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Sherritt International announced 2 new production-sharing contracts with Cuba

By: Henry Lazenby TSX-listed Sherritt International Corp on Firday announced that it had inked two more production sharing contracts (PSCs) with Cuba, where it has oil and gas assets. The new blocks, 8A and 10, are located in Central and Northern Cuba and cover areas of 967 km2 and 261 km2, respectively. 

LNG suppliers hoping for increased demand from China - WoodMac

By: Esmarie Swanepoel The prices of liquefied natural gas (LNG) may be put under pressure in 2015, given the relatively low oil price environment, and the uncertain demand from China, advisory firm Wood Mackenzie (WoodMac) reported this week. In its Horizons outlook report, WoodMac analyst noted that during 2014,... 

LNG suppliers hoping for increased demand from China - WoodMac

Santos gest a $1bn buffer

By: Esmarie Swanepoel Oil and gas major Santos has secured an additional $1-billion bilateral bank loan facility, to enhance the company’s liquidity profile and financial flexibility. CFO Andrew Seaton said that the new three-year facility further strengthened the company’s conservative liquidity profile. 

Woodside and BP agree to explore Canadian waters

By: Esmarie Swanepoel Oil and gas producer Woodside has finalised an agreement with major BP over a farm-in offshore the Scotian basin, in Canada. Woodside on Thursday told shareholders that it would acquire a 20% participating interest in four exploration licenses in the Scotian basin, while BP would remain operator... 

Lower oil prices could cost Canada dearly

By: Henry Lazenby An unprecedented 40% dive in crude oil prices in the last four months would impact the Canadian economy much more severely than previously thought, a recent study by analysts at Canadian Imperial Bank of Commerce (CIBC) had found. In their report ‘No barrel of fun: What weaker crude means for... 

Lower oil prices could cost Canada dearly

Govts urged to improve gas supply

By: Esmarie Swanepoel The Australian Pipeline Industry Association has called on state governments to act in order to increase gas supply, after a report from the Australian Energy Market Operator (AEMO) revealed a declining demand in domestic gas use. The AEMO report found that between 2014 and 2019, South... 

New guidelines given for fracking in WA

By: Esmarie Swanepoel The Australian Petroleum Production and Exploration Association (Appea) has welcomed Western Australia’s Environmental Protection Authority’s (EPA’s) new assessment guidelines for hydraulic fracturing, saying they supported the state’s existing regulatory regime. The EPA on Wednesday released a... 

New guidelines given for fracking in WA

Santos sells stake in Sole gas field

By: Esmarie Swanepoel Australian energy major Santos has sold a 50% stake in its Sole gas field and the Orbost gas plant, in Victoria, to fellow-listed Cooper Energy. Under the terms of the agreement, Cooper would acquire its share in the gas field and gas plant for an initial A$2.5-million in cash. Cooper would also... 

Woodside buys into Wheatstone, advances Browse

By: Esmarie Swanepoel Oil and gas miner Woodside would spend some $2.75-billion to acquire Apache Corporation’s share in the Wheatstone liquefied natural gas (LNG) project, the Balnaves oil interest, and the Kitimat LNG project in Canada. CEO Peter Coleman told shareholders that the acquisition was a natural fit with... 

Woodside buys into Wheatstone, advances Browse

Govts warned away from NT pipeline

By: Esmarie Swanepoel Energy analyst EnergyQuest has warned state governments from investing in the proposed gas pipeline which would connect the Northern Territory to markets on the east coast of Australia, saying that it would hinder private investment. In November this year, the Northern Territory government... 

Govts warned away from NT pipeline

No need for national gas reservation policy – COAG Energy Council

By: Esmarie Swanepoel The Australian Petroleum Production and Exploration Association (Appea) has welcomed news that the Council of Australian Governments (COAG) Energy Council had rejected the need for national interventions through a gas reservation policy. In its second meeting note, the Energy Council noted that... 

