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Oil and Gas News

Rey buys Lennard Shelf, looks for partners

By: Esmarie Swanepoel     14th May 2018 ASX-listed junior Rey Resources has signed an agreement with fellow-listed Key Petroleum and Indigo Oil to acquire the Lennard Shelf blocks, in Western Australia. Lennard Shelf constitutes one exploration permit, one retention lease and one production licence covering some 1 145 km2 of land... 

LNG exports put Australia oil and gas in trade surplus

By: Esmarie Swanepoel     14th May 2018 The Australian oil and gas industry recorded a trade surplus for the first time in 13 years in 2016/17, new data from the Australian Petroleum Production and Exploration Association (Appea) has shown. Appea on Monday reported that owing to a 35% increase in the value of liquefied natural gas... 

LNG exports put Australia oil and gas in trade surplus

PNG LNG delivering economic promises - Oil Search

By: Esmarie Swanepoel     14th May 2018 ASX-listed Oil Search has maintained that the Papua New Guinea liquefied natural gas (PNG LNG) project has been beneficial to the region, despite reports suggesting otherwise. Social justice advocates Jubilee Australia has claimed that the PNG LNG project has caused increased violence in PNG as... 

More agile Sherritt focused on building ‘cycle-proof’ balance sheet

By: Henry Lazenby     11th May 2018 Canadian diversified miner Sherritt International is focused on further strengthening its balance sheet, with a view to building a “cycle-proof” balance sheet as Class I nickel and cobalt prices rise, president and CEO David Pathe tells Mining Weekly Online. Building on from the late... 

More agile Sherritt focused on building ‘cycle-proof’ balance sheet
Photo by Reuters
Nickel ore

Higher metals prices prop up BC mining industry in 2017 – PwC

By: Creamer Media Reporter      10th May 2018 British Columbia's mining industry remained upbeat in 2017, as prices for most metals and minerals produced in the province continued to steadily recover from multiyear lows. Although most commodity prices remain below the record highs seen in 2011, the recent increases are part of an upward... 

Radebe links IRP certainty to Ramaphosa’s $100bn investment drive

By: Terence Creamer     10th May 2018 The long awaited update to South Africa’s Integrated Resource Plan (IRP) will be presented to Cabinet for its approval on August 15, Energy Minister Jeff Radebe confirmed on Thursday, adding that the document would provide much-needed certainty for investors in the electricity sector. The... 

Radebe links IRP certainty to Ramaphosa’s $100bn investment drive
Photo by Dylan Slater
Energy Minister Jeff Radebe

Gold industry running risk of becoming irrelevant – Bristow

By: Martin Creamer     10th May 2018 The gold mining industry is running the risk of becoming irrelevant to the investment community. “It hasn’t delivered much value for a long time,” Randgold Resources CEO Dr Mark Bristow commented to Mining Weekly Online during an interview to mark the company’s presentation of first-quarter... 

Gold industry running risk of becoming irrelevant – Bristow
Photo by Creamer Media
Randgold Resources CEO Dr Mark Bristow

US exit of Iran nuclear deal places new risks on $4bn India gas project

By: Ajoy K Das     10th May 2018 US President Donald Trump’s tearing up the multilateral nuclear deal with Iran has thrown a new spanner in works of India’s protracted plans to develop Farzad B offshore gasfields along the Persian Gulf coast. The consortium of Indian companies, led by national exploration and production (E&P)... 

US exit of Iran nuclear deal places new risks on $4bn India gas project

Pipeline impasse to cost Canada C$15.8bn this year 

By: Henry Lazenby     10th May 2018 Canada can expect to incur up to C$15.8-billion in lost revenues this year because of pipeline capacity bottlenecks in the country, and fervent opposition to building new pipelines that can open new markets for the domestic industry. A new report by Canadian independent policy think tank, the... 

Aurora takes issue with transfer of Molopo’s Orient project

By: Esmarie Swanepoel     9th May 2018 Suitor Aurora Funds Management has raised concerns with the Australian Securities and Investment Commission and the Australian Securities Exchange over recent actions from takeover target Molopo Energy. Molopo this week informed shareholders that the company had taken full ownership of the... 

Shell sells out of Canadian Natural position for C$4.3bn

By: Henry Lazenby     8th May 2018 British–Dutch multinational oil and gas company Royal Dutch Shell has agreed to sell its entire stake in Calgary, Alberta-based company Canadian Natural Resources in a deal valued at about C$4.3-billion. Shell has reached agreement with underwriters Goldman Sachs & Co, RBC Capital Markets,... 

Shell sells out of Canadian Natural position for C$4.3bn

Govt lends approvals assistance to offshore Transborders LNG project

By: Esmarie Swanepoel     8th May 2018 The federal government has granted special project status to the A$1.6-billion offshore gas project being developed by unlisted Transborders Energy. Perth-based Transborders Energy is planning a floating liquefied natural gas (FLNG) project, which is expected to increase Australia’s LNG exports... 

