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Santos starts up second unit at GLNG

By: Mariaan Webb     Updated 1 hour 34 minutes ago Oil and gas company Santos has started producing liquefied natural gas (LNG) at the second unit of the GLNG joint venture project, on Curtis Island, in Queensland, marking the successful delivery of the $18.5-billion two-train project. Santos MD and CEO Kevin Gallagher on Thursday described the... 

Joint panel formed to review Teck Resources oil sands project

By: Samantha Herbst     25th May 2016 A three-member joint panel of environmental experts has been established to review diversified miner Teck Resources’ proposed Frontier oil sands mine project, in Northern Alberta, announced Environment and Climate Change Minister Catherine McKenna and Alberta Energy Regulator president and CEO... 

Wildfire-hit Athabasca Oil resumes operations at Hangingstone

By: Samantha Herbst     25th May 2016 TSX-listed energy company Athabasca Oil Corporation has resumed operations at its Hangingstone facility, 20 km south of Fort McMurray, which has been engulfed by a Canadian wildfire starting in early May, forcing widespread evacuations and a prolonged shutdown of all oil operations in the region.... 

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

Proposal to extend ‘water trigger’ to shale, tight gas unnecessary, says Appea

By: Samantha Herbst     24th May 2016 Australia’s Labor government on Tuesday moved to extend the contentious ‘water trigger’ legislation to shale and tight gas projects. Introduced in 2013, the water trigger legislation was an amendment to the Environmental Protection and Biodiversity Conservation Act, which sought to protect water... 

Proposal to extend ‘water trigger’ to shale, tight gas unnecessary, says Appea

Freeport withdraws oil and gas business IPO

By: Henry Lazenby     20th May 2016 Freeport-McMoRan Oil & Gas, a unit of US-based copper producer Freeport-McMoRan, has withdrawn its initial public offering (IPO) in the wake of a collapse of oil and gas prices that wreaked havoc on company valuations. Since the unit filed for an IPO with the US Securities and Exchange Commission... 

Canada wildfire moves into Saskatchewan, but little risk to mines, farms

By: Reuters     20th May 2016 A Canadian wildfire has moved from oil-rich Alberta province into Saskatchewan province, though that province's fertile farms and lucrative mines are tucked far away from the blaze's path. The fire in northern Alberta hit the town of Fort McMurray in early May, forcing widespread evacuations and... 

Oil Search signs MoU to sell down InterOil assets following same-day acquisition

By: Samantha Herbst     20th May 2016 Following ASX-listed oil and gas major Oil Search’s successful acquisition of Papua New Guinea-focused InterOil Corporation for $2.2-billion, or $40.25 a share, Oil Search reported on Friday that it had signed a memorandum of understanding (MoU) with multinational integrated oil and gas major... 

Oil Search signs MoU to sell down InterOil assets following same-day acquisition

Woodside sees LNG shortfall emerging by 2022

By: Mariaan Webb     20th May 2016 Australian oil and gas major Woodside Petroleum expects the liquefied natural gas (LNG) market to remain in oversupply for the next six years, but says a shortfall will develop by 2022. Woodside executive VP for marketing, trading and shipping Reinhardt Matison said on Friday that new supply... 

Mitsui looking to close deal to acquire stakes in Vale’s Moz operations by next March

By: Keith Campbell     20th May 2016 Japanese general trading company Mitsui & Co, part of the Mitsui group, has stated that it plans to close its deal with Brazilian mining and logistics group Vale to acquire stakes in the latter’s Mozambican operations by March next year. In December 2014, Mitsui & Co agreed to buy 15% of Vale... 

Too costly to shut: Mine sales stumble on looming clean-ups

By: Reuters     19th May 2016 Major miners are trying to avoid hundreds of millions of dollars in closure costs by selling off pits, as cash is tight due to a prolonged commodities price slump, but the crippling cost of environmental rehabilitation makes it tough to seal deals. Where mine sales have gone ahead, production is... 

Too costly to shut: Mine sales stumble on looming clean-ups
BHP Billiton held on to its loss-making Nickel West operation after failing to find a buyer. The business is estimated to have $1-billion in closure liabilities.

Halcón reaches pact with creditors on prepackaged bankruptcy plan

By: Reuters     19th May 2016 Halcón Resources, which produces oil in Texas and North Dakota, said on Wednesday it plans to file for a prepackaged bankruptcy that would wipe out $1.8-billion in debt and help it survive the drop in crude prices. Shares of the Houston-based company fell 55% to $0.44 in after-hours trading. 

Minister outlines 2016/17 gas IPP, FSRU procurement plans 

By: Terence Creamer     18th May 2016 Energy Minister Tina Joemat-Pettersson indicates that the procurement processes for the gas-to-power (GTP) programme and associated gas infrastructure will begin taking shape during the course of the 2016/17 financial year, with a request for proposals scheduled for the fourth quarter.... 

