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Productivity Commission cautions against gas reservation policies

By: Esmarie Swanepoel     Updated 6 hours ago The Australian Petroleum Production & Exploration Association (Appea) has called for the withdrawal of market interventions such as domestic gas reservation policies, after the Productivity Commission released a report stating that such measures were unlikely to be effective or efficient in the... 

Scotiabank’s commodity price index rallies in February as oil and gas rebound somewhat

By: Henry Lazenby The Bank of Nova Scotia’s ‘commodity price index’ rallied by 2.4% month-over-month in February, after falling in January to the lowest level since early 2007. The third-largest Canadian bank said on Tuesday that its ‘oil and gas index’ rebounded in February, with Alberta light- and heavy-crude... 

Scotiabank’s commodity price index rallies in February as oil and gas rebound somewhat

Brazil's Petrobras will not sell distribution arm – board member

By: Reuters Petrobras, Brazil's state-run oil company, will not sell its fuel distribution arm as part of its ongoing asset sale plan, company board member Silvio Sinedino said on Tuesday. In a live speech broadcast on Youtube, Sinedino said Aldemir Bendine, CEO of the company, officially Petroleo... 

Camac concludes Oyo-8 completion operations

By: Natasha Odendaal JSE-listed Camac Energy is about two weeks away from its first oil output from the now completed Oyo-8 well in the oil and gas explorer’s prospective Oyo offshore oil- and gasfield, off the coast of Nigeria. Camac on Tuesday announced that it had completed the operations at the well and was ready... 

Camac concludes Oyo-8 completion operations

Azonto weighing corporate options

By: Esmarie Swanepoel West Africa-focused oil and gas hopeful Azonto Petroleum told shareholders on Tuesday that the company was weighing a number of strategic options to manage cost and preserve shareholder value, including an asset sale or a possible merger. Azonto holds a 35% interest in Vioco Petroleum, which in... 

Chevron’s Caltex exit has no impact on Australian LNG projects

By: Esmarie Swanepoel US major Chevron has reiterated that its decision to exit the Australian refining industry would have no impact on its focus to deliver big liquefied natural gas (LNG) projects in Western Australia. Chevron, which sold its 50% stake in refiner Caltex Australia for A$4.7-billion on Friday, stated... 

Fisherman's Landing permits extended - LNG

By: Esmarie Swanepoel ASX-listed Liquefied Natural Gas (LNG) has been given some leeway to secure other gas sources for its proposed Fisherman’s Landing LNG project, in Gladstone. The company reported on Monday that it had extended the site agreement for lease with the Gladstone Ports Corporation until the end of... 

Pura Vida to press play in Morocco

By: Esmarie Swanepoel SX-listed junior Pura Vida Energy was gearing up to spud its first well at Mazagan permit, offshore Morocco, by April, with the company also advancing negotiations with potential farm-in partners over its offshore Gabon assets. At the start of 2013, Pura Vida inked a farm-in agreement with US... 

Brazil gov't names Vale CEO Ferreira to head Petrobras board 

By: Reuters Brazil's government has selected Murilo Ferreira, the CEO of miner Vale, to head the board of embattled state-run Petroleo Brasileiro, according to a filing from the oil company on Friday. The other nominations for the board responsible for steering Petrobras through a massive corruption probe... 

Brazil gov't names Vale CEO Ferreira to head Petrobras board
Photo by Bloomberg
Vale CEO Murilo Ferreira

Empire raises cash to fund growth plans

By: Esmarie Swanepoel ASX-listed Empire Oil and Gas on Thursday announced that it would raise A$15.7-million in a share placement and rights offer as part of its growth strategy. The explorer noted that the raising would comprise of a A$5.5-million share placement to sophisticated and institutional investors, priced... 

Do not hide from debate, NSW Minister tells oil and gas players

By: Esmarie Swanepoel New South Wales Energy Minister Anthony Roberts has called on oil and gas players in the state to have greater involvement in swaying public opinion on favour of the industry. “Do not hide from the debate,” Roberts said at the Domestic Gas Outlook conference, in Sydney this week. 

WA oil and gas job losses loom, Woodside confirms cuts

By: Esmarie Swanepoel Australian oil and gas major Woodside on Wednesday confirmed that it would cut about 300 staff from its payroll, while reports emerged that US major Chevron was mulling the halving of its 4 000-strong Western Australian workforce. Reports suggested that Chevron had informed its staff to prepare... 

Sherritt International appoints ArcelorMittal Canada exec as COO

By: Henry Lazenby TSX-listed Sherritt International Corp has named ArcelorMittal Mining Canada president and CEO Steve Wood as its new COO effective from April 27. Wood would oversee all Sherritt's operations in Canada, Cuba and Madagascar, including the environmental, health and safety, sustainability,... 

Oil price decline shakes up North American growth prospects

By: Henry Lazenby The continued slide in crude oil prices will weigh on Canadian economic growth over the next few years, despite being offset by ultralow interest rates, a weaker Canadian dollar, resilient growth in the key US export market and energy cost savings for consumers, economists at Toronto-Dominion... 

Oil price decline shakes up North American growth prospects

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee

By: Martin Creamer South Africa should seize the current timely opportunity to amend its mining taxation in a manner that encourages foreign investment, stimulates prospecting, gets mining companies to start dealing with marginal mines and gives enough back to the fiscus for the benefit of this country's people,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee
Muhammad Saloojee

Appea welcomes exploration permits on NT Aboriginal land

By: Esmarie Swanepoel The Australian Petroleum Production & Exploration Association (Appea) has welcomed the grant of two petroleum exploration permits in the Northern Territory, over Aboriginal land managed by the Northern Land Council (NLC). The granting of the first two petroleum exploration permits over the NLC... 

