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Obama heads to Arctic community on last day of Alaska tour

By: Reuters President Barack Obama on Wednesday will become the first sitting US president to visit a community north of the Arctic Circle, a trek the White House hopes will bring into focus how climate change is affecting Americans. After meeting tribal leaders and fishermen in Dillingham, home to the... 

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

BHP and ExxonMobil to spend A$400m on new pipeline

By: Esmarie Swanepoel Diversified miner BHP Billiton and its joint venture (JV) partner ExxonMobil Australia have agreed to a A$400-million spend to replace a 187-km pipeline in Victoria, which transports crude oil and condensate between the Longford and Long Island Point facilities. ExxonMobil said on Friday that... 

Icahn targets struggling miner Freeport-McMoran with 8.5% stake

By: Reuters Activist investor Carl Icahn disclosed an 8.5% stake in miner Freeport-McMoran, saying the company was undervalued and needed to address several corporate governance and capital issues. In a filing with the US Securities and Exchange Commission, the billionaire investor said he intends to speak... 

Freeport-McMoRan again chops 2016 budget, to cut 10% of US jobs

By: Henry Lazenby US-diversified miner Freeport-McMoRan (FCX) on Thursday again laid into its 2016 capital plans, advising that falling copper prices and lower US production levels would result in about 10% of its US jobs being terminated. The Phoenix, Arizona-based miner trimmed its mining budget by 25%, or... 

M&R holds line on resources-focused strategy despite commodity meltdown

By: Terence Creamer Engineering and construction group Murray & Roberts (M&R) says it has no intention of shifting its strategy away from the international natural resources market, notwithstanding the prevailing weak climate for commodities and a bleak immediate outlook. Speaking to investors on Thursday, CEO Henry... 

M&R holds line on resources-focused strategy despite commodity meltdown

Afrox retains R70m Amplats contract

By: Megan van Wyngaardt South African welding and gas company Afrox has again been contracted to supply mining giant Anglo American Platinum (Amplats) with its compressed gases requirements for the next five years. The contract was valued at R70-million, with gas suppllied to all Amplats operations in Rustenburg and... 

Petrobras fuel tank explodes in Brazil, killing two

By: Reuters A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 13:00 GMT, while workers were doing planned maintenance on the heating... 

Shale, tight gas could boost NT economy by A$22bn

By: Esmarie Swanepoel The development of shale and tight gas resources in the Northern Territory could add a combined A$22.4-billion to the state’s economy over 20 years and create an additional 6 300 jobs by 2040, a new report has revealed. The report, compiled by advisory firm Deloitte Access Economics and... 

Shale, tight gas could boost NT economy by A$22bn

APLNG connected to power grid

By: Esmarie Swanepoel The Australian Pacific liquefied natural gas (APLNG) project has been plugged into the Queensland power grid, with the final connection to provider Powerlink’s transmission network occurring this week. The new high-voltage electricity infrastructure was now powering three APLNG gas-processing... 

New determinations create framework for key IPP procurement programmes 

By: Terence Creamer New Ministerial determinations creating the framework for the procurement of additional renewable-energy, gas and cogeneration capacity from independent power producers (IPPs) have been published in the Government Gazette. The determinations are in line with announcements made by Energy Minister... 

New determinations create framework for key IPP procurement programmes

Brent and US oil fall to fresh 6-1/2-year lows over China

By: Reuters Brent and US crude oil futures hit their fresh 6-1/2-year lows on Monday, as investors continue to worry about weak demand as China's economy slows amid a global supply surplus. Brent oil lost 44 cents at $45.02 a barrel as of 0125 GMT after hitting its intraday low of $45.00 earlier the day.... 

Brent and US oil fall to fresh 6-1/2-year lows over China

Beach warns of major impairment in H2

By: Esmarie Swanepoel ASX-listed Beach Energy on Friday warned of an asset impairment of some A$449-million after tax for the second half of the 2015 financial year, primarily relating to its assets in the Cooper basin and in Egypt. The impairment charges were in addition to the A$165-million after-tax impairment... 

