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Oil and Gas News

Appea dismisses claims that Victoria gas ban will not affect prices

By: Esmarie Swanepoel     13th January 2017 The Australian Petroleum Production and Exploration Association (Appea) has again called on Victoria to reconsider its ban on onshore gas exploration and development, dismissing claims by the state government that the ban will not affect gas prices for local residents. “This issue goes beyond... 

BC agrees Kinder Morgan pipeline expansion meets 5 prerequisites

By: Henry Lazenby     12th January 2017 British Columbia has issued an environment assessment certificate for Kinder Morgan’s Trans Mountain Expansion project, adding its own 37 specific conditions. These conditions are based on the National Energy Board's (NEB's) project report on May 19, 2016, recommending to the federal government... 

BC agrees Kinder Morgan pipeline expansion meets 5 prerequisites
Photo by British Columbia Government
British Columbia Premier Christy Clark

Mexico's industrial production flat as mining slumps

By: Reuters     11th January 2017 Mexican industrial output was flat in November as factory production rose to its fastest pace in nearly a year but mining shrank, Mexico's national statistics office said on Wednesday. Mexican industrial production was unchanged compared to the prior month, data showed, and down from a 0.2%... 

Wood Mackenzie sees uptick in oil and gas industry this year

By: Megan van Wyngaardt     11th January 2017 The global investment cycle will show the first signs of growth in 2017, since 2014, as confidence the oil and gas sector will start to return, with exploration and production spend set to rise by 3% to $450-billion. This, analysis firm Wood Mackenzie said on Wednesday, would also result in a... 

Wood Mackenzie sees uptick in oil and gas industry this year

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

Angolan lawyers appeal ruling on president naming daughter oil CEO

By: Reuters     4th January 2017 Angolan lawyers, who argue that President Jose Eduardo dos Santos' billionaire daughter was illegally appointed as the chief executive of the state oil company, have applied for their case to be heard in the Constitutional Court. Angola's Supreme Court on December 27 rejected an application by... 

Angolan lawyers appeal ruling on president naming daughter oil CEO

Fire at Côte d'Ivoire oil refinery extinguished, output continues

By: Reuters     3rd January 2017 A fire that broke out on Monday at Ivory Coast's only oil refinery was put out by the evening and production was unaffected, the refinery said in a statement. The state-run Societe Ivoirienne de Rafinage (SIR) refinery said a hydrogen leak caused a fire in one of the hydrocracking units. 

Tesla makes Reno a critical pit stop on way to Las Vegas and CES

By: Bloomberg     29th December 2016 As far as Tesla’s concerned, what’s happening in Las Vegas can stay in Las Vegas. The real action is some 400 dusty miles northwest, across the state in Reno. The electric-car maker is seizing on next week’s consumer electronics show to host investors and analysts at Gigafactory 1, the sprawling... 

Tesla makes Reno a critical pit stop on way to Las Vegas and CES
Photo by Reuters
Tesla Model S

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

European shares ease as miners, banks fall

Zambia withholding $243m in tax refunds owed to mining firms

By: Reuters     28th December 2016 Zambia is withholding 2.4-billion kwacha ($243-million) of the 5-billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday. Zambia's government began paying up to 800-million kwacha a month in Value Added... 

Zambia withholding $243m in tax refunds owed to mining firms
Photo by Bloomberg
A mine supervisor overlooks Metorox's Chibuluma copper mine, near Kitwe, Zambia

Ghana Q3 GDP growth rises to 4% yr-on-yr

By: Reuters     28th December 2016 Ghana's gross domestic product (GDP) growth in the third quarter of 2016 rose to 4% year-on-year, up from 3.6% a year ago due to increased oil production, the statistics office said on Wednesday. For years Ghana's economy grew at 8% annually on the back of its gold, oil and cocoa exports. But it... 

Ghana Q3 GDP growth rises to 4% yr-on-yr

Obama bans new oil, gas drilling off Alaska, part of Atlantic coast

By: Reuters     21st December 2016 US President Barack Obama on Tuesday banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans, in a push to leave his stamp on the environment before Republican Donald Trump takes office next month. Obama used a 1950s-era law called the Outer Continental Shelf Act that... 

Scotiabank Commodity Index set to end 2016 on high note

By: Henry Lazenby     21st December 2016 The Bank of Nova Scotia expects its benchmark Scotiabank Commodity Price Index to finish the year up 25%, with all sub-indices showing positive performance, the third largest Canadian banking group said Tuesday. The oil and gas index rose 55% in the year-to-November after both oil and natural gas... 

Scotiabank Commodity Index set to end 2016 on high note
Photo by Bloomberg
The surprise rally of bulk commodities, especially metallurgical coal, has lost some momentum in the final weeks of 2016

Karoon draged into Petrobas battle

By: Esmarie Swanepoel     16th December 2016 The Brazilian Federal Court of Accounts has suspended major Petrobas from further divesting its assets, except for five projects deemed in the final stages of negotiations, including the Baúna and Tartaruga Verde fields, which ASX-listed Karoon Gas is in negotiations to buy. Karoon, which has... 