Govt lends approvals assistance to offshore Transborders LNG project

Taxpayers federation to seek intervenor status in pipeline, carbon tax lawsuits

By: Henry Lazenby     8th May 2018 The Canadian Taxpayers Federation (CTF) will seek standing as an intervenor in two upcoming court reference cases launched by the governments of British Columbia and Saskatchewan. In British Columbia, the provincial government is asking the courts if they have the power to regulate oil shipments,... 

IFR JV hits Tecolutla TEC-10 target in Mexico

By: Henry Lazenby     7th May 2018 Calgary-based oil and gas explorer International Frontier Resources (IFR) announced on Monday that its joint venture Tonalli Energia has reached the intended depth for its first evaluation well on its onshore Tecolutla block TEC-10 well. In partnership with Mexican petrochemical leader Grupo... 

Qatar steps in to buy Rosneft stake after China deal collapses

By: Bloomberg     7th May 2018 Qatar emerged as a major shareholder in Rosneft on Friday after a $9-billion deal to sell a stake in Russia’s State-run oil producer to China’s troubled CEFC Energy collapsed. Qatar Investment Authority stepped in after the sellers – a consortium of QIA itself and mining giant Glencore – told... 

BP said to tap Morgan Stanley as it weighs buying BHP assets

By: Bloomberg     4th May 2018 BP is weighing an acquisition of some of BHP Billiton’s energy assets as the British oil major seeks more US shale, according to people familiar with the matter. The London-based company is working with Morgan Stanley to advise on the plans, said the people, asking not to be identified as the... 

Canadian feds to intervene in BC reference question

By: Henry Lazenby     4th May 2018 Ottawa announced on Thursday that it will intervene in the constitutional reference case filed by the government of British Columbia under the British Columbia Constitutional Questions Act. “We are confident in Parliament’s jurisdiction and will intervene on the question in order to defend our... 

Canadian feds to intervene in BC reference question

Zimbabwe to sign $700m coal-bed methane deal this month

By: Bloomberg     3rd May 2018 Zimbabwe’s government plans to sign a $700-million deal with an investor that will develop a coal-bed methane site, Mines Minister Winston Chitando said. The accord comes as new President Emmerson Mnangagwa, who took office in November, courts foreign investment to rebuild an economy that halved... 

Foreign bidders give India’s maiden open acreage oil, gas block auction a miss

By: Ajoy K Das     3rd May 2018 International oil and gas exploration and production (E&P) majors have stayed away from the first round of India’s oil and gas fields auction. According to the sector regulator, Directorate General of Hydrocarbons (DGH), 110 bids have been received for 55 onshore and offshore oil and gas blocks,... 

AERA report sees further growth in Australia’s gas sector

By: Esmarie Swanepoel     3rd May 2018 The latest assessment of Australia’s energy resources has found that the country contains nearly 600 times its total primary domestic energy consumption in the form of economic demonstrated resources (EDRs). “Australia has in excess of 3.5-million petajoules of EDRs, like coal, gas oil and... 

AERA report sees further growth in Australia’s gas sector

Santos sells Asian portfolio for $221m

By: Esmarie Swanepoel     3rd May 2018 Oil and gas major Santos has announced the sale of its noncore Asian portfolio of assets to Ophir Energy in a deal valued at $221-million. ASX-listed Santos will divest of its 31.87% interest in the Chim Sao and Dua oil fields, in Vietnam, the 67.5% interest in the Maleo and Peluang gas fields,... 

BHP sells Minerva plant to Cooper Energy and partners

By: Esmarie Swanepoel     1st May 2018 ASX-listed Cooper Energy, in joint venture (JV) with AWE and Mitsui E&P Australia, has struck a deal with mining major BHP to acquire that company’s 90% interest in the Minerva gas plant, in Victoria. Cooper Energy, which already holds a 10% interest in the gas plant, would hold a 50% interest... 

Production restarted at PNG LNG

By: Esmarie Swanepoel     30th April 2018 The second train of the Papua New Guinea liquefied natural gas (PNG LNG) project has restarted production and exports, following an earthquake in February. Production has been gradually increasing since the Hides gas conditioning plant and one LNG train was restarted earlier this month. 

BC govt court case another ‘stall tactic’ to block Trans Mountain expansion – CAPP

By: Henry Lazenby     27th April 2018 A reference court case brought by the environment-focused minority provincial government of British Columbia that seeks a confirmation of the province's constitutional rights to defend against the risks of a bitumen spill has been criticised by Canada’s petroleum producers as “just another stall... 

BC govt court case another ‘stall tactic’ to block Trans Mountain expansion – CAPP

India, Iran near a truncated deal on gasfield development

By: Ajoy K Das     26th April 2018 India and Iran are closing in on a deal for the development of the Farzad B gasfield, albeit of a much smaller size. Diplomatic negotiations between the two countries since early this year have narrowed down differences on the gas project and this will be followed up by a consortium of Indian... 

