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Sales and production soar at Woodside

By: Esmarie Iannucci     18th October 2018 Australia’s Woodside Petroleum has seen an increase in both production and sales revenues for the third quarter, as its Wheatstone liquefied natural gas (LNG) project continued to contribute strongly to operations. “Production at Wheatstone LNG continued ahead of plan, underpinning a 13.8% rise... 

Shell LNG, trade deal no help to stalled Trans Mountain pipeline

By: Bloomberg     4th October 2018 Royal Dutch Shell’s commitment to invest in the largest private-sector project in Canada’s history and a new trade deal with the US and Mexico show the country is open for business again. But neither are likely to help Trans Mountain, the troubled oil pipeline project that has epitomized the... 

Trudeau backs LNG Canada against threat of steel duties

By: Bloomberg     3rd October 2018 Prime Minister Justin Trudeau assured Royal Dutch Shell’s newly sanctioned $31-billion liquefied natural gas project that it won’t be hindered by trade barriers such as steel import duties. “Trade barriers won’t be an impediment to moving forward on this project," Trudeau told a news conference... 

Australia resources exports heading for record; country takes lithium crown

By: Esmarie Iannucci     2nd October 2018 Australia’s resources and energy exports are forecast to hit a record high of A$252-billion in 2018/19, helped along by a decline in the Australian dollar over the past quarter. In its newest Resources and Energy Quarterly, the Office of the Chief Economist notes that the new outlook had been... 

Santos aims to double production by 2025

By: Creamer Media Reporter      26th September 2018 Australian oil and gas major Santos on Wednesday outlined its plans to grow production to more than 100-million barrels of oil equivalent (mmboe) by 2025, almost doubling current levels of production. MD and CEO Kevin Gallagher said the successful delivery of the ‘transform-build-grow’ strategy... 

Further Australian LNG projects needed to keep prices in check

By: Esmarie Iannucci     12th September 2018 New Australian liquefied natural gas (LNG) supplies will have to come on line by 2028 in order to forestall a shortage, advisory firm Wood Mackenzie (WoodMac) has forecast. “The Queensland LNG export projects have shattered the east coast’s ‘cheap gas forever’ mentality,” WoodMac director for... 

Northern Territory’s 5-point plan to build a gas industry

By: Esmarie Iannucci     6th September 2018 The Northern Territory government has revealed a five-point gas strategy to drive its vision of creating a world-class hub for gas production, manufacturing and services, by 2030. The strategy will be aimed at getting more liquefied natural gas (LNG) in Darwin, and expand the Darwin LNG export... 

Santos half-year profit doubles

By: Esmarie Iannucci     23rd August 2018 Oil and gas major Santos has doubled its interim underlying profit in the six months to June, as revenues surged. Underlying profit for the interim period was reported at $217-million, compared with the $109-million in the previous corresponding period, while earnings before interest, tax,... 

Study initiated to assess conversion of Kelvin power station from coal to gas

By: Terence Creamer     21st August 2018 A $1.3-million feasibility study has been initiated into the prospect of converting the coal-fired Kelvin power station, east of Johannesburg, into a 450 MW to 600 MW gas-fired power station. The study will also assess the potential for developing the Kelvin site into a gas distribution hub for... 

BP signs up for PNG LNG

By: Esmarie Iannucci     17th August 2018 The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial... 

Origin swings to profit

By: Esmarie Iannucci     16th August 2018 Energy major Origin Energy has swung into profit for the financial year ended June, following a full year of operations from both the liquefied natural gas (LNG) trains at its Australia Pacific LNG operation, as well as higher commodity prices. Statutory profit for the full year to June was... 

Woodside posts A$541m half-year profit

By: Esmarie Iannucci     15th August 2018 Oil and gas producer Woodside has reported an interim net profit after tax of A$541-million for the six months to June, with operating cash flows for the period up by 25% on the first half of 2017. Woodside said on Wednesday that the increased operating cash flows was driven by higher production... 