Santos sets cap to raise A$1.5bn

By: Esmarie Swanepoel     16th December 2016 Oil and gas major Santos has successfully completed the institutional placement component of it’s A$1.5-billion capital raise. Some 256-million new shares, priced at $4.06 a share, will be issued under the institutional placement, raising A$1.04-billion. 

Santos sets cap to raise A$1.5bn

New African owners of Ibhubesi gas prospect aim to settle Ankerlig supply deal in 2017

By: Terence Creamer     15th December 2016 The new African owners of the Ibhubesi Gas Project (IGP), off South Africa’s West Coast, report that negotiations with Eskom for the supply of gas to the Ankerlig power station are ongoing, with the conclusion of a gas supply agreement (GSA) targeted for the second quarter of 2017. The project... 

New African owners of Ibhubesi gas prospect aim to settle Ankerlig supply deal in 2017
Sunbird executive chairperson Kerwin Rana

AWE sells interest in Tui oil field

By: Esmarie Swanepoel     13th December 2016 ASX-listed AWE has struck a deal to divest of its 57.5% interest in the Tui Area oil fields, offshore New Zealand, for $1.5-million to Tamarind Management. Under the terms of the agreement, Tamarind will acquire all of the outstanding shares of AWE New Zealand and AWE Taranaki, which jointly... 

Inter Pipeline consolidates Cold Lake pipeline ownership

By: Henry Lazenby     13th December 2016 TSX-listed Inter Pipeline has agreed to buy Canadian Natural Resources’ 15% in the Cold Lake pipeline system for C$527.5-million. The deal consolidates its 100% interest in the system, which serves several large oil sands producers in eastern Alberta, including Canadian Natural and Imperial Oil. 

Ottawa appoints temporary NEB members to review Energy East application

By: Henry Lazenby     13th December 2016 The Canadian federal government on Monday announced the appointment of three temporary members to the National Energy Board (NEB) to assist with the stalled application review of TransCanada Corp’s C$15.7-billion Energy East pipeline. Natural Resources Minister Jim Carr announced the appointment... 

Mexico’s latest energy auction confirms significant international interest in domestic market

By: Henry Lazenby     12th December 2016 Last week's auction of deepwater oil blocks as part of Mexico’ energy reform process was well received by the international market, confirming government’s momentum since 2013 to break State-owned oil firm Pemex’s then 76-year monopoly on the oil sector. On December 5, Mexico’s government awarded... 

Mexico’s latest energy auction confirms significant international interest in domestic market

South Sudan in talks with India to revive closed oil blocks

By: Ajoy K Das     12th December 2016 The government of South Sudan has initiated talks with India to revive oil blocks closed in the wake of a civil war in 2013. During preliminary discussions between government representatives of the two countries, South Sudan offered compensation to ONGC Videsh, the overseas arm of India’s oil and... 

Stabilising WTI price prompts oil sands companies to dust off deferred projects

By: Henry Lazenby     10th December 2016 A 17% rise in West Texas Intermediate pricing since the start of the year has prompted two Canadian oil sands companies to revive deferred projects. TSX- and NYSE-listed Cenovus Energy on Thursday announced that it would proceed in the first half of 2017 with the Phase G expansion of its... 

Boost for Western Australia as Gorgon starts supplying first customers

By: Esmarie Swanepoel     9th December 2016 The $54-billion Gorgon liquefied natural gas (LNG) project, on Barrow Island off the coast of Western Australia, has started domestic gas supplies to the Western Australian market. US energy major Chevron on Friday reported that an initial 150 TJ/d of gas was being supplied to foundation... 

Boost for Western Australia as Gorgon starts supplying first customers

Waitsia FID due by end of 2017

By: Esmarie Swanepoel     9th December 2016 The joint venture (JV) partners in the Waitsia gas project, in Western Australia, are expected to make a final development decision on the Stage 2 development by the end of 2017. The Stage 2 development could supply 10% of Western Australia’s domestic gas demand, some 100 Tj/d, for a period of... 

Manitok hits new production record

By: Henry Lazenby     9th December 2016 TSX-V-listed Manitok Energy has reached a new production record of 7 100 barrels of oil equivalent a day (boe/d), based on field estimates, surpassing the previous record of 6 500 boe/d achieved in October. Calgary-based Manitok, which focuses on Lithic Glauc (LG) oil reservoirs in south-east... 

Mozambique projects in sights of tax and regulatory authorities at home and abroad

By: Keith Campbell     9th December 2016 Mozambique’s Tax Authority is monitoring the natural resources sector to ensure it collects the capital gains taxes due to it. This was affirmed by Tax Authority President Amélia Nakhare late last month. She was addressing a promotion ceremony for tax officials, at Boane in Maputo province.  

