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Oil and Gas News

Ghana to review corporate tax exemptions for resources sector

By: Reuters     5th April 2018 Ghana plans to review its process for granting corporate tax exemptions to mining and oil companies as part of measures to eliminate fraud and boost revenues, its vice president said on Wednesday. Mahamudu Bawumia said tax exemptions claimed by some resources companies were not transparent, and... 

CAPP urges feds to ensure Canadian oil, gas benefit from growing global energy demand

By: Henry Lazenby     4th April 2018 Despite surging demand globally for all forms of energy, Canada’s oil and natural gas industry is at risk as the cumulative effect of federal and provincial policies and regulations are fast thinning the country’s market opportunity by thwarting industry growth, competitiveness and market access,... 

CAPP urges feds to ensure Canadian oil, gas benefit from growing global energy demand

Santos shares jump on A$13.5bn bid from Harbour Energy

By: Esmarie Iannucci     3rd April 2018 Energy investor Harbour Energy has made a A$13.5-billion offer for oil and gas major Santos, offering shareholders $4.98 a share, or A$6.50 equivalent. Harbour has previously made three unsolicited offers for Santos, the last of which was priced at A$6.37 a share. 

Santos shares jump on A$13.5bn bid from Harbour Energy

Oil Search restarts PNG operations

By: Esmarie Iannucci     3rd April 2018 ASX-listed Oil Search has restarted production at its Central Processing Facility (CPF) in Papua New Guinea, following a 7.5 magnitude earthquake in February. Oil Search said on Tuesday that production has started from a number of Kutubu oil field wells, at an initial rate of around 4 000... 

Senex granted approvals for project to supply gas-strapped east coast

By: Esmarie Iannucci     29th March 2018 The Queensland government has granted ASX-listed Senex Energy a petroleum lease and preliminary environmental approvals to develop Project Atlas, to supply gas to the domestic market. Natural Resources, Mines and Energy Minister Dr Anthony Lynham said the grant of Senex’s petroleum lease in the... 

Senex granted approvals for project to supply gas-strapped east coast

Mereenie partners given marketing approval

By: Esmarie Iannucci     29th March 2018 The Australian Competition and Consumer Commission (ACCC) has given ASX-listed Central Petroleum and fellow listed Macquarie Mereenie approval to jointly market gas from the Northern Territory. The two companies have been authorized to market gas produced from the Mereenie field for a period of... 

India extends last date of auction bids for oil and gas fields

By: Ajoy K Das     28th March 2018 Expecting greater response from international oil and gas exploration and production (E&P) majors, the Indian government has extended by a month the last date for submission of bids for 55 oil and gas blocks under the newly framed Open Acreage Licensing Policy (OALP). Government officials said... 

NT fracking inquiry finds risks can be reduced to ‘acceptable level’

By: Esmarie Iannucci     28th March 2018 An independent scientific inquiry into hydraulic fracturing (fracking) in the Northern Territory has found that any risks associated with the practice could be mitigated. Inquiry chairperson Justice Rachel Pepper said this report provided recommendations to mitigate to acceptable levels the... 

No major change in Mexico oil output expected before 2025 – official

By: Reuters     28th March 2018 Mexico's government does not expect a 'significant' change in oil production before 2025, deputy energy minister Aldo Flores said on Tuesday. Mexico, which produces around 1.9-million barrels per day of crude, has been pushing back the date by when it expects to reverse a slide in output. Crude... 

Antero Resources eyes ways to cut sand costs for fracking

By: Reuters     27th March 2018 US natural gas producer Antero Resources Corp said on Monday it is eyeing options to mine its own sand for fracking to offset recent price increases. The company, which produces in the Marcellus and Utica shale formations, has seen its sand cost rise markedly in the past year, Glen Warren,... 

Congo's 2017 mining revenue up 36% while oil revenue doubles

By: Reuters     26th March 2018 Democratic Republic of Congo's 2017 mining sector revenue rose 35.6% to $822.2-million while revenue from the oil and gas sector jumped by 103% to $203.9-million, finance ministry data showed. Mining revenue in the fourth quarter more than doubled helped by higher prices for key exports such as... 

Women at Glencore oil trading unit earn 28% less than men

By: Bloomberg     23rd March 2018 Women working in oil trading at Glencore earn 28% less pay on average than men and receive bonuses that were 57% lower. The income disparity, disclosed by the second-biggest independent oil trader under UK government-mandated pay gap reporting, underscores the lack of women in senior roles at... 

