th October 2017 Africa’s biggest fund manager is interested in taking part in the acquisition by Glencore and a group of black South African-owned companies of Chevron Corp.’s assets in the country, according to three people familiar with the matter. The Public Investment Corporation (PIC), which manages the... 

PIC said to mull backing bid for Chevron's South Africa Unit

Oil rises on tighter market, but doubts swirl on sustainability

By: Reuters     11th October 2017 Oil prices rose for a third day on Wednesday as Opec said the market was gradually tightening after years of oversupply, but the 2018 outlook was less certain. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.80 per barrel at 1129 GMT, up 19 cents. Brent... 

Elliott tours BHP investors in renewed push for radical shake-up – sources

By: Reuters     10th October 2017 Activist investor Elliott has embarked on an international tour of BHP Billiton's biggest shareholders as it presses ahead with its campaign to force a radical shake-up of the FTSE 100 mining giant, sources familiar with the matter told Reuters. Representatives from Elliott have in the last month... 

BHP Billiton to progress on output resumption at Gulf platforms

By: Reuters     9th October 2017 Australian oil producer BHP Billiton started mobilizing staff to its Neptune and Shenzi platforms at the Gulf of Mexico after Hurricane Nate, expecting to make progress on resuming output over the next 24 hours, the firm said on Monday. BHP Billiton on Friday completed the evacuation of the oil... 

Wheatstone marks milestone with first LNG production

By: Esmarie Swanepoel     9th October 2017 The $34-billion Wheatstone liquefied natural gas (LNG) project, in Western Australia, has produced its first product, with first shipments targeted in the coming weeks. "First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people... 

Wheatstone marks milestone with first LNG production

Ecuador to offer oil blocks under new bidding terms in Jan

By: Reuters     7th October 2017 Ecuador will offer oil exploration and production blocks in January under new contract terms that it expects will attract more interest and allow the OPEC-member country to compete with its neighbours for foreign investment, the oil minister said. The new terms will allow producers to be paid in... 

Ecuador to offer oil blocks under new bidding terms in Jan

BHP Billiton evacuates Shenzi, Neptune platforms ahead of Nate

By: Reuters     7th October 2017 BHP Billiton has completed the evacuation of its Shenzi and Neptune deepwater oil and gas platforms in the Gulf of Mexico ahead of Tropical Storm Nate, the firm said on Friday. "Personnel will remain onshore until the storm has passed," it said in a statement. 

Gas infrastructure major GAIL seeking uniform pricing

By: Ajoy K Das     6th October 2017 Indian gas infrastructure major GAIL India has proposed a unified or pooled price for all its customers linked to its network of gas pipelines across the country. GAIL says that a unified price will eliminate differential tariffs and taxes based on distance of locations from the infrastructure... 

Po Valley reorganises Italian oil and gas assets into Aim-listed Saffron

By: Esmarie Swanepoel     6th October 2017 Gas producer Po Valley Energy has announced a re-organisation of its Italian oil and gas assets into a larger Aim-listed company. The restructure would see Po Valley’s Aim-listed subsidiary Saffron Energy become the three-way host vehicle for its own Italian energy assets, as well as the three... 

Steelmaking commodities, thermal coal prices to buoy Australian export earnings

By: Esmarie Swanepoel     6th October 2017 The Australian government is forecasting record resources and energy exports in 2017/18, but says exports will decline in 2018/19. The Industry, Innovation and Science department forecasts resources and energy exports of A$211-billion in the current financial year and exports of A$201-billion... 

Steelmaking commodities, thermal coal prices to buoy Australian export earnings

TransCanada snuffs out Energy East, Eastern Mainline projects

By: Henry Lazenby     6th October 2017 TransCanada has pulled the plug on the Energy East and Eastern Mainline pipeline projects, the oil and gas infrastructure major revealed on Thursday. The TSX- and NYSE-listed oil and gas company said it will inform the National Energy Board (NEB) that it will no longer be proceeding with its... 

TransCanada snuffs out Energy East, Eastern Mainline projects

Mexico's Pemex gains two new partners for onshore tie-ups

By: Reuters     5th October 2017 Two foreign oil companies on Wednesday won the rights to partner with Mexico's oil company Pemex on two onshore blocks, a first since landmark energy reform, while a third offshore area received no bids. The auction was run by the National Hydrocarbons Commission, the industry regulator, and... 

Queensland gas supply deal enacted

By: Esmarie Swanepoel     4th October 2017 Queensland’s liquefied natural gas (LNG) producers have enacted a deal struck with the federal government to provide sufficient gas supply to the domestic market in 2018 and 2019, signing an industry-government agreement. Shell, Origin Energy and Santos in September agreed to supply an additional... 

BHP gearing up to start drilling for oil in Mexico's deep waters

By: Bloomberg     3rd October 2017 BHP Billiton is getting closer to drilling its first oil wells in Mexico’s deep waters. The Australian mining giant, which last year won rights to partner with state-owned Pemex in the Gulf of Mexico’s Trion field, hopes to have a drilling rig contracted this year and to spud two wells in the... 

In quest to keep coal-fired power station open, Peabody cites progress to find buyer

By: Henry Lazenby     3rd October 2017 US coal producer Peabody Energy has revealed that several potential investors have expressed an interest in buying the Navajo generating station, in northern Arizona. The coal mining company is looking to save the power plant it feeds thermal coal from closure and the process of searching for a... 

Beach raises first A$201m for Lattice buy

By: Esmarie Swanepoel     2nd October 2017 Oil and gas major Beach Energy has raised about A$201-million of its A$301-million target through an institutional entitlement offer to partially fund the acquisition of Lattice Energy from fellow-listed Origin Energy. Beach CEO Matt Kay told shareholders on Monday that the company was pleased... 

Up, up, up. . . Soaring expectations for gas; BC energy ministry mum on oil, coal potential

By: Henry Lazenby     30th September 2017 The British Columbia government on Wednesday shared optimistic prospects for its energy sector, outlining lofty expectations for natural gas exports and the growing renewable energy sector. “The emerging renewable sector is addressing climate action and LNG has the ability to reduce dependency... 

Up, up, up. . . Soaring expectations for gas; BC energy ministry mum on oil, coal potential

Appea calls for clarity on Pristine Rivers legislation

By: Esmarie Swanepoel     29th September 2017 The Australian Petroleum Production and Exploration Association (Appea) has called on the Queensland government to clarify its position on natural gas development in the Cooper basin, after reports emerged that the government could be considering environmental legislation to protect rivers.... 

Offshore capital equipment markets come in handy amid ‘turmoil’ in domestic mining sector

By: Dylan Slater     29th September 2017 South African capital equipment manufacturers that are exporting, and which have survived the ongoing turmoil in the mining industry and domestic economic environment, have showed resilience and bear testament to the lifeline provided through exporting products and not relying solely on sales... 

Offshore capital equipment markets come in handy  amid ‘turmoil’ in domestic mining sector
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