Minister outlines 2016/17 gas IPP, FSRU procurement plans

More oil sands interruptions as Alberta wildfires spread; to cost local economy C$1bn

By: Henry Lazenby     17th May 2016 As the evacuation zone on Tuesday increased north of Fort McMurray, where a gigantic wildfire was spreading out of control, a top Canadian think tank estimated that the Alberta wildfires could have an impact of almost C1-billion on the local economy. The Regional Municipality of Wood Buffalo... 

More oil sands interruptions as Alberta wildfires spread; to cost local economy C$1bn
Photo by Bloomberg
A Suncor upgrader outside of Fort McMurray

Lorimer decries mining’s production crash, job losses

By: Martin Creamer     17th May 2016 Mineral Resources Shadow Minister James Lorimer MP on Tuesday decried the sharply reduced output of South Africa’s once-colossal mining industry and warned that mining's “jobs bloodbath” had only just begun. State statistics compiler StatsSA reported earlier this month that South Africa’s... 

Lorimer decries mining’s production crash, job losses
Shadow Minerals Minister James Lorimer

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

CIL’s consultancy arm tapped as nodal agency for UCG projects

By: Ajoy K Das     17th May 2016 The Central Mine Planning and Development Institute Limited (CMPDIL), the consultancy arm of miner Coal India Limited (CIL), has been appointed by the Indian government to act as the nodal agency for the development of underground coal gasification (UCG) projects in the country. The mandate for... 

Pura Vida's cost cuts continue

By: Esmarie Swanepoel     17th May 2016 ASX-listed Pura Vida Energy has continued with its cost cutting measures, as the company attempted to battle falling oil prices. The oil explorer on Tuesday told shareholders that each of its non-executive directors have agreed to reduce their base fee from A$100 000 to A$25 000 a year, while... 

TSX slips as non-gold resource stocks weigh

By: Reuters     13th May 2016 Canada's main stock index slipped on Friday, weighed down by financials, industrials and resource stocks as they pulled back in line with softer prices for oil and other commodities. "Today's price action is somewhat suggestive that some of these commodity sectors are perhaps extended from the... 

End of commodities boom hits African countries

By: Keith Campbell     13th May 2016 "The global commodity super cycle has come to an end, sharply lowering the price of oil, gas, metals and minerals," stated the World Bank in its most recent Regional Overview for Africa (published in late March). "As a net commodities exporter, Africa is deeply affected by falling commodity... 

End of commodities boom hits African countries

Husab fuel facility to showcase capabilities for mining sector

     13th May 2016 Fuels, lubricants and oil-based products producer and marketer Engen Petroleum was scheduled to complete the construction of a fuel storage and dispensing facility at the Husab uranium project, in Namibia, in late March.  

Husab fuel facility to showcase capabilities  for mining sector
POWERFUL PROSTECTS Once in full production, the Husab uranuim mine will be one of the largest in the world

Global energy consumption forecast to rise 48% by 2040 – EIA

By: Henry Lazenby     11th May 2016 The world’s hunger for energy is insatiable and is expected to rise by about 48% between 2012 and 2040 – an increase of about 1.4% a year, as global economies grow and populations expand. The US-based Centre for Strategic and International Studies on Wednesday published its updated projections of... 

Global energy consumption forecast to rise 48% by 2040 – EIA

South Africa moves to procure 600 MW gas-fired power project 

By: Terence Creamer     11th May 2016 The Department of Energy (DoE) has confirmed plans to procure a new 600 MW gas-fired power generation project, to developed as a public-private partnership. It is envisaged that the private ‘strategic partner’ will work with the State-owned companies (SoCs) to implement the project, with private... 

South Africa moves to procure 600 MW gas-fired power project
LNG tanker

Indian E&P majors seek compensation for auctioned fields

By: Ajoy K Das     11th May 2016 Indian oil exploration and production (E&P) majors are seeking to recover exploration and preliminary development costs incurred at the oil and gas fields that will be put up for auction in May. The Indian government was readying to auction 67 oil and gas fields this month, which were part of 69... 

AWE rejects takeover from Lone Star Japan

By: Esmarie Swanepoel     11th May 2016 The share price of ASX-listed oil and gas company AWE rose by 16% on Wednesday after the company rejected an unsolicited takeover offer from Lone Star Japan Acquisitions. AWE told shareholders that Lone Star Japan Acquisitions, on behalf of Lone Star Fund, had offered to acquire all the shares... 

