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Oil and Gas News

Shell, Blackstone eye $10bn bid for BHP US shale assets – Sky News

By: Reuters     9th March 2018 Royal Dutch Shell and US private equity firm Blackstone Group are working on a joint $10-billion bid for BHP Billiton's US shale assets, Sky News said on Thursday. Shell and Blackstone's offer will only be one of several credible proposals that BHP will receive for its US shale operations, Sky... 

State revenues from extractive industries increasing in Mozambique

By: Rebecca Campbell     9th March 2018 The extractive industry – oil, gas and mining – now provides the Mozambican State with 4.1% of its revenues from taxation. This figure was released by the country’s Director General of Tax, Augusto Tacarindua, at a recent seminar in Maputo on taxing extractive industries. In the past, the sector... 

Resources Watch  

8th March 2018 This week: Sasol expects to realise $1-billion from noncore asset disposals And, Northam Platinum to create 6 500 new jobs in growth thrust 

Resources Watch
Resources Watch

World's biggest mining show draws huge crowd, signalling mining investment optimism

By: Henry Lazenby     7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

AWE board recommends shareholders accept Mitsui offer

By: Schalk Burger     7th March 2018 The board of ASX-listed oil and gas company AWE on Wednesday said that it continued to recommend that shareholders accept the offer from multinational industrial conglomerate Mitsui, which would declare its bid unconditional if its interest exceeds 50.1% by March 14. Mitsui is offering AWE... 

Energy execs says tariff gambit could hit shale, LNG project costs

By: Reuters     7th March 2018 Energy executives say the Trump administration's proposed steel and aluminum tariffs could bump up the cost of big-ticket projects needed for rapidly rising US shale oil and gas output by three to 10%. Higher construction costs could slow growth in production and exports of crude and natural gas... 

German ruling likely blessing in disguise for platinum - RBPlat 

By: Martin Creamer     6th March 2018 The German Federal Court ruling on diesel car emissions, which could cost transgressors eight-billion euros in fines a year, is seen as a likely blessing in disguise for platinum, Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said on Tuesday. The global backlash against diesel-engine cars,... 

German ruling likely blessing in disguise for platinum - RBPlat
Royal Bafokeng Platinum CEO Steve Phiri’s presentation of results is covered by Mining Weekly Online’s Martin Creamer. Photograph, Video & Video Editing: Darlene Creamer. Recorded 6.03.2018

Mining-specific staff recruitment, management app developed 

By: Mia Breytenbach     6th March 2018 To refine and improve the execution of recruitment within the mining industry, mining and engineering professionals recruiter TrueVine Consulting has developed a new, innovative online recruitment platform, called Digger. “Digger is a digital recruitment, talent management and staff retention... 

Mining-specific staff recruitment,  management app developed
Innovative mining-specific staff recruitment, management app developed. Editing: Darlene Creamer and Christo Greyling.

Global metals exploration likely to rise 20% in 2018 – S&P Global

By: Henry Lazenby     5th March 2018 Global mining exploration budgets are expected to swell about 20% in 2018, bolstered by the generally positive trend in metals prices extending into early 2018, a new report by S&P Global Market Intelligence has found. Global spending on the search for nonferrous metals rose 15% year-on-year in... 

Global metals exploration likely to rise 20% in 2018 – S&P Global

Bass Oil flags major prospectivity boost at onshore Indonesian oil producing property

By: Simone Liedtke     5th March 2018 ASX-listed Australia Bass Oil on Monday announced a major upgrade to the prospectivity of the company's producing Tangai-Sukananti KSO, located in onshore Sumatra, Indonesia. Highlights of the upgrade, resulting from an independent review of the company's stake in the KSO located in the prolific... 

Bass Oil flags major prospectivity boost at onshore Indonesian oil producing property
Bass Oil's Tino Guglielmo

PNG LNG to remain closed for eight weeks following earthquake

By: Simone Liedtke     5th March 2018 The Papua New Guinea (PNG) LNG facility, which is part owned by ASX-listed Santos, is expected to remain closed for about eight weeks following a February 26 earthquake. Santos, which has a 13.5% interest in PNG LNG, noted on Monday that it has been advised by the PNG LNG operator that, following... 

