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Oil and Gas News

Wasow to retire as Santos CFO

By: Esmarie Swanepoel     3rd August 2010 ASX-listed Santos reported on Tuesday that executive vice president and CFO Peter Wasow would be retiring at the end of 2010. Wasow has been in the position since 2002, and would remain in his role until the end of the year, or until a successor is appointed to enable an orderly transition of... 

Bow Energy and LNG explore opportunities

By: Esmarie Swanepoel     2nd August 2010 Oil and gas explorer Bow Energy on Monday confirmed that it was in negotiations with fellow-listed Liquefied Natural Gas (LNG) with respect to that company’s Fisherman’s Landing LNG project, in Gladstone. LNG said in a statement that the company was exploring gas supply and strategic partner... 

Monitor Energy agrees $120m Trinidad oil deal

By: Esmarie Swanepoel     29th July 2010 Australian oil and gas company Monitor Energy has entered into an agreement valued at around $120-million to buy up to a 90% stake in three production licences in producing onshore oilfields in Trinidad. Monitor will use a combination of scrip and cash to buy the stake in SOCA Petroleum, the... 

Sherritt profit falls on foreign exchange, tax provision

By: Liezel Hill     28th July 2010 Toronto-based nickel and energy firm Sherritt International earned C$15,7-million in the second quarter, 36% lower than in the same period a year earlier, the firm reported on Wednesday. However, the net income figure includes an unrealised after-tax foreign exchange loss of C$18,1-million and a... 

Wheatstone LNG project enviro report released for comment

By: Esmarie Swanepoel     26th July 2010 The Australian unit of oil major Chevron has released the environmental review and management programme (ERMP) of its Wheatstone liquefied natural gas (LNG) project, in the Pilbara, for public comment. The draft ERMP would be available for ten days which after, the Western Australian... 

Uranium supply key for top energy user China

By: Matthew Hill     23rd July 2010 In Kurt Vonegut’s 1976 novel 'Slapstick, Or Lonesome No More', he talks about a future Chinese government that physically shrinks the population to reduce resources demand. But such a mass miniaturisation remains in the realms of fiction, and China’s insatiable appetite continues to grow.  

Woodside reports 9% drop in Q2 production

By: Esmarie Swanepoel     23rd July 2010 ASX-listed oil and gas producer Woodside on Friday reported that production volumes for the quarter ended June were down by 9% compared with the previous quarter. This was largely as a result of scheduled maintenance shutdowns on the North West Shelf trains three and four, the sale of the Otway... 

Natural gas company Dart Energy starts trading on ASX

By: Esmarie Swanepoel     22nd July 2010 The spin-off company of Arrow Energy – Dart Energy – on Thursday successfully listed on the ASX, and completed a A$35-million capital raising. Dart had more than 367,2-million shares trading on the ASX, at A$0,74 a share, valuing the company at around A$275-million. 

Canada's oil sands need 'cleaning up' to be sustainable – opposition leader

By: Matthew Hill     20th July 2010 Canadian Liberal Party leader Michael Ignatieff said on Saturday that the Alberta oil sands “have to be cleaned up”. Ignatieff, who has been on a national bus campaign in an attempt to boost support, said that the ruling Conservative government had not done enough to ensure the industry’s... 

Santos arranges A$2bn debt to help fund growth

By: Esmarie Swanepoel     19th July 2010 Oil and gas explorer Santos has executed a A$2-billion bilateral bank loan facility, which it would use to fund growth, including a liquid natural gas (LNG) project in Queensland. ASX-listed Santos would use the A$2-billion loan to refinance its existing A$700-million bilateral bank loan... 

Mosaic Oil board ‘unanimously’ recommends AGL deal

By: Esmarie Swanepoel     14th July 2010 ASX-listed oil companies Mosaic Oil and AGL Energy have entered into a scheme implementation deed, under which AGL would acquire all of the issued share capital of Mosaic, after the Mosaic board unanimously recommended the takeover. Under the proposed acquisition, Mosaic shareholders would... 