BC govt unveils tax incentives to induce Kitimat LNG development

By: Henry Lazenby     22nd March 2018 The British Columbia minority government on Thursday unveiled several measures to entice natural gas development in Kitimat, where LNG Canada is working towards a development decision on a new C$40-billion terminal that will process and ship liquefied natural gas (LNG) to Asian markets.... 

BC govt unveils tax incentives to induce Kitimat LNG development

US LNG firms lament bad timing of steel tariffs and China trade spat

By: Reuters     22nd March 2018 The Trump administration's planned steel tariffs and a potential trade battle with China could hurt US liquefied natural gas companies just as a new wave of developments in the fast-growing market is gaining steam, company executives say. China is the fastest growing major buyer of LNG, making... 

US LNG firms lament bad timing of steel tariffs and China trade spat

Australis raises cash for US drilling

By: Esmarie Iannucci     22nd March 2018 ASX-listed Australis Oil & gas will raise A$39-million through a share placement to start drilling at its Tuscaloosa Marine Shale (TMS) project, in the US. The company on Thursday said that it had received commitments from institutional and sophisticated investors for the placement of... 

Nopsema approves Barossa-Caldita plans

By: Esmarie Iannucci     21st March 2018 The Barossa-Caldita offshore project has taken a major step forward with Australia’s offshore petroleum regulator approving the project proposal. Oil and gas major Santos on Wednesday reported that the National Offshore Petroleum Safety and Environment Management Authority (Nopsema) had assess... 

US bans transactions with Venezuela's digital currency – White House

By: Reuters     19th March 2018 US President Donald Trump on Monday signed an executive order barring any US-based financial transactions involving Venezuela's new petro cryptocurrency, as US officials warned that it was a "scam" by President Nicolas Maduro's government to further undermine democracy in the OPEC country. "The... 

Erin Energy widens loss despite higher oil price lifting revenue

By: Simone Liedtke     16th March 2018 Oil and gas exploration and production company Erin Energy has widened its net loss to $151.9-million, or $0.71 a share, in 2017, from $142.4-million, or $0.67 a share in 2016. The loss comes despite a 30% increase in revenue to $101.2-million and lower exploration and production expenses. The... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Sundance Energy unveils $221m Eagle Ford buy

By: Esmarie Iannucci     15th March 2018 ASX-listed Sundance Energy has reported a $221.5-million acquisition and a $260-million capital raise. The company on Thursday announced the acquisition of 21 900 acres and 1 800 bbl/d of oil equivalent in the Eagle Ford Shale, on trend with the company’s existing core McMullen, Atacosa, LaSalle... 

Sundance Energy unveils $221m Eagle Ford buy

McGowan announces LNG jobs taskforce

By: Esmarie Iannucci     14th March 2018 The Western Australian state government has established a dedicated taskforce focused on the liquefied natural gas (LNG) sector. Premier Mark McGowan on Wednesday used the Australasian Oil and Gas expo, in Perth, to announce the establishment of the jobs taskforce, which will be focused on... 

McGowan announces LNG jobs taskforce

South Africa to become eighth country to export helium by 2019 – Renergen

By: Marleny Arnoldi     12th March 2018 Alternative and renewable energy investment firm Renergen expects to become a significant global producer of helium when its Virginia project starts production in 2019.  

South Africa to become eighth country to export helium by 2019 – Renergen
Tetra4 plant in the Free State

Alrosa uses gas sale proceeds to repay loans

By: Creamer Media Reporter      12th March 2018 Diamond miner Alrosa has used the proceeds of the cash sale of its gas assets to repay $450-million in bank loans. The company announced on Monday that it had repaid a $250-million loan from Rosbank and a $200-million portion of its existing Raiffeisenbank loan, reducing its debt by more than 27%... 

Australia’s offshore exploration activity at 14-year low

By: Esmarie Iannucci     12th March 2018 The Australian Petroleum Production and Exploration Association (Appea) has warned that the stalled oil and gas exploration in Australia could prove an economic risk. Using the latest data by the Australian Bureau of Statistics (ABS), which indicated that the slump in petroleum exploration in... 

Australia’s offshore exploration activity at 14-year low

Mereenie JV partners move ahead with NT gas project

By: Esmarie Iannucci     12th March 2018 The Mereenie joint venture (JV) partners will proceed with the development of the gas project, in the Northern Territory, after the Australian Competition and Consumer Commission (ACCC) granted interim approval for joint marketing arrangements. The ACCC authorisation allows developers Central... 

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... 

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

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,... 

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