NSW Labor’s CSG promise ‘puts politics ahead of jobs, cleaner energy’

By: Mariaan Webb New South Wales Labor’s election promise to ban coal seam gas (CSG) in part of the state is putting “politics ahead of jobs and cleaner energy”, Australia’s oil and gas industry body said on Friday. New South Wales opposition leader Luke Foley has pledged to “permanently ban CSG exploration and... 

NSW Labor’s CSG promise ‘puts politics ahead of jobs, cleaner energy’

‘Mostly rand-denominated’ Ibhubesi-to-Ankerlig gas deal expected to be sealed in 2015 

By: Terence Creamer State-owned electricity utility Eskom has confirmed that it will enter into commercial negotiations with Sunbird Energy and PetroSA for the supply of indigenous natural gas from the Ibhubesi field, off South Africa’s west coast, to the diesel-sapping Ankerlig power station, 400 km to the south in... 

‘Mostly rand-denominated’ Ibhubesi-to-Ankerlig gas deal expected to be sealed in 2015
Sunbird Energy executive chairperson Kerwin Rana

Glencore opts for squeaky clean

By: Martin Creamer Mining and marketing giant Glencore on Thursday took the unprecedented step of signing a major human rights commitment with a top human rights body, in a bid to keep its activities beyond reproach and squeaky clean. In its latest step of many recent steps to keep the company firmly on mining's... 

Glencore opts for squeaky clean
Photo by Duane Daws
Ivan Glasenberg

LNG boom to have limited impact on Australian living standards

By: Esmarie Swanepoel Despite boosting Australian output and incomes over the next few years, the ramp-up in liquefied natural gas (LNG) production was not expected to have much of an effect on Australian living standards, the Reserve Bank of Australia (RBA) reported on Thursday, owing to the high level of foreign... 

Zinc metal deficit expected to intensify – Glencore

By: Martin Creamer The zinc metal market’s 2014 deficit is expected to intensify this year, Glencore says in its latest annual report. The 200-page document, in which CEO Ivan Glasenberg notes slower than expected post-financial-crisis normalisation, positions the company as one able to react quickly and benefit... 

Zinc metal deficit expected to intensify – Glencore
Photo by Duane Daws
Ivan Glasenberg

Eskom seals 15-year gas term sheet with Sunbird for Ankerlig power station 

By: Esmarie Swanepoel ASX-listed gas developer Sunbird Energy on Wednesday announced the execution of a gas sales term sheet with South African power utility Eskom, over its planned Ibhubesi development, off the country’s West Coast. Under the term sheet executed with Eskom, the planned Ibhubesi project would deliver... 

Eskom seals 15-year gas term sheet with Sunbird for Ankerlig power station

South Africa expects to start granting shale licences later this year 

By: Reuters South Africa's mining minister said on Monday he expected to start issuing shale exploration licences later this year. "At the moment we are going through the consultation process (with stakeholders such as communities)," Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House... 

South Africa expects to start granting shale licences later this year

Credit Suisse settles Freeport-McMoRan litigation for $16.25 mln

By: Reuters Credit Suisse Group will pay $10-million in cash and provide $6.25-million worth of advisory work to Freeport-McMoRan to settle allegations it contributed to the natural resources company having overpaid significantly for two oil and gas companies. The settlement was disclosed on Monday in a... 

NSW cancels three Dart Energy exploration licences

By: Esmarie Swanepoel New South Wales Resources and Energy Minister Anthony Roberts has cancelled three more petroleum exploration licences (PELs), following buy-backs from resources company Dart Energy. Earlier in March, Roberts cancelled two PELs, held by independent explorer Pangaea, launching the buy-back... 

BassGas JV gets new wells

By: Esmarie Swanepoel The first of the two new production wells at the BassGas joint venture (JV), in Victoria, has been spudded, operator Origin Energy reported on Monday. The Yolla 5 and Yolla 6 wells were being drilled as part of Stage 2 of the BassGas mid-life enhancement project, which would extend the... 

LNG advances Canada project permitting

By: Esmarie Swanepoel ASX-listed Liquefied Natural Gas (LNG) has received a permit to construct the proposed eight-million-tonne-a-year Bear Head project, in Nova Scotia, from the Utility and Review Board. The company said on Monday that the final approval from the Nova Scotia Environmental Board was expected by the... 

Shell pulling back from shale in South Africa 

By: Reuters Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country manager said on Monday. A more than halving of crude oil prices since June last year has put high cost... 

Shell pulling back from shale in South Africa

Consol Energy cuts 2015 E&P capex budget

By: Henry Lazenby US-based fossil fuels producer Consol Energy has revised its 2015 exploration and production (E&P) capital expenditure (capex) budget, saying it was high-grading its development plan to reduce capital in the lower commodity-price environment. The NYSE-listed firm had forecast capex of... 

Senex buys Cooper basin assets from JV partner

By: Esmarie Swanepoel Diversified energy company Senex Energy has struck a deal with fellow ASX-listed Orca Energy to acquire that company’s Cooper basin assets for A$2-million. Orca on Friday announced that it would sell its 20% interest in the Burruna oilfield, its 20% interest in the Fury oilfield and petroleum... 

Despite ominous shadow of recession, RBC expects ‘anaemic’ economic growth in Alberta

By: Henry Lazenby While the ominous risk of a recession can not be dismissed, analysts at Royal Bank of Canada (RBC) believe that the initial position of strength in the Alberta economy is likely sufficient to keep the province in slightly positive growth territory in 2015, despite the dramatic decline in oil... 

Despite ominous shadow of recession, RBC expects ‘anaemic’ economic growth in Alberta
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