http://www.miningweekly.com
R/€ = 15.90 Change: -0.01
R/$ = 14.07 Change: 0.00
Au 1320.93 $/oz Change: 5.93
Pt 805.07 $/oz Change: 17.61
 

Oil and Gas News

Mooted MPRDA Amendment Bill withdrawal an indication govt wants to end regulatory uncertainty, says lawyer

By: Nadine James     7th September 2018 Minerals Resources Minister Gwede Mantashe’s recommendation to withdraw the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill is likely because government wants to remove regulatory uncertainty affecting the mining sector, and in so doing, foster a more attractive investor... 

Fuel-price intervention will have ‘no impact on fiscus’

By: Terence Creamer     6th September 2018 Cabinet insisted on Thursday that Energy Minister Jeff Radebe’s intervention to hold fuel prices steady in September – rather than to allow for the August under-recovery to be passed on to motorists as usual – would have no impact on the fiscus. In a statement released following its Wednesday... 

Fuel-price intervention will have ‘no impact on fiscus’

Northern Territory’s 5-point plan to build a gas industry

By: Esmarie Iannucci     6th September 2018 The Northern Territory government has revealed a five-point gas strategy to drive its vision of creating a world-class hub for gas production, manufacturing and services, by 2030. The strategy will be aimed at getting more liquefied natural gas (LNG) in Darwin, and expand the Darwin LNG export... 

India-US dialogue to set outline for Indian crude oil imports from Iran

By: Ajoy K Das     5th September 2018 The Indian government will not totally halt crude oil imports from Iran, but will likely show flexibility on volumes of inward shipment as a nuanced stance at the US-India bilateral engagements starting Wednesday. The Indian government reckons that this willingness to reduce crude volume imports... 

Appea blasts South Australian decision

By: Esmarie Iannucci     5th September 2018 The Australian Petroleum Production and Exploration Association (Appea) has condemned the South Australian government’s decision to support a bill to legislate a decade-long moratorium on hydraulic fracturing (fracking) in the state’s Limestone Coast region. “It is disappointing to see the state... 

Serious questions being asked about decision to cap fuel price increase 

By: Terence Creamer     4th September 2018 Questions are being asked about Energy Minister Jeff Radebe’s decision to approve an “urgent temporary fuel price intervention” leaving prices unchanged for September, apart from a 4.9c/l increase in the retail margin for petrol to accommodate wage increases for forecourt staff. Ahead of the... 

Serious questions being asked about decision to cap fuel price increase

Grindrod reports strong recovery in interim earnings

By: Marleny Arnoldi     31st August 2018 Freight and financial services group Grindrod has achieved a strong year-on-year recovery in the six months to June 30, with its earnings a share having increased to 317c, compared with a loss a share of 11.5c in the first half of 2017. Headline earnings a share were 3.8c, compared with a... 

Trudeau’s grand bargain unravels after Alberta nixes carbon plan

By: Bloomberg     31st August 2018 Canada’s precarious relationship with its vast oil riches flared up again Thursday after a federal court struck down Prime Minister Justin Trudeau’s approval of a key pipeline, reviving fears about the country’s ability to get its resources to market. While the government pledged to press ahead... 

Trudeau’s grand bargain unravels after Alberta nixes carbon plan
Canadian Prime Minister Justin Trudeau

Woodside to make FID at SNE in 2019

By: Esmarie Iannucci     31st August 2018 Australian oil and gas producer Woodside is expected to take a final investment decision on its SNE oil field, offshore Senegal, in 2019. Woodside’s business integration manager for Senegal field development, Jamie Stewart told delegates at the Africa Downunder conference, that Woodside would... 

M&R upbeat on prospects for mining unit amid commodity cycle ‘upturn’

By: Terence Creamer     30th August 2018 Engineering and construction group Murray & Roberts (M&R) is upbeat about prospects for its strong-performing underground mining unit, which was the biggest contributor to the group’s 2018 financial performance, as well as to the growth in the JSE-listed company’s R30-billion order book. The... 

M&R upbeat on prospects for mining unit amid commodity cycle ‘upturn’
M&R Cementation aiming to become leading mechanised mining operator in Africa

Central Petroleum gets authority to prospect in Qld

By: Esmarie Iannucci     29th August 2018 The Queensland government has granted ASX-listed Central Petroleum an Authority to Prospect on coal seam gas acreage in the Surat Basin, covering some 77 km2. Central Petroleum was announced as the preferred bidder for the Queensland acreage in March this year, and in June agreed to a 50:50... 