ACCC approves joint marketing of North West Shelf gas

By: Esmarie Swanepoel     8th July 2010 The Australian Competitions and Consumer Commission (ACCC) on Thursday approved the joint marketing of gas from the North West Shelf project to Western Australian consumers. The North West Shelf project partners include: BHP Billiton Petroleum, BP Developments Australia, Chevron Australia, Shell... 

Globe Securities to buy Mako Energy JV partner Harness

By: Esmarie Swanepoel     7th July 2010 ASX-listed Globe Securities would buy Harness Petroleum, once it concluded the Mako Energy acquisition, it reported on Wednesday. In March, Globe announced that it would acquire Mako for $7-million, under an option agreement.  

EPA approves BHP Billiton subsea gas pipeline

By: Esmarie Swanepoel     7th July 2010 Diversified miner BHP Billiton has been given the nod by the Western Australian environmental protection authority (EPA) for the development of a subsea pipeline from the Macedon gas field to an onshore gas treatment and compression plant. EPA chairperson Paul Vogel said that it is unlikely that... 

Beach Energy and Itochu team up to develop LNG project

By: Esmarie Swanepoel     6th July 2010 ASX-listed oil and gas explorer Beach Energy has entered into a memorandum of understanding with Japan’s Itochu Corporation to investigate the potential for a joint development project. Beach said on Tuesday that the companies would be looking at a business arrangement, in which Beach would... 

AGL Energy bids for Mosaic Oil

By: Esmarie Swanepoel     1st July 2010 ASX-listed natural gas company AGL Energy has made an offer to acquire fellow listed Mosaic Oil, it announced on Thursday. AGL was offering either a cash option of A$0,15 a share, or 1,01 of its own shares for every 100 Mosaic shares held. 

Mediator orders striking Woodside employees to return to work

By: Esmarie Swanepoel     1st July 2010 Workplace mediator Fair Work Australia has ordered the suspension of a protected strike at liquid natural gas (LNG) producer Woodside Petroleum’s Pluto project, in Western Australia. The protected industrial action started in April, as crane drivers and telescopic forklift operators supported... 

Liberty seeks JV partners for Queensland gas project

By: Esmarie Swanepoel     29th June 2010 Underground coal gasification (UGC) company Liberty Resources has completed a scoping study for its Denison gas project, in Queensland, and was now looking for suitable joint-venture (JV) parties to develop the project. The scoping study was based on 19 783 PJ of recoverable syngas, produced at... 

Oil and gas company Hawkley relists on ASX

By: Esmarie Swanepoel     29th June 2010 Central and eastern Europe-focused Hawkley Oil & Gas on Tuesday started trading on the ASX, following the completion of a reverse takeover of the former biotechnology company Incitive, and a successful A$5,5-million capital raising. Hawkley shares were trading at around A$0,19 on Tuesday. 

What will Gulf of Mexico spill mean for Canada's oil sands? 

By: Liezel Hill     25th June 2010 From finger-pointing at the Copenhagen climate summit to a flurry of new project approvals, 2010 started with a bang for the Canadian oil sands industry. Fast forward six months later, and the question on the lips of investors and pundits alike is: What implications will the BP oil spill in the... 

What will Gulf of Mexico spill mean for Canada’s oil sands? 

By: Liezel Hill     25th June 2010 From finger-pointing at the Copenhagen climate summit to a flurry of new project approvals, 2010 started with a bang for the Canadian oil sands industry.  

Beach Energy to explore for oil in Tanzania

By: Esmarie Swanepoel     24th June 2010 The wholly owned subsidiary of ASX-listed Beach Energy, Beach Petroleum, has executed a production-sharing agreement with the Tanzanian government. Under the agreement, Beach would explore the Great Rift Valley, in western Tanzania for oil.  

Strike may delay Pluto LNG project construction – Woodside

By: Esmarie Swanepoel     23rd June 2010 Australian liquid natural gas (LNG) producer Woodside Petroleum would appeal to Fair Works Australia, the national workplace relations tribunal, to suspend the protected industrial action currently taking place at its Pluto project, in Western Australia. The protected industrial action started... 