No need for national gas reservation policy – COAG Energy Council

Nido bids $108m for Otto’s Galoc interest

By: Esmarie Swanepoel ASX-listed Nido Petroleum has launched a $108-million takeover offer for fellow-listed Otto Energy’s 33% interest in the Galoc oil field, in the Philippines. Nido said on Friday it would pay a $10.8-million deposit for Otto’s subsidiary Galoc Production Company, which owns Otto’s share in the... 

Crude oil blending and storage facility to break ground in 2015

By: David D‘ Oliveira South Africa-based black-owned infrastructure and service provider Mining, Oil and Gas Services (Mogs), through its joint venture (JV) with Oiltanking Grindrod Calulo, is in the process of applying to the National Energy Regulator of South Africa (Nersa) for its tariff for its crude oil blending... 

Crude oil blending and storage facility to break ground in 2015
Photo by Bloomberg
BUSINESS OPPORTUNITIES The new storage and blending facility will take advantage of the crude oil being shipped from South America and West Africa

Santos slashes 2015 capex by 25%, maintains output guidance

By: Esmarie Swanepoel Australian oil and gas giant Santos on Thursday announced that it would reduce its 2015 capital expenditure (capex) by some 25%, from the planned $2.7-billion to $2-billion. Growth and sustaining capex for 2015 have been estimated at $1.4-billion and $600-million respectively, and Santos CEO and... 

Santos slashes 2015 capex by 25%, maintains output guidance

Fiscally committed oil exporters most exposed to low oil prices – Moody’s

By: Henry Lazenby Oil-exporting countries heavily reliant on oil revenues and committed to large spending programmes were most likely to have difficulty accommodating low oil prices, Moody's Investors Service said on Wednesday. In its report ‘Global oil price volatility: Oil-exporting sovereigns with limited... 

Fiscally committed oil exporters most exposed to low oil prices – Moody’s

Capital misallocation lowering commodity prices – Glencore

By: Martin Creamer Capital misallocation, not a lack of demand, remained the key factor in the current low level of several commodity prices, Glencore CEO Ivan Glasenberg said on Wednesday. Highlighting the need to differentiate by commodity in allocating capital, Glasenberg said at the company’s investor day in... 

Capital misallocation lowering commodity prices – Glencore
Photo by Duane Daws
Ivan Glasenberg

APA Group pays $5bn for BG Group’s QCLNG pipeline

By: Esmarie Swanepoel ASX-listed gas infrastructure giant APA Group has purchased the Queensland Curtis liquefied natural gas (QCLNG) pipeline from the BG Group for $5-billion. The QCLNG project would deliver about 8.5-million tonnes a year of capacity, with the Phase 1 project budgeted at $20.4-billion. First LNG... 

APA Group pays $5bn for BG Group’s QCLNG pipeline

India likely to reclaim awarded oil blocks for auction

By: Ajoy K Das The Indian government is considering reclaiming about 60 marginal oil and gas blocks allotted to State-owned exploration and production (E&P) companies, and adding them to the list of blocks up for auction. In a bid to kick-start the flagging interest in investments in the domestic hydrocarbon... 

Origin discovers gas offshore Victoria

By: Esmarie Swanepoel Australian oil and gas producer Origin Energy on Tuesday confirmed the discovery of potentially commercial quantities of gas at its Speculant 1 exploration well, offshore Victoria. “We are pleased to have discovered new gas resources in the Otway basin, an area in which we have a long history of... 

Bundu poised to begin consultations on revised Karoo shale-gas programme 

By: Terence Creamer Shale-gas aspirant Bundu Gas and Oil Exploration, which applied for a shale gas exploration right in South Africa’s Karoo basin in 2010, has revised its environmental management programme (EMP) and has appointed an independent environmental consultancy to begin consultations with interested and... 

Bundu poised to begin consultations on revised Karoo shale-gas programme
Photo by Duane Daws
Challenger MD Robert Willes

Mozambique delivering on promised regulations as well as rubies and mineral sands

By: Keith Campbell Mozambique Mineral Resources Ministry Permanent Secretary Alfredo Nampete has given the assurance that the country’s government was in the final stages of drawing up the ordinances for the Mineral and Petroleum Laws. Speaking in the last week of November in the country’s capital, Maputo, he... 