Mexico's next leader says NAFTA deal preserves energy 'sovereignty'

By: Reuters     28th August 2018 Mexican president-elect Andres Manuel Lopez Obrador welcomed a deal between Mexico and the United States to overhaul the North American Free Trade Agreement (NAFTA) that he said preserved Mexican "sovereignty" in the energy sector. The U.S.-Mexico deal was announced by US President Donald Trump... 

GAIL to hire out gas pipeline capacity to avoid company break-up

By: Ajoy K Das     27th August 2018 State-run natural gas logistics and marketing major GAIL India will start hiring capacity on its vast pipeline network to third-party gas transporters in a bid to prevent government’s plans to break up the company. Under the new business plan, GAIL will offer common carriers the option of hiring... 

EWC gets government funding to restart gasfields

By: Esmarie Iannucci     24th August 2018 ASX-listed Energy World Corporation (EWC) has been granted A$2-million in government funding under the Gas Acceleration Programme to accelerate the recommisisoning of the Eromanga and Gilmore gas fields, in Queensland. The fields are fully owned by EWC and were placed on care and maintenance in... 

GAIL plans core, noncore diversification

By: Ajoy K Das     23rd August 2018 India’s State-owned natural gas marketer and infrastructure provider, GAIL India, is seeking to diversify into ‘core’ and ‘noncore’ business verticals that extend from solar power generation and electric vehicle charging stations to water transportation pipelines. The natural gas logistics major... 

South African watchdog approves Glencore's bid for Chevron assets

By: Reuters     23rd August 2018 South African competition watchdog has given Glencore's bid worth roughly $900-million for Chevron's local and Botswana assets the green light, it said on Thursday. But the Competition Commission placed a number of conditions on its approval, including the preservation of jobs after the deal and... 

Santos half-year profit doubles

By: Esmarie Iannucci     23rd August 2018 Oil and gas major Santos has doubled its interim underlying profit in the six months to June, as revenues surged. Underlying profit for the interim period was reported at $217-million, compared with the $109-million in the previous corresponding period, while earnings before interest, tax,... 

Santos bids $2.15bn for WA-focused Quadrant

By: Esmarie Iannucci     22nd August 2018 Oil and gas major Santos has made a $2.15-billion play for Western Australia-focused oil and gas producer Quadrant Energy. Quadrant holds natural gas and oil production, as well as near- and medium-term development, appraisal and exploration assets across more than 52 000 km2 of acreage,... 

Santos bids $2.15bn for WA-focused Quadrant

Lattice Energy integration boosts Beach Energy’s FY results

By: Esmarie Iannucci     21st August 2018 Oil and gas producer Beach Energy has reported a 92% surge in revenue for the 2018 financial year, and an 86% increase in underlying net profit after tax, following the integration of the Lattice Energy assets into its portfolio. Beach in September last year struck a A$1.58-million deal to... 

Review launched over Australia's offshore potential

By: Esmarie Iannucci     21st August 2018 The federal government has announced a review into the commercial value of south-east Australian offshore petroleum titles. Federal Resources and Northern Australia Minister Matt Canavan said the National Offshore Petroleum Titles Administrator (NOPTA) has been assigned to conduct the review. 

India’s OVL and Sudan seek to settle default payments through fresh talks

By: Ajoy K Das     20th August 2018 ONGC Videsh Limited (OVL), the overseas arm of India’s national oil, gas exploration and production major ONGC, has agreed with the Sudan government to work out a mechanism to settle the $400-million outstanding dues of the Indian oil company. The decision to find a solution through negotiations... 

Commodity price increases lack conviction – IHS

By: Nadine James     17th August 2018 Commodity analysts IHS Markit on Thursday reported that the Materials Price Index (MPI) had risen by 0.5% in the last week, but that the index’s ten subcomponents were evenly split between those showing increases and those showing declines, highlighting the uncertainty in markets. The MPI... 

BP signs up for PNG LNG

By: Esmarie Iannucci     17th August 2018 The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial... 

Origin swings to profit

By: Esmarie Iannucci     16th August 2018 Energy major Origin Energy has swung into profit for the financial year ended June, following a full year of operations from both the liquefied natural gas (LNG) trains at its Australia Pacific LNG operation, as well as higher commodity prices. Statutory profit for the full year to June was... 

