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Oil and Gas News

Santos sells Asian portfolio for $221m

By: Esmarie Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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 Iannucci     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

Woodside plans Pluto LNG expansion

By: Esmarie Iannucci     18th April 2018 Australian oil and gas major Woodside Petroleum has flagged plans to accelerate the development of the Scarborough gas field through an expansion of the Pluto liquefied natural gas (LNG) project. Woodside in March acquired ExxonMobil’s interest in the Scarborough gas field, taking its interest... 

Industry urges quick gas ramp up as Northern Territory gives fracking green light

By: Esmarie Iannucci     17th April 2018 The Northern Territory government will lift a near two-year moratorium on fracking, accepting all 135 recommendations made by a recent independent inquiry. Chief Minister Michael Gunner said on Tuesday that the implementation of the recommendations in the inquiry report would begin, noting that... 

Industry urges quick gas ramp up as Northern Territory gives fracking green light

Canada's Trudeau ready to offer aid to ensure pipeline is built

By: Reuters     16th April 2018 Canadian Prime Minister Justin Trudeau on Sunday moved to end an escalating crisis over a Kinder Morgan Canada oil pipeline, saying Ottawa was prepared to offer financial aid to ensure the project went ahead. Trudeau cited investor confidence as one reason to help Kinder Morgan Canada, part of... 

Canada's Trudeau ready to offer aid to ensure pipeline is built

Glencore releases all-embracing 117-page sustainability report

By: Martin Creamer     16th April 2018 One of the strategic priorities of diversified mining and marketing company Glencore is to invest in community initiatives that deliver sustainable socioeconomic benefits, the London- and Johannesburg-listed company states in today’s 117-page Sustainability Report 2017, which emphasises the... 

Glencore releases all-embracing 117-page sustainability report
Glencore's Anna Krutikov

Gorgon Stage 2 gets approval

By: Esmarie Iannucci     16th April 2018 The Western Australian state government has welcomed a decision by US energy major Chevron to proceed with the second stage of the Gorgon project expansion, off the coast of Western Australia. Premier Mark McGowan said Chevron's subsea development at the Gorgon natural gas project will create... 

Gorgon Stage 2 gets approval

First ‘Resources for Future Generations’ conference to be held in Vancouver

By: Henry Lazenby     13th April 2018 The Resources for Future Generations conference (RFG2018) is scheduled to make its debut on the Canadian resource conference circuit between June 16 and 21, in Vancouver, and is shaping up to be an event unlike the myriad of competing forums held in Canada throughout the year. RFG2018 chairperson... 

First ‘Resources for Future Generations’ conference to be held in Vancouver
Photo by Resources for Future Generations Conference
RFG2018 chairperson John Thompson

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Mining billionaire backs outback gas pipeline to ease power woes

By: Bloomberg     13th April 2018 Billionaire Andrew Forrest is studying a proposed 1 500-mile (2 400-km) transcontinental natural gas pipeline as part of his iron ore company’s strategy to diversify and to boost Australia’s power supply network. Fortescue Metals Group Ltd. confirmed it has undertaken work for a duct that would... 

New Zealand bans new permits for offshore oil and gas exploration

By: Esmarie Iannucci     13th April 2018 The New Zealand government has announced that no new future offshore oil or gas exploration permits would be granted, in a bid to address climate change. “All three of the parties in this government are agreed that we must take this step as part of our package of measures to tackle climate... 

New Zealand bans new permits for offshore oil and gas exploration

ExxonMobil restarts quake-hit PNG LNG ops ahead of schedule

By: Esmarie Iannucci     13th April 2018 The Papua New Guinea liquefied natural gas (PNG LNG) project has restarted production ahead of schedule, following the 7.5 magnitude earthquake in the country’s highlands in February. Project operator ExxonMobil reported on Friday that one train was currently operating at the LNG plant near Port... 