Innovative technologies could help further reduce incidents at oil sands sites

By: Henry Lazenby A new report by professional services firm Visser Deloitte has found that despite injuries to workers in the oil sands sector being on the decline, adopting data analysis tools and making some cultural shifts could improve worker safety. In its report ‘Predictive Site Safety: People and Culture... 

Carnarvon signs $52m deal for Thai assets

By: Esmarie Swanepoel ASX-listed Carnarvon Petroleum has agreed to sell a further 20% stake in its Thailand oil producing concession in a deal valued at $58.2-million. The company told shareholders on Thursday that its transaction with Berlanga Thailand was consistent with the company’s renewed strategic focus on the... 

Santos scraps capital raise, reviews spending plans

By: Esmarie Swanepoel Oil and gas major Santos on Thursday told shareholders that it would look to cut back on capital and operating expenditure during 2015, while also scrapping a planned capital raise. Santos in November flagged the potential for a European hybrid issue, but on Thursday said that considering the... 

LNG Canada selects main automation contractor

By: Henry Lazenby LNG Canada, a joint venture (JV) comprised of Shell Canada Energy (50%), an affiliate of Royal Dutch Shell, and affiliates of PetroChina (20%), Korea Gas Corporation (15%) and Mitsubishi Corporation (15%), has selected Yokogawa Electric Corporation as the main automation contractor for a natural... 

New Queensland fuels and energy strategy launched

By: Esmarie Swanepoel Queensland Premier Campbell Newman used the opening of a A$200-million micro-liquefied natural gas (LNG) plant to launch the state’s new fuels and energy strategy. The Premier revealed that some A$500-million would be made available to energy companies through an innovation fund to encourage... 

New Queensland fuels and energy strategy launched

South Africa issues tender for IPP procurement advisers

By: Terence Creamer The South African government is seeking bids from international and domestic advisers with expertise to design, develop and implement programmes for the “procurement of energy from independent power producers (IPPs)”. The request for proposals (RFP) has been issued by the Development Bank of... 

South Africa issues tender for IPP procurement advisers

East Africa remains oil and gas exploration hot spot

By: David D‘ Oliveira East Africa is still an oil and gas exploration hotspot on the continent, with significant finds in Uganda, Tanzania and, more recently, in Kenya, says environmental, health, safety, risk and social consulting services provider Environmental Resources Management (ERM). ERM sub-Saharan Africa MD... 

East Africa remains oil and gas exploration hot spot
NGOAKO RAMATLHODI Government is considering drafting separate legislation for oil and gas

Gas industry stakeholders highlight sector benefits, challenges

By: David D‘ Oliveira The development of a gas industry in South Africa could result in gross domestic product (GDP) growth of between 3% and 9.6%, which could contribute significantly to South Africa’s fiscus, stated oil and gas major Shell South Africa upstream manager Niall Kramer at the Joburg Indaba last month.... 

Gas industry  stakeholders  highlight sector  benefits, challenges
Photo by Duane Daws
NIALL KRAMER The development of a gas industry in South Africa could result in gross domestic product growth of between 3% and 9.6%

Natural gas a big GHG contributor

By: David D‘ Oliveira As indicated in President Jacob Zuma’s June State of the Nation Address, South Africa is serious about integrating natural gas into the country’s energy mix. This, however, could have unexamined consequences on South Africa’s contribution to global warming, as is the case in the shale gas-centric... 

Natural gas a big GHG contributor
Photo by Bloomberg
SHALE GAS FACILITY Studies have shown that many natural gas wells in the US have methane gas leakages of more than 9%

A$1.2bn Persephone investment approved - Woodside

By: Esmarie Swanepoel ASX-listed Woodside and its joint venture (JV) partners in the North West Shelf project have approved the development of the Persephone project, offshore Australia. The project, which would require a total investment of A$1.2-billion, would involve a twowell, 7 km subsea tieback from the... 

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