Woodside posts A$541m half-year profit

By: Esmarie Iannucci     15th August 2018 Oil and gas producer Woodside has reported an interim net profit after tax of A$541-million for the six months to June, with operating cash flows for the period up by 25% on the first half of 2017. Woodside said on Wednesday that the increased operating cash flows was driven by higher production... 

Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines 

14th August 2018 Glencore’s local downstream oil investments are expected to be concluded in the near future, Rangold Resources is looking across the Atlantic along the northern edge of South America for new prospects, and Transnet has derailed its reputation by allowing derailments and rail cancellations on its... 

Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines
Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines

Western Surat gas project receives final enviro nod

By: Esmarie Iannucci     14th August 2018 ASX-listed Senex Energy has been given commonwealth environmental approval for its Western Surat gas project, bringing the project one step closer to development. Along with the previously granted state environmental approvals and petroleum lease, Senex has received all primary approvals to... 

Threat of contagion in emerging markets deepens commodity risk

By: Bloomberg     13th August 2018 When Thailand devalued its currency two decades ago, few in global commodity markets took note. Within a year, the crisis morphed into an emerging-market rout that eviscerated the price of everything from crude oil to copper. Fast forward to today and Turkey is presenting a similar challenge. The... 

Santos expands drilling in Cooper basin

By: Esmarie Iannucci     13th August 2018 Oil and gas major Santos has started operation of a fourth rig in the Cooper Basin, as part of a drive to produce more natural gas to supply the east coast domestic market. The company on Monday said that the rig will drill eight wells by the end of this year, starting with the Big Lake field,... 

Aurora walks away from Molopo Energy

By: Esmarie Iannucci     10th August 2018 Suitor Aurora Funds Management has withdrawn its takeover bid for ASX-listed Molopo Energy, saying the company had made a number of transactions that are considered to be defeating conditions of the bid. The transactions saw Molopo not only take full ownership of the Orient oil and gas project,... 

Glencore closing in on oil deal, transacting with Eskom 

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Glencore closing in on oil deal, transacting with Eskom
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Santos taps possible PNG LNG source

By: Esmarie Iannucci     8th August 2018 Australian oil and gas major Santos on Wednesday reported that drilling at its Barikewa-3 well, in Papua New Guinea (PNG), has confirmed that there was significant natural gas resource close to the PNG liquefied natural gas (LNG) project infrastructure, which could still be developed. The well... 

Rosneft more than triples Q2 net profit, shares hit record

By: Reuters     7th August 2018 Russia's largest oil producer Rosneft said on Tuesday its second-quarter net profit more than tripled to 228-billion roubles on higher production and prices, pushing its shares to an all-time peak. Rosneft, in which Qatar is set to become the third-largest shareholder after the Russian state and... 

Continental Resources inks deal with mineral royalty manager

By: Reuters     7th August 2018 Shale oil producer Continental Resources said on Monday that it formed a subsidiary to manage mineral royalties with Franco-Nevada Corp, part of Continental's plan to diversify revenue sources. Mineral rights are often less-risky investments than drilling wells, which can carry large... 

Great Australian Bight holds a treasure trove for South Australia

By: Esmarie Iannucci     6th August 2018 A new study by the Australian Petroleum Production and Exploration Association (Appea) has found that successful oil exploration in the Great Australian Bight could see the creation of more than 2 000 jobs in South Australia and generate over A$7-billion a year in average tax revenue to federal... 

Great Australian Bight holds a treasure trove for South Australia

Rising oil prices threaten to erode mining sector's profitability

By: Reuters     6th August 2018 Rising oil prices are the latest challenge to the mining sector's profitability, threatening to eclipse hard-fought efficiency gains during the past two years and increasing metals demand. Miners use heavy fuel oil to generate electricity at remote sites; they also use it for transport, with... 

Rising oil prices threaten to erode mining sector's profitability

Gas industry pushes for further easing of restrictions to boost supply

By: Esmarie Iannucci     2nd August 2018 The resources industry has called for a further easing of restrictions on the gas industry to ensure the development of more supply, according to the Australian Competition and Consumer Commission’s (ACCC’s) latest Gas Market Inquiry report. The ACCC said on Thursday that while conditions on the... 

Gas industry pushes for further easing of restrictions to boost supply

CSIRO starts gas monitoring in NT

By: Esmarie Iannucci     1st August 2018 The Australian Petroleum Production and Exploration Association (Appea) has welcomed an announcement by the Northern Territory government that the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has started work to monitor landscape methane concentrations in the Beetaloo... 

Latest News

more

Latest Videos

more

Press Office

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close