International Frontier partnership spuds first hole at Mexican Tecolutla block

By: Henry Lazenby     13th April 2018 Calgary-based oil and gas developer International Frontier Resources (IFR) announced on Thursday that the first evaluation well, TEC-10, has been spudded at its onshore Tecolutla block, in Mexico, which it is developing in partnership with Mexican joint venture (JV) partner Tonalli Energia. The... 

West African mining industry rising despite challenges

By: Erin Steenhoff-Snethlage     13th April 2018 West Africa has the potential to attract greater investment and further develop its fledgling mining industry, says Centurion Law group CEO NJ Ayuk. “Almost every country in the region has mineral reserves that have barely been touched, in contrast with Southern Africa, where mining is a mature... 

West African mining industry  rising despite challenges
WEST AFRICA RISING West Africa’s diverse mineral resources, increasing political stability and relatively low entry costs are ideal conditions for mining investment

EY launches new team in Natural Resources segment

By: Nadine James     13th April 2018 Assurance and advisory firm EY in Africa, has incorporated a new Transaction Advisory Services (TAS) technical team into its Natural Resources segment. The team includes a century’s worth of combined mining and oil and gas expertise and combines “deep sector expertise and economic competence” to... 

Coal India to scout for global CBM technology, production partner

By: Ajoy K Das     12th April 2018 With India’s Cabinet Committee for Economic Affairs (CCEA) on Wednesday liberalising rules for coalbed methane (CBM), Coal India Limited (CIL) will shortly start scouting for global technology and production partners to extract the gas from coal blocks that it holds. While detailed search plans... 

India proposes bringing LNG terminals within the PNGRB regulatory framework

By: Ajoy K Das     11th April 2018 India’s upstream oil and gas sector regulator, Petroleum and Natural Gas Regulatory Board (PNGRB), has proposed to bring all new liquefied natural gas (LNG) storage and regasification projects under its regulatory framework. The regulator’s draft 'Petroleum and Natural Gas Regulatory Board... 

Canada's Saskatchewan sees smaller fiscal deficit as spending kept tight

By: Reuters     11th April 2018 The Canadian province of Saskatchewan, home to major potash and uranium reserves, said on Tuesday it would run a smaller deficit in the current fiscal year and balance its books in 2019/20 as it keeps a tight lid on spending despite projected higher commodity prices. Saskatchewan, which has... 

Canadian crude increasingly attractive for US Gulf Coast refineries as market landscape changes

By: Henry Lazenby     10th April 2018 Canadian crude oil could account for up to one-third of the US Gulf Coast (USGC) region’s heavy oil refining market by 2020, a new report by market research and consultancy firm IHS Markit has found. According to the analyst’s latest research, supplies of Canadian oil sands heavy crude are... 

Canadian crude increasingly attractive for US Gulf Coast refineries as market landscape changes

US to lead global crude production as soon as 2023 – IEA

By: Henry Lazenby     10th April 2018 US shale production growth is expected to lift the jurisdiction to being the top oil producer globally by 2023, a report from the International Energy Agency (IEA) has shown. According to the IEA, US output will expand by 3.7-million barrels a day, more than half of the world’s expected... 

Kinder Morgan suspends Trans Mountain Expansion project as political firestorm heats up

By: Henry Lazenby     9th April 2018 Pipeline operator Kinder Morgan Canada (KMC) has placed non-essential activities and related spending to twin an existing crude oil pipeline between Alberta and British Columbia on ice, as opposition to the project in British Columbia intensifies. The C$7.4-billion project, which was previously... 

Kinder Morgan suspends Trans Mountain Expansion project as political firestorm heats up

Queensland awards Santos exploration rights near Injune

By: Esmarie Iannucci     6th April 2018 Oil and gas major Santos and its Gladstone liquefied natural gas (GLNG) partners have been granted the rights to explore for gas near Injune, in Queensland. Queensland Mines Minister Dr Anthony Lynham said Santos and its joint venture (JV) partners Total, Petronas, Kogas and Australia Pacific... 

Queensland awards Santos exploration rights near Injune
QRC CEO Ian Macfarlane

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