Lithium and copper tipped as major Australian export drivers

By: Esmarie Iannucci     13th August 2018 The Reserve Bank of Australia (RBA) has tipped lithium and copper to be the major drivers for commodity exports in Australia, in the next few years. In its August Statement on Monetary Policy, the RBA noted that mineral exploration and mining activity for commodities used in the rechargeable... 

Santos taps possible PNG LNG source

By: Esmarie Iannucci     8th August 2018 Australian oil and gas major Santos on Wednesday reported that drilling at its Barikewa-3 well, in Papua New Guinea (PNG), has confirmed that there was significant natural gas resource close to the PNG liquefied natural gas (LNG) project infrastructure, which could still be developed. The well... 

Gas industry pushes for further easing of restrictions to boost supply

By: Esmarie Iannucci     2nd August 2018 The resources industry has called for a further easing of restrictions on the gas industry to ensure the development of more supply, according to the Australian Competition and Consumer Commission’s (ACCC’s) latest Gas Market Inquiry report. The ACCC said on Thursday that while conditions on the... 

Resources continue to drive Australian exports

By: Esmarie Iannucci     2nd August 2018 New data from the Australian Bureau of Statistics (ABS) has shown that the resources sector is still driving the economy. The ABS on Thursday reported that Australia’s exports of goods and services surpassed A$400-billion for the first time in 2017/18, owing mainly to growth in resources... 

APLNG supports Origin earnings

By: Esmarie Iannucci     31st July 2018 The Australia Pacific liquefied natural gas (APLGN) project has driven production and revenues for ASX-listed Origin Energy during the three months to June. “APLNG continues to perform well and is making an increasingly important contribution to Origin,” CEO Frank Calabria said on Tuesday. 

Europe to become 'massive' buyer of US LNG, Trump says

By: Bloomberg     25th July 2018 Europe will build more terminals to import US liquefied natural gas, the head of the European Commission told US President Donald Trump during a meeting aimed at averting a transatlantic trade war. “They want very much to do that, and we have plenty of it,” Trump said, referring to the US shale... 

PNG LNG signs mid-term offtake

By: Esmarie Iannucci     20th July 2018 The Papua New Guinea liquefied natural gas (PNGG LNG) project partners have entered into a mid-term LNG sale and purchase agreement with Hong Kong-based PetroChina International Corporation. Under the agreement, the PNG LNG project will supply some 0.45-million tonnes of LNG a year over a... 

Woodside production on the up

By: Esmarie Iannucci     19th July 2018 ASX-listed Woodside Petroleum has reported increased production with the start of the second liquefied natural gas (LNG) train from the Chevron-operated Wheatstone operation. Production during the three months to June reached 22-million barrels of oil equivalent, up from the 20.7-million barrels... 

Higher prices drive Santos revenue

By: Esmarie Iannucci     19th July 2018 Oil and gas major Santos has reported a 16% increase in sales revenue for the first half of 2018, compared with the previous corresponding period, on the back of stronger commodity prices and higher oil sales. Santos on Thursday reported that production during the first half of the year declined... 

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

By: Esmarie Iannucci     27th June 2018 A new report by the International Energy Agency (IEA) has shown that global gas demand will grow at an average rate of 1.6% a year, reaching just more than 4.1-trillion cubic metres in 2023. This forecast compares with demand of 3.74-tillion cubic metres in 2017, the IEA noted in its ‘Gas 2018’... 

AEMO sees no gas supply gaps to 2030

By: Esmarie Iannucci     22nd June 2018 The latest Gas Statement of Opportunities (GSOO) by the Australian Energy Market Operator (AEMO) has found that market intervention, new supply and lower demand have avoided a potential energy shortfall. The AEMO in late 2017, warned of a substantial shortfall in gas for the east coast of... 

Second LNG train at Wheatstone starts up

By: Esmarie Iannucci     15th June 2018 Liquefied natural gas (LNG) production from the second train at the Wheatstone project, near Onslow in Western Australia, has started. US major Chevron said on Friday that the Wheatstone project is expected to produce 8.9-million tonnes a year of LNG over an estimated 30-year mine life, adding... 