Amadeus receives offers for US oil/gas assets

By: Esmarie Swanepoel     17th June 2010 ASX-listed oil and gas producer Amadeus Energy has received unsolicited approaches from US companies wishing to acquire the company’s assets, it said on Thursday. Amadeus has now appointed financial services provider Macquarie Capital to review all the options available to “unlock” the value of... 

Shell awarded shale gas permit, Sasol, Anglo still in queue

By: Martin Creamer     15th June 2010 South Africa's exploration regulator Petroleum Agency SA has issued shale gas permits to Shell International and oil and gas company Falcon, with Sasol and Anglo American still in the queue. Petroleum Agency SA - headed by CEO Mthozami Xiphu and entirely separate from PetroSA - is designated by... 

Hydropower ousts coal as fastest growing fuel source

By: Matthew Hill     9th June 2010 Last year was the first time since 2002 that coal was not the fastest growing fuel in the world, oil giant BP said on Wednesday. Hydropower took its place, after OECD demand for coal dropped by 10,4% in 2009 – the steepest decline on record, according to the BP Statistical Review of World Energy. 

Eneabba-Cougar JV studies underground coal gasification project

By: Esmarie Swanepoel     9th June 2010 Australian energy company Eneabba Gas has signed a binding joint-venture (JV) agreement with underground coal gasification (UCG) company Cougar Energy to develop the Sargon coal tenements, in Western Australia, to produce a low-cost and environmentally friendly fuel source. Eneabba said in a... 

Australia's Karoon Gas may list South American assets in Brazil

By: Esmarie Swanepoel     8th June 2010 ASX-listed oil and gas explorer Karoon Gas Australia was assessing the possibility of separately listing its Brazilian and Peruvian assets to establish a comparable value with other South American oil explorers. Karoon said on Tuesday that the assessment came about as a result of a recent... 

Global Iron raises A$230m to explore for oil and gas

By: Esmarie Swanepoel     28th May 2010 Iron-ore explorer Global Iron has taken a further step to changing its company focus by raising up to A$230-million through a share placement, to explore two prospective oil and gas exploration blocks. The company reported on Friday that it would issue up to 418-million shares, at A$0,55 a share... 

GE clinches $2-million compressor deal

By: Loni Prinsloo     5th March 2010 Oil and gas technology equipment and services company GE Oil & Gas, will supply two new compressors for platinum-miner Impala Platinum’s (Implats) sulphuric acid plant in Rustenburg, South Africa. 

Minotaur enters into another JV with Japan’s Jogmec

By: Esmarie Swanepoel     19th February 2010 Australian mineral explorer Minotaur has signed a A$4-million joint-venture (JV) agreement with the Japan Oil, Gas and Metals National Corporation (Jogmec) to explore for copper/gold in the Cloncurry district of north Queensland. Minotaur, through its subsidiary Minotaur Operations, would now... 

Platinum Australia says $3,5m Japan deal to fund SA projects

By: Chanel de Bruyn     8th January 2010 The $3,5-million exploration funding agreement between Aim- and ASX-listed Platinum Australia and the Japan Oil, Gas and Metals National Corporation (JOGMEC), would provide the necessary funding to complete the platinum company’s planned exploration programme over the next four years, MD John... 

Japanese firm enters into third SA platinum venture

By: Chanel de Bruyn     6th January 2010 The Japan Oil, Gas and Metals National Corporation (JOGMEC) has entered into its third joint venture (JV) to explore for platinum in South Africa. The Japanese corporation announced in a statement on Wednesday that it had entered into a deal with ASX- and Aim-listed Platinum Australia, in terms... 

Sherritt 'confident' on Ambatovy project schedule

By: Liezel Hill     28th October 2009 Toronto-based Sherritt International does not have any concerns at this point with meeting the scheduled timeline for its Ambatovy nickel project, in Madagascar, CFO Dean Chambers said on Wednesday. The project is scheduled for mechanical completion by year-end 2010. 

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