Falling prices, soaring costs cut Santos’ H1 profits

By: Esmarie Swanepoel Australian oil and gas major Santos has reported an 82% fall in net profits after tax to A$37-million for the half-year ended June, as oil prices tumbled and exploration expenses soared. Profit was down from A$206-million in the previous corresponding period. 

Origin slashes jobs as it swings to a loss

By: Esmarie Swanepoel The share price of ASX-listed Origin Energy tumbled nearly 13% on Thursday as the company swung to a loss for the 2015 financial year and reported that it would slash some 800 jobs by 2017. Origin on Thursday reported a statutory loss of A$658-million for the financial year ended June 30,... 

Record low interest in US Gulf of Mexico leases amid oil price slump

By: Reuters A US government sale of oil and gas drilling leases in the western Gulf of Mexico attracted the lowest number of bids on record on Wednesday as slumping oil prices kept producers from ploughing money into expensive offshore prospects. The yearly sale, held by the Bureau of Ocean Energy... 

Woodside H1 profit falls as low prices bite

By: Esmarie Swanepoel Australian oil and gas major Woodside has reported a 39% fall in after-tax net profit to $679-million for the six months ended June, as falling commodity prices impacted revenues. This was compared with the $1.1-billion after-tax net profit recorded in the previous corresponding period. 

Hard-hit miners, railways push TSX lower

By: Reuters Canada's main stock index fell on Tuesday, its seventh decline in the last nine sessions, with miners and railways leading a broad retreat as copper hit a six-year low and Chinese equities tumbled. First Quantum Minerals plunged 9.7% to C$7.65 and Teck Resources shed 8% to C$8.39. 

R650m deal may open way for mining of Free State gas resource in 2016 

By: Terence Creamer Alternative-energy company Renergen, which is listed on the JSE’s AltX board, announced on Tuesday that it planned to acquire 90% of gas exploration and development company Molopo from Windfall Energy in a deal valued at R650-million. The remaining 10% of the company would be retained by Cheryl... 

R650m deal may open way for mining of Free State gas resource in 2016

Thawing diplomatic relations rekindle prospects of US investment in Cuba’s mining and petroleum sectors

By: Ilan Solomons Re-establishing diplomatic relations between Cuba and the US after 54 years have rekindled fresh hopes that Cuba’s mining and petroleum industries will benefit from potential US investment in these sectors. On January 15, 2015, the US Department of Commerce and the Treasury published regulatory... 

Thawing diplomatic relations rekindle prospects of US investment in Cuba’s mining and petroleum sectors

Legislative changes to be supportive of offshore oil, gas drilling – Zuma

By: Terence Creamer President Jacob Zuma says the finalisation of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, which is currently in the Parliamentary process, will assist the country to accelerate offshore oil and gas exploration. Delivering an update in Pretoria on government’s... 

Legislative changes to be supportive of offshore oil, gas drilling – Zuma

Optimum rescue chance reasonable if Eskom deal renegotiated – Glencore

By: Martin Creamer The directors of Optimum are of the view that there is a reasonable prospect of rescuing Optimum Coal if the supply agreement with Eskom can be renegotiated, Glencore said on Thursday. Optimum Coal announced on August 4 that it had begun business rescue proceedings because of its continued and... 

Optimum rescue chance reasonable if Eskom deal renegotiated – Glencore
Coal renegotiation sought

Contract terms to change for next round of India oil, gas blocks auction

By: Ajoy K Das India will put nine oil and gas blocks up for auction before the end of the current fiscal year and will transition from production-sharing contracts (PSCs) to revenue-sharing agreements (RSAs) with successful bidders. According to a senior government official, the auction of oil and gas blocks... 

Beach shifts focus to Aus east coast

By: Esmarie Swanepoel Following a strategic review, Australian oil and gas producer Beach Energy has taken the decision to focus its efforts on Australia’s east coast, flagging the sale of its international assets. The company in June announced its exit from Romania and, earlier this week, entered into a sales... 