Coal royalties give Queensland Budget surplus a boost

By: Esmarie Iannucci     12th June 2018 A record contribution from coal royalties has assisted the Queensland government in delivering a surplus of A$1.5-billion for the 2017/18 financial year – three times more than what was predicted in the mid-year fiscal and economic review forecast in December. “The Queensland economy continues... 

GLNG ships milestone cargo

7th June 2018 The Gladstone liquefied natural gas (GLNG) project has shipped its 200th LNG cargo from Curtis Island to Korea. “For the next two decades, the International Energy Agency expects natural gas to grow more than any other energy type, to a market share of more than a quarter of all global energy... 

Resources, oil & gas sectors drive Australian GDP growth in Q1

By: Esmarie Iannucci     7th June 2018 The resources and oil and gas sectors have continued to drive the Australian economy during the March quarter, with the Australian Bureau of Statistics (ABS) revealing that the sectors were the main drivers to a 1% increase in Australia’s gross domestic product (GDP) during the period. The... 

AIE selects Port Kembla for A$300m LNG import terminal

By: Esmarie Iannucci     5th June 2018 The Australian Industrial Energy (AIE) consortium has selected Port Kembla, in New South Wales, as the site for the first A$300-million liquefied natural gas (LNG) import terminal. The proposed terminal will have the ability to supply more than 100 PJ/y of LNG, sufficient to meet over 70% of... 

Oil and gas industry contributing greatly to economy - Appea

By: Esmarie Iannucci     1st June 2018 Australia’s oil and gas industry contributed some A$27-billion to the country’s economy in 2016/17, new data from the Australian Petroleum Production & Exploration Association (Appea) reported this week. “The economic footprint of the oil and gas industry goes far beyond its production wells and... 

MInteg invest in rope access training centre

31st May 2018 Improved IRATA Status Extends Working at Height Expertise Maintenance, inspection and integrity specialist, MInteg, have opened a purpose-built rope access training centre at parent company EnerMech’s Aberdeen headquarters. 

Santos announces A$400m Gladstone LNG investment

By: Esmarie Iannucci     31st May 2018 Oil and gas major Santos and its joint venture partners in the Gladstone liquefied natural gas (GLNG) project, will invest more than A$400-million on the 137-well Arcadia gas project, in the Bowen basin. Santos said on Thursday that the A$400-million Arcadia investment was in addition to the... 

Mining’s share of total project work in Queensland falling

By: Esmarie Iannucci     24th May 2018 While the Queensland Major Projects Pipeline Report has shown a 58% increase in major project work during 2017/18, private sector investment, particularly in the mining sector, is falling. The report, compiled by the Queensland Major Contractors Association, Construction Skills Queensland and... 

Woodside outlines plans for expanded Scarborough

By: Esmarie Iannucci     23rd May 2018 Australian oil and gas producer Woodside has increased the forecast capital investment to develop its Scarborough gas field from the previous estimate of between $8.5-billion and $9.5-billion to $11-billion. CEO Peter Coleman told an investor briefing on Wednesday that the increase in expected... 

Norway postpones decision on carbon capture plant, drops Yara

By: Reuters     15th May 2018 Norway postponed a final decision on whether to go ahead with a project to develop Europe's first industrial carbon capture and offshore storage (CCS) project, after dropping one of its participants, Yara International . The government said on Tuesday that fertiliser maker Yara's site, one of... 

Interconnected Carnarvon basin will get more LNG to market – Chevron

By: Esmarie Iannucci     15th May 2018 US oil and gas major Chevron has called for greater cooperation between industry players and the government to unlock future value in the Carnarvon basin, offshore Western Australia. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference, in Adelaide,... 

Australia East Coast gas prices seen rising as cheap gas supply dwindles

By: Esmarie Iannucci     15th May 2018 Australia’s East Coast gas prices are forecast to rise up to 30% to between A$10/GJ and A$13/GJ by the mid-2020s, as cheap gas supply continues to decline, advisory firm Wood Mackenzie has reported. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference,... 

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