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Oil and Gas News

Senex secures A$150m for project development

By: Esmarie Iannucci     31st July 2018 ASX-listed Senex Energy has entered into a fully underwritten A$150-million debt facility to fund the development of its east coast gas projects and Cooper Basin assets. The debt facility includes a A$125-million senior secured reserve based lending facility with a seven-year tenor and... 

APLNG supports Origin earnings

By: Esmarie Iannucci     31st July 2018 The Australia Pacific liquefied natural gas (APLGN) project has driven production and revenues for ASX-listed Origin Energy during the three months to June. “APLNG continues to perform well and is making an increasingly important contribution to Origin,” CEO Frank Calabria said on Tuesday. 

India to shift to revenue sharing contracts at oilfields auction next month

By: Ajoy K Das     30th July 2018 KIndia will usher in a shift to revenue-sharing contracts and scrap production sharing contracts (PSCs) when the government auctions 60 discovered small oilfields next month. The government will put up for auction 22 fields owned by national oil exploration and production (E&P) major ONGC, five... 

Oando financials thrive on back of high-demand, low-supply oil environment

By: Marleny Arnoldi     27th July 2018 JSE-listed Nigerian energy group Oando reported a solid financial footing for the first half of the year on the back of higher oil prices as a direct consequence of increasing demand and lower supply. Higher oil prices, and the resolution of joint venture funding challenges with the Nigerian... 

Will BHP's CEO follow top miner's shale unit out of the door?

By: Bloomberg     27th July 2018 BHP Billiton’s $10.8-billion of deals to exit its troubled US shale unit will allow CEO Andrew Mackenzie to shower investors with returns. It may also be a chance for him to bow out on top. Mackenzie, 61, who’s held his post since 2013, has delivered on plans to simplify BHP around a tighter... 

Will BHP's CEO follow top miner's shale unit out of the door?
Andrew Mackenzie

BHP sells onshore US assets for $10.8bn

By: Esmarie Iannucci     27th July 2018 Mining major BHP has struck deals to divest of its onshore US oil and gas assets for $10.8-billion in cash. BP American Production Company, a subsidiary of energy major British Petroleum (BP), has agreed to acquire all of the issued share capital of Petrohawk Energy Corporation, which holds the... 

BHP sells onshore US assets for $10.8bn

Company meets stringent fire and explosives safety requirements

By: Donald Makhafola     27th July 2018 The increasing demand for strict fire and explosion protection in the hazardous areas of mining has led specialist manufacturer and designer of flameproof diesel engine systems Elgin Flameproofing to introduce the new Elgin 112TR tow tractor model for underground coal mining applications. The... 

Company meets stringent fire and explosives  safety requirements
MODIFIED The newly modified Elgin 112TR flameproofed tractor was officially launched in May

Europe to become 'massive' buyer of US LNG, Trump says

By: Bloomberg     25th July 2018 Europe will build more terminals to import US liquefied natural gas, the head of the European Commission told US President Donald Trump during a meeting aimed at averting a transatlantic trade war. “They want very much to do that, and we have plenty of it,” Trump said, referring to the US shale... 

Commodity price volatility will prevail as long as trade war threats prevail – BMI

By: Marleny Arnoldi     20th July 2018 Research firm BMI says most commodity prices will remain neutral on a three-month horizon, with the exception of oil prices which it expects to increase. Commodity prices performed poorly over June and July, but BMI believes the downside is limited for now as the drop in sentiment overshot... 

Electricity interruptions impact on Sasol’s FY18 production performance

By: Marleny Arnoldi     20th July 2018 Several unplanned electricity supply interruptions and two internal outages at its Secunda synfuels operations, resulted in lower production volumes for petrochemicals group Sasol for the financial year ended June 30. In a trading update published on Friday, the company said its earnings before... 

PNG LNG signs mid-term offtake

By: Esmarie Iannucci     20th July 2018 The Papua New Guinea liquefied natural gas (PNGG LNG) project partners have entered into a mid-term LNG sale and purchase agreement with Hong Kong-based PetroChina International Corporation. Under the agreement, the PNG LNG project will supply some 0.45-million tonnes of LNG a year over a... 

Commodity contagion spreads as raw material crash threatens calm

By: Bloomberg     19th July 2018 Don’t be fooled by the relative calm across financial markets: The inputs in the global supply chain are flashing warning signs. Commodities have tumbled into correction territory Thursday, sliding again in the face of the resurgent dollar and lingering global trade tensions. Among the recent... 

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

Metgasco turns to Mexican Gulf

By: Esmarie Iannucci     19th July 2018 ASX-listed Metgasco has entered into an agreement with fellow listed Byron Energy to farm-in to the South Marsh Island block, in the Gulf of Mexico. Metgasco will gain a 30% interest in the project through funding 40% of the cost of an initial test well to casing point, as well as certain... 

Woodside production on the up

By: Esmarie Iannucci     19th July 2018 ASX-listed Woodside Petroleum has reported increased production with the start of the second liquefied natural gas (LNG) train from the Chevron-operated Wheatstone operation. Production during the three months to June reached 22-million barrels of oil equivalent, up from the 20.7-million barrels... 