ACCC proposes joint gas marketing in Northern Territory

By: Megan van Wyngaardt     2nd March 2018 The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to authorise joint gas marketing arrangements between joint venture partners ASX-listed Central Petroleum and Macquarie Mereenie for their Mereenie oil- and gasfield, located in the Amadeus... 

Canadian petroleum producers outline four-point plan to combat ailing investor confidence

By: Henry Lazenby     1st March 2018 Rising government costs, the burden of inefficient regulations, and the lack of infrastructure to move Canadian energy to growing markets are undermining investor confidence in Canada, a new report by the Canadian Association of Petroleum Producers (CAPP) has found. Published earlier this week,... 

M&R’s oil and gas unit turns to ‘complementary markets’ amid project slowdown

By: Terence Creamer     1st March 2018 The oil and gas unit of engineering and construction group Murray & Roberts (M&R) is actively pursuing projects in “complementary markets”, owing to a slowdown in new project activity in the Australasian oil and gas sector. The value of M&R’s oil and gas order book has fallen to below R4-billion,... 

M&R’s oil and gas unit turns to ‘complementary markets’ amid project slowdown
M&R CEO Henry Laas

Exxon to quit Russian oil ventures frozen by US sanctions

By: Bloomberg     1st March 2018 Exxon Mobil said it’s abandoning joint ventures with Russia’s Rosneft PJSC after international sanctions against the nation’s energy sector paralysed a historic drilling project. Exxon’s decision to quit its biggest exploration region was made late last year as the US expanded sanctions, the... 

Po Valley retains Italy assets following mutual termination of Saffron deal

By: Mariaan Webb     1st March 2018 Australia-based gas producer Po Valley on Thursday announced that it would retain its northern Italy gas assets, after a deal with UK firm Saffron Energy about the sale of Po Valley Operation (PVO) was terminated. The transaction formed part of a broader three-way commercial deal to create a... 

India, Venezuela to deepen hydrocarbon sector collaboration during Maduro’s New Delhi visit

By: Ajoy K Das     28th February 2018 India and Venezuela will push for deeper engagement and joint ventures (JV) in the hydrocarbon sector during Venezuelan President Nicolas Maduro’s visit to New Delhi next month. Despite US sanctions against the Latin American nation, New Delhi is expected to follow its “own balanced and pragmatic... 

ONGC blames policies for Krishna-Godavari delay

By: Ajoy K Das     27th February 2018 India’s national exploration and production (E&P) major, ONGC has said that it would miss the June 2019 deadline to start production from its deep-water Krishna-Godavari (KG) oil and gas block on the east coast. In a regulatory filing, ONGC cited changes in government policy as the reason for... 

Santos launches $750m Queensland gas project

By: Megan van Wyngaardt     27th February 2018 Domestic gas supply and regional jobs in Queensland are set to gain considerably with Santos GLNG investing $900-million in upstream gas developments in Maranoa, Western Downs, Central Highlands and Banana this year. As well as upstream developments around the Fairview, Scotia and Arcadia... 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Resounding welcome for Gwede, who declines opportunity to comment
Photo by Duane Daws
Incoming Mineral Resources Minister Gwede Mantashe

Miners report some infrastructure damage after Papua quake

By: Reuters     27th February 2018 Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake on the weekend, as projects in the resource-rich region assess the impact on their operations. Barrick Gold said a power station that supplies its Porgera gold mine had been... 

Sasol expects to realise $1bn from noncore asset disposals 

By: Terence Creamer     26th February 2018 Chemicals and energy group Sasol expects to realise more than $1-billion from the disposal of noncore assets in the coming few years. However, besides its Canadian shale-gas assets, which have been formally put up for sale, the group is yet to announce which other assets will be sold. Speaking at... 

Sasol expects to realise $1bn from noncore asset disposals
Sasol joint CEO Stephen Cornell on the group's noncore asset disposal plan. Camera Work & Editing: Nicholas Boyd. Recorded: 26.2.2018

Exxon, BHP axe lengthy sale of 50-year-old Australia oil fields

By: Bloomberg     23rd February 2018 Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. Exxon Mobil and BHP Billiton will retain ownership and operation of fields, licenses and associated infrastructure held in the Gippsland Basin... 