Santos delivers Scotia project 16% under budget

By: Esmarie Swanepoel     26th April 2018 ASX-listed Santos has completed the commissioning and start up of its $400-million Scotia project, in the Bowen basin of Queensland. The company told shareholders that the project was completed ahead of schedule and under budget, with initial full field production exceeding 40 TJ/d, in line... 

Santos delivers Scotia project 16% under budget

Woodside signs gas supply MoU with Perdaman

By: Esmarie Swanepoel     26th April 2018 Australian oil and gas producer Woodside has signed a memorandum of understanding (MoU) with multinational Perdaman to supply gas to the proposed $3.5-billion coal-to-urea plant being developed on the Burrup Peninsula. Under the MoU, Woodside will supply some 125 TJ/d of domestic gas to the... 

Sherritt narrows Q1 loss as metals prices jump

By: Henry Lazenby     26th April 2018 Canadian diversified miner Sherritt International has reported a narrower first-quarter headline loss of C$14.7-million, or C$0.04 a share, compared with a loss of C$82.7-million, or C$0.28 a share, for the same period of 2017, mainly as higher metals prices made up for lower output. Sherritt... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

By: Henry Lazenby     25th April 2018 A new report that fine-combed the national pollutant release and transfer registers (PRTRs) of Canada, the US and Mexico to explore pollutant data reported by industrial facilities, has pointed to the critical need to standardise the way information is collected across the three jurisdictions,... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

GAIL India likely to be split ahead of setting up natural gas exchange

By: Ajoy K Das     25th April 2018 The Indian government is likely to split national gas infrastructure and marketing major GAIL India into separate entities, with one controlling pipeline construction and operation and the other natural gas marketing. The proposal comes in the wake of the Indian government moving ahead to set up... 

Barossa LNG project advances to FEED phase – Santos

By: Esmarie Swanepoel     24th April 2018 Australian oil and gas major Santos and its joint venture (JV) partners have advanced the Barossa project to the front-end engineering and design (FEED) phase of development. FEED activities will involve engineering and commercial work, aimed at finalising the project’s technical detail, cost,... 

Barossa LNG project advances to FEED phase – Santos

Beach production surges after Lattice buy

By: Esmarie Swanepoel     24th April 2018 Oil and gas producer Beach Energy has reduced its expected full-year capital spend from between A$405-million and A$455-million, to between A$370-million and A$400-million. The ASX-listed company said on Tuesday that the tightening of capital spend during the 2018 financial year was as a result... 

APLNG to supply more gas to domestic market

By: Esmarie Swanepoel     23rd April 2018 The Australia Pacific liquefied natural gas (APLNG) project has committed a further 21 PJ of gas to the domestic east coast market. The Queensland Resources Council (QRC) CEO Ian Macfarlane on Monday said that the additional gas from APLNG was another sign that the policy setting in Queensland... 

India seeks consultants to frame regulations for gas trading hub

By: Ajoy K Das     20th April 2018 With the Indian government aiming to set up a natural gas trading hub in the country, sector regulator the Petroleum and Natural Gas Regulatory Board (PNGRB) is seeking to appoint a consultant to help determine a regulatory mechanism for such a trading exchange. “In  order to further boost the... 

Beneficiation in the spotlight this month at Geneva forum

By: Nadine James     20th April 2018 As more than 90 developing economies are dependent on commodity exports, building the skills needed to add value to raw materials and provide decent work are some of key objectives to be discussed next week at the United Nations Conference on Trade and Development’s (Unctad's) eighth Global... 

Kinder Morgan pipeline expansion investment untenable – CEO

By: Henry Lazenby     19th April 2018 The CEO of Kinder Morgan Steven Kean has conceded that the C$7.4-billion twinning of the existing Kinder Morgan crude oil pipeline between Alberta and British Columbia “may be untenable for a private party to undertake”. He made the comments during the company’s first-quarter conference call on... 

Santos production falls in Q1

By: Esmarie Swanepoel     19th April 2018 Planned maintenance has seen oil and gas major Santos’ first-quarter production decline by 1.2-million barrels of oil equivalent, compared with the previous quarter, to 13.8-million barrels of oil equivalent. The ASX-listed major told shareholders on Wednesday that planned maintenance in Moomba... 

Poll shows divided British Columbia opinions for/against Kinder Morgan pipeline expansion 

By: Henry Lazenby     18th April 2018 A slim majority of Canadians and British Columbians have come forward in favour of the proposed twinning of Kinder Morgan’s diluted bitumen pipeline connecting Canada’s Alberta oil patch with new markets in the Far East, via the West Coast. A new survey conducted by the nonprofit Angus Reid... 

Poll shows divided British Columbia opinions for/against Kinder Morgan pipeline expansion

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