Cooper Energy raises A$18.4m

By: Esmarie Swanepoel     11th May 2016 ASX-listed oil and gas company Cooper Energy has raised A$18.4-million through an institutional placement to allow the company to implement its Eastern Australian gas strategy and to support its equity share in the Sole gas project, in the Gippsland basin. Cooper on Wednesday announce that it... 

Enbridge turns to renewable energy with French offshore wind acquisition

By: Henry Lazenby     10th May 2016 Canadian oil and gas infrastructure giant Enbridge has agreed to buy a 50% interest in French offshore wind development company Éolien Maritime France (EMF), for C$282-million. NYSE- and TSX-listed Enbridge would co-own the company with EDF Energies Nouvelles (EDF EN), a subsidiary of Électricité... 

To stop conflict minerals, make European firms establish origin of supply chain – expert

By: Reuters     10th May 2016 European companies should be required by law to establish the origin of the minerals they use in their products to put an end to the trade in gold, tin and other minerals mined in conflict zones, a leading expert said on Tuesday. Campaigners have long raised concerns that proceeds from mining... 

Debt reduction high on priority list of major miners Freeport, Vale

By: Henry Lazenby     10th May 2016 Managing and reducing debt levels can be a balancing act, but it is high on the priority lists of major diversified miners Freeport McMoRan and Vale, the companies confirmed on Tuesday. Addressing the Bank of America Merrill Lynch's 2016 Global Metals, Mining and Steel Conference, in Florida,... 

Debt reduction high on priority list of major miners Freeport, Vale

GR Engineering awarded major contract at APLNG

By: Esmarie Swanepoel     10th May 2016 Oil and gas producer Origin Energy has awarded a contract to project house GR Engineering Services over the Australia Pacific liquefied natural gas (APLNG) project. The contract would see GR Engineering Services provide wellsite, gas production and water treatment facility maintenance as well as... 

No damage at Suncor assets despite fire

By: Henry Lazenby     9th May 2016 Alberta oil sands operator Suncor Energy over the weekend reported that despite the raging wildfires in the province having reached the southern end of its mine at its oil sands base operations, fire mitigation efforts were successful and no damage occurred. “We continue to monitor the situation... 

Canadian miners contribute C$50 000 to Fort McMurray relief

By: Henry Lazenby     6th May 2016 The Mining Association of Canada (MAC) has made a charitable contribution of C$50 000 to the Red Cross in Alberta, on behalf of members with mining operations active in almost every Canadian jurisdiction. This is to support the families devastated by the wildfire that has ravaged Fort McMurray... 

Chesapeake to sell some Oklahoma assets to Newfield for $470m

By: Reuters     5th May 2016 Debt-laden Chesapeake Energy, the second-largest US natural gas producer, said on Thursday it was selling $470-million in assets in Oklahoma to Newfield Exploration Co as part of a plan to shore up its finances through divestitures. Chesapeake's shares were up 12% at $6.31 in premarket trading... 

America's newest refinery falls victim to oil price slump

By: Reuters     5th May 2016 The owners of a North Dakota refinery that was the first to be built in the US since the 1970s have curtailed output and may try to sell it, the latest victim of the oil price slump roiling the energy industry. MDU Resources Group Inc and Calumet Specialty Product Partners LP, which jointly own... 

Alberta oil operators demobilise to protect assets, assist devastated communities

By: Henry Lazenby     5th May 2016 Alberta oil sands operators on Thursday further scaled back operations to only critical staff levels as gigantic walls of fire engulfed and devoured entire neighbourhoods in the regional hub of oil sands operations Fort McMurray. The Alberta government stated that public safety remained the key... 

Alberta oil operators demobilise to protect assets, assist devastated communities

Aus govt must ban fracking – report

By: Esmarie Swanepoel     5th May 2016 An interim report by a Select Committee on unconventional gas mining in Australia has recommended that the federal government work with state and territory governments to ban the process of hydraulic fracturing across the country. In November, the Senate resolved to establish a Select Committee... 

Aus govt must ban fracking – report

AWE sells its interest in the Bulu PSC

By: Esmarie Swanepoel     5th May 2016 ASX-listed AWE has continued with its strategy of divesting of its non-core assets, announcing on Thursday the sale of its 42.5% interest in the Bulu production sharing contract (PSC) for A$27.5-million in cash. The Bulu PSC is located offshore east Java and included the undeveloped Lengo gas... 

Oil sands production throttled back as Fort McMurray burns

By: Henry Lazenby     4th May 2016 Oil and gas companies operating in Canada's oil sands capital of Fort McMurray have scaled back their operations in the face of an exteme wildfire hazard advisory issued by the Alberta Department of Agriculture and Forestry. Major oil sands producer Suncor Energy announced late on Tuesday that... 

Oil sands production throttled back as Fort McMurray burns
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