MPRDA Bill could deter investment in upstream oil and gas industry – lawyer

By: Ilan Solomons     9th December 2016 In January 2015, President Jacob Zuma referred the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill to the National Assembly based on reservations that it would not pass constitutional muster.  Law firm Norton Rose Fulbright South Africa director Lizel Oberholzer says that... 

MPRDA Bill could deter investment in upstream oil and gas industry – lawyer
LIZEL OBERHOLZER Expectations are that the legislator will provide principles that will guide the Mineral Resources Minister in exercising discretion in adjusting the State’s participation in the oil and gas sector

New automatic system safeguards equipment

By: Nadine James     9th December 2016 Early detection is critical to combat electrical fires in confined spaces and mitigate the risk of injuries and fatalities while limiting high-value equipment damage and system downtime, says environmental solutions provider I-CAT. To eliminate the difficulties associated with fire detection in... 

New automatic system safeguards equipment
DOUSING AGENT The cylinder is filled with a nonconductive extinguishing agent called CLEAVOS 1230

Tackling increased alcohol consumption during festive season

By: Nadine James     9th December 2016 The festive season can put companies at risk, as employees are more likely to drink alcohol not only more often but also to the point of excess, says drug and alcohol testing equipment provider Alco-Safe.  Alco-Safe director Rhys Evans notes that based on first-hand reports by safety managers,... 

Tackling increased alcohol consumption during festive season
RHYS EVANS At mining companies the number of people that report to work under the influence of alcohol over December increases to between 200 and 300 people a day

MGX inks lithium brine accord with Sturgeon Lake oil & gas operator

By: Henry Lazenby     8th December 2016 Western Canada-focused project developer MGX Minerals has acquired rights to sample and analyse brine waters emitted from the Sturgeon Lake oilfield, in north-western Alberta for metallic mineralisation, the company reported Thursday. Under the agreement, MGX will be able to undertake water... 

Glencore's Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore's Rosneft deal wins analyst thumbs-up
Photo by Reuters
Russia's president Vladimir Putin with Rosneft CEO Igor Sechin

Coordinated planning approach ‘imperative’ to Australia’s energy future - AEMO

By: Esmarie Swanepoel     8th December 2016 The Australian Energy Market Operator (AEMO) has again highlighted the need for urgent policy reform to secure the nation’s energy future. In its latest National Gas Forecasting Report (NGFR), the AEMO warned of uncertainties and challenges, which will complicate gas demand forecasts for eastern... 

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

By: Esmarie Swanepoel     8th December 2016 Oil and gas major Santos has revealed plans to spin off its noncore assets into a standalone low-cost business as it targets a $1.5-billion debt reduction by the end of 2019. The assets to be spun out include those in Indonesia, Vietnam, Malaysia and Bangladesh, as well as in the Narrabri and... 

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

Continued gas development needed to keep WA market well supplied

By: Esmarie Swanepoel     8th December 2016 Western Australia’s domestic gas market is expected to be well supplied over the next ten years, if gas reserves continue to be developed. “Growth in domestic gas demand is forecast to be a marginal 0.1% over the outlook period, as there are only a handful of large gas consumers that are expected... 

Teck, Fort Chipewyan Métis ink participation agreement for Frontier oil sands project

By: Henry Lazenby     8th December 2016 Canadian diversified miner Teck Resources has signed a formal participation agreement with the Fort Chipewyan Métis Local 125, identifying several economic benefits while creating opportunities for meaningful engagement and communication with the indigenous group, as the proposed Frontier oil... 

SNC-Lavalin clinches $100m oil and gas deal

By: Megan van Wyngaardt     7th December 2016 TSX-listed SNC-Lavalin has been awarded a $100-million ten-year build-own-operate (BOO) oil and gas service contract for the engineering, procurement and construction (EPC) and the operations of multiple gas-compression and dehydration facilities in the US’s Permian basin, in Texas. SNC-Lavalin... 

NT's oil and gas exploration soars

By: Esmarie Swanepoel     7th December 2016 The Northern Territory government has celebrated the 47% increase in oil and gas exploration in the state, which has grown to its highest rate in 18 months. Companies spent a total of A$34.8-million on oil and gas exploration, marking the first significant upturn in exploration since the global... 

NT's oil and gas exploration soars

Gas technology group makes case for flexibility as South Africa mulls power road map 

By: Terence Creamer     7th December 2016 Leading gas-engine technology provider Wärtsilä has started making the case for greater flexibility within South Africa's evolving electricity supply industry, as well as within the gas-to-power subsector itself, as the country seeks comment on its future electricity road map. The Finnish group,... 

Gas technology group makes case for flexibility as South Africa mulls power road map
The 180 MW Sasolburg gas-engine plant
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