Alliance to study social, enviro impact of NSW onshore gas industry

By: Esmarie Swanepoel The federal and New South Wales governments would invest a combined A$3-million to expand research on the social and environmental impacts of the onshore gas industry. The research would be undertaken by Australia’s national science agency the Commonwealth Scientific and Industrial Research... 

Origin warns of massive year-end impairment

By: Esmarie Swanepoel ASX-listed Origin Energy on Wednesday flagged an additional A$337-million impairment charge for the 2015 financial year, on the back of lower reserves and lower oil prices. The impairment charge related to the company’s upstream oil and gas assets and was in addition to the A$53-million... 

Alliance Pipeline planning to restart natural gas pipeline

By: Henry Lazenby Natural gas pipeline operator Alliance Pipeline plans to restart its mainline pipeline system on Wednesday. Alliance reported on Tuesday that the restart would begin with receiving the operational linepack, which referred to adding gas to the line to increase pressure. 

Latin American credit markets slip in risk-off mode

By: Reuters Latin American credit markets were widening on Tuesday after China's devaluation of the yuan and another drop in oil prices added to the woes of a region reliant on commodity exports. The risk-averse tone put particular pressure on regional currencies, driving them lower on worries that the... 

Beach invests in AGL permit

By: Esmarie Swanepoel Australian oil and gas producer Beach Energy will acquire a 40% interest in AGL Cooper Basin’s ATP 1056 permit for $1.15-million. The permit is located on the south-eastern flank of the Cooper basin and adjoins long-producing oilfields. The permit area has been identified as highly prospective... 

Major changes flagged for Sunbird 

By: Esmarie Swanepoel South Africa-focused Sunbird Energy on Monday announced a plethora of developments, including changes to management, a restructuring of debt, a potential capital raise, and a dual listing on the Johannesburg Stock Exchange (JSE). The ASX-listed company noted that its rapid evolution from a... 

Major changes flagged for Sunbird

TSX drops as weak oil prices hit energy shares

By: Reuters nada's main stock index fell on Friday in a broad retreat led by heavyweight energy and financial stocks as oil prices recorded their sixth straight weekly loss and North American jobs data highlighted Canada's relatively limp economy. Canadian employment data showed a small gain in June, but a... 

Alliance Pipeline shuts mainline pipe network

By: Henry Lazenby Hydrocarbon pipeline operator Alliance Pipeline declared a force majeure event and closed its mainline pipeline early on Friday after hydrogen sulphide entered into the system on Thursday evening, as a result of complications experienced by an upstream operator. The pipeline operator called on... 

India govt seeks to boost CBM production through State-owned entities

By: Ajoy K Das The Indian government is mulling a move to push Coal India Limited (CIL) and oil exploration and production (E&P) major ONGC to collaborate on stepping up production of coalbed methane (CBM) in the country. According to a senior government official, collaboration between the two government-owned... 

Company provides valves retrofitting solutions

By: Bruce Montiea Major oil and gas companies,  such as Chevron,Total, Engen, PetroSA and BP, are benefiting from valve actuator company DEMCA Actuation Solutions’ valve retrofitting service, the company says. DEMCA sales manager Ross McAslan says a thorough knowledge of the electric actuator market and... 

Company provides valves retrofitting solutions
QUALITY SERVICES Knowledge of the electric actuator market enables DEMCA Actuation Solutions to offer quality valve retrofitting services

FCX stock rises as management wields capex axe

By: Henry Lazenby A negative oil and gas market outlook has forced US diversified miner Freeport-McMoRan (FCX) to pare the capital budget for its exploration and production arm and to defer investments in several long-term projects. The Phoenix, Arizona-based firm would also curtail output at certain of its copper... 

FCX stock rises as management wields capex axe

Regulatory uncertainty continues to weigh down South Africa’s oil and gas sector

By: Terence Creamer The uncertain regulatory framework for oil and gas exploration and development in South Africa was likely to result in delays to the development of offshore and unconventional “frontier” projects, particularly in light of the depressed pricing environment, PWC’s latest Africa Oil & Gas Review... 

Regulatory uncertainty continues to weigh down South Africa’s oil and gas sector
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