Higher prices drive Santos revenue

By: Esmarie Iannucci     19th July 2018 Oil and gas major Santos has reported a 16% increase in sales revenue for the first half of 2018, compared with the previous corresponding period, on the back of stronger commodity prices and higher oil sales. Santos on Thursday reported that production during the first half of the year declined... 

Greece shortlists Glencore, Vitol in Hellenic Petroleum majority stake sale

By: Reuters     18th July 2018 Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatisation agency said on Wednesday. Athens last month received five expressions of interest for a 50.1% stake that Greece and... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Iannucci     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

Joburg to host ‘safe drilling’ event this month

By: Nadine James     13th July 2018 The DrillSafe initiative will host its inaugural Drill Safe Drill Rig & Safety Innovation Forum at the Glen Hove Conference Centre, in Johannesburg, on July 20.  The forum will explore innovations in to drilling equipment and the exploration work environment, explains DrillSafe founder and Colin... 

Joburg to host ‘safe drilling’ event this month
Photo by Creamer Media
SAFETY IS PARAMOUNT Colin Rice notes that almost every accident in an exploration drilling environment is related to human error

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

ONGC’s Iran investment plans hit by India-US dialogue

By: Ajoy K Das     9th July 2018 Indian national oil exploration and production major ONGC Limited’s protracted investment plans in Iran were receding further into the realm of uncertainty ahead of the upcoming India-US bilateral meeting. A resolution for ONGC, which has inched closer to finalising an agreement with Iran on a... 

BP is front-runner to buy BHP's US shale unit

By: Bloomberg     8th July 2018 BP has emerged as the front-runner to buy BHP Billiton’s onshore oil and gas operations in the US, according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to... 

Japan's Mitsui may raise its stake in Vale – executive

By: Reuters     6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

Custom lube vehicle boosts mine’s safety, productivity

6th July 2018 Earthmoving equipment distributor Hitachi Construction Machinery Africa, in conjunction with its Mozambique subsidiary dealership, Hitachi Construction Machinery Mozambique, has designed and provided a custom-built lubricant vehicle for diversified mining giant Vale to enhance the availability of... 

Custom lube vehicle boosts mine’s safety, productivity
ENGENDERING SAFETY Hitachi’s custom-built lubricant vehicle enhances safety and optimises equipment availability

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Record Qld exports driven by coal and LNG

By: Esmarie Iannucci     5th July 2018 Queensland’s exports have risen to a record A$73.8-billion in the year to May, with coal and liquefied natural gas (LNG) exports driving the growth. Coal exports reached A$32.8-billion in the year to May, which was up more than A$5-billion on the previous year, reflecting the improvement in... 

Angola to recover overseas funds by year-end, Lourenco says

By: Bloomberg     4th July 2018 Angola plans to start recovering large funds held by citizens in overseas accounts toward the end of the year under a law meant to repatriate cash that was illegally moved abroad, President Joao Lourenco said. Lourenco said in December that the government wouldn’t ask any questions if wealthy... 

US probe darkens Glencore's horizons from Africa to Americas

By: Bloomberg     4th July 2018 The US corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world’s largest commodity trader and its billionaire CEO Ivan Glasenberg. The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss... 

Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

By: Simone Liedtke     3rd July 2018 China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China... 

Lonmin sells Petrozim stake

By: Creamer Media Reporter      29th June 2018 Platinum miner Lonmin has entered into an agreement to sell its 50% interest in Petrozim Line to the National Oil Infrastructure Company of Zimbabwe for $14.75-million. This is in line with its strategy of selling noncore assets. 

Indian govt likely to backtrack on splitting GAIL

By: Ajoy K Das     29th June 2018 In an apparent reversal of its earlier plans, the Indian government is toying with a proposal to create more independent verticals within gas infrastructure major, GAIL India, instead of splitting the company. According to indications available, the government is to accede to demands of GAIL and... 

India's options limited as US mounts pressure to stop oil imports from Iran

By: Ajoy K Das     29th June 2018 With the Trump Administration mounting pressures on India to stop crude oil imports from Iran, the option of part barter and part payment in Indian currency to buy Iranian crude, may not work this time around. Unlike during earlier Western sanctions on Iran, India has devised a mechanism to... 

India's options limited as US mounts pressure to stop oil imports from Iran

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Aurora warns of Molopo writedown

By: Esmarie Iannucci     29th June 2018 ASX-listed Aurora Funds Management was considering writing down its investment in fellow listed Molopo Energy. The company on Friday told shareholders that Aurora had formed the view that if Molopo’s transactions around the Orient oil and gas project could not be unwound, and the cash returned... 

Filtration company facilitates required high quality for fuel

By: Tasneem Bulbulia     29th June 2018 With clean, uncontaminated fuel being the key to optimal fuel system performance and longevity for modern diesel engines used in the mining industry, filtration designer and manufacturer Cummins Filtration is ensuring that its products and services cater to this. This entails the proper... 

Filtration company facilitates required  high quality for fuel
MARKET NEEDS Cummins Filtration offers products to support the rigorous requirements of modern high-pressure fuel systems

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