Alberta govt accepts olive branch as BC seeks reference case on rights over oil exports 

By: Henry Lazenby     23rd February 2018 The political impasse over the much-needed expansion of crude oil export capacity from Alberta through Canada's West Coast seems to have been temporarily resolved. Alberta, which is host to the bulk of Canada's significant oil reserves, on Thursday said it would suspend a ban on the sale of... 

Finland takes top spot for mining-friendly investment 

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Finland takes top spot for mining-friendly investment

New directive will affect mining vessels off the shore of Namibia

By: Victor Moolman     23rd February 2018 In 2020, the International Maritime Organisation will implement a low sulphur fuel directive (LSFD) that will impact on the availability of fuel for ships and mining vessels off the coasts of African countries, including Namibia. The LSFD will require ships to use low sulphur fuel oil (LSFO),... 

New directive will  affect mining vessels  off the shore of Namibia
BALANCING ACT The adoption of low-sulphur fuel in much of Africa is a delicate balance between cost, responsibility and profitability

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in SA

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring worldwide for new opportunities and countries scrutinised for their investment attractiveness and monitored in terms of economic growth, currently, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining... 

Nigerian mining’s GDP contribution seen increasing  sixfold to 3%, cautious optimism takes hold in SA

Burkina Faso seeks new partner for $1bn manganese project

By: Bloomberg     22nd February 2018 Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in... 

Pipeline delays 'impose demonstrable, substantial economic costs on the Canadian economy' – Scotiabank

By: Henry Lazenby     22nd February 2018 The price received for Western Canadian oil will remain vulnerable to service disruptions in current transportation channels, given the excess of production over takeaway capacity up to about 2020, a new report by the Bank of Nova Scotia (Scotiabank) has found. In a report published on Tuesday,... 

Pipeline delays 'impose demonstrable, substantial economic costs on the Canadian economy' – Scotiabank

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa

By: Martin Creamer     21st February 2018 Diversified mining and marketing company Glencore shot the lights out with a superlative set of 2017 results that coincided with a leap in its share price in Johannesburg, the reaffirmation of South Africa as an even more positive investment destination, and the mulling of a dividend "top up"... 

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa
Photo by Duane Daws
Flashback to Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

BC extends provincial flow-through tax credit for a year; resumes fight against Canadian oil

By: Henry Lazenby     21st February 2018 The British Columbia provincial government has released its Budget 2018 plan, confirming that the provincial flow-through exploration tax incentive will be extended for another year until the end of this year. The mining flow-through share programme is seen as critical to reinforcing the... 

BC extends provincial flow-through tax credit for a year; resumes fight against Canadian oil

Congo seeks relief talks with oil traders over $2bn debt

By: Reuters     20th February 2018 Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend... 

BHP to open data rooms for US shale fields, deals may be announced before year-end

By: Mariaan Webb     20th February 2018 Mining giant BHP will open the data rooms for its onshore US assets next month, the group said on Tuesday, as it confirmed that deals may be announced before the end of this year. Under pressure from activist investors, including Elliott Management, to get out of the shale business that it... 

BHP to open data rooms for US shale fields, deals may be announced before year-end
BHP has opened the data room for the Fayetteville field (pictured).

Novatek says wins auction for Alrosa's gas assets

By: Reuters     19th February 2018 Novatek, Russia's largest non-State gas producer, said on Monday it had won an auction for Alrosa's two gas assets with a bid of 30.3-billion roubles. Novatek has been actively buying upstream assets in an effort to boost sluggish natural gas output. 

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      19th February 2018 Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

BHP Billiton expects drilling of first new Trion well to begin in October

By: Reuters     16th February 2018 Drilling of the first new exploration well in BHP Billiton's deepwater Trion project will begin in October, part of a plan approved by Mexican regulators on Thursday that also revised downward the project's estimated oil and gas resources. Australian mining and oil giant BHP Billiton won the... 

Canada's oil sands output to grow despite record-low investment, export bottlenecks

By: Henry Lazenby     16th February 2018 Canada's oil sands output is expected to continue on its upwards trajectory despite investment in the sector lagging behind historical levels, a recent report has found. Oil sands production in Canada's oil patch of Alberta is expected to grow through the next decade, albeit at a slower rate than... 

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