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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,... →
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. →
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... →
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.... →
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... →
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... →
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... →
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... →
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. →
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... →
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... →
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 →
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.... →
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,... →
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... →
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... →
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... →
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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