Shell to sell 24% stake in Woodside

The share price of oil and gas firm Woodside dipped on Friday after oil major Shell announced it would sell its stake in the Australian company. Royal Dutch Shell CFO Simon Henry said overnight that its 24.27% stake in Woodside no longer fitted...

A$2.5bn North West shelf expansion approved

The participants in the North West Shelf project on Thursday gave the go-ahead for the A$2.5-billion first phase of the Greater Western Flank (GWF) project, off the north-west coast of Australia. The GWF Phase 1 project would develop the Goodwyn...

Santos reports higher Q3 output, sales

Australian oil and gas major Santos has increased its production volumes by 7% during the third quarter ended September, while sales volumes increased by 6%. Quarterly production increased to 12.7-million barrels of oil equivalent, on the back of...

Linc Energy launches 5% share buy-back

ASX-listed liquefied natural gas (LNG) firm Linc Energy has announced its intention to conduct an on-market buy-back of up to 5% of the company’s fully paid ordinary shares as a capital management strategy. CEO and MD Peter Bond said on Monday...

New high-pressure subsea valve performance-verified

Pneumatic equipment manufacturer Haskel International has successfully completed performance verification testing as described by the American Petroleum Institute (API) standards, for its BuTech subsea valves used in oil and gas production.

Amadeus considering unsolicited takeover offer

ASX-listed oil and gas producer Amadeus Energy on Friday went into a trading halt on news of an unsolicited takeover offer. The energy company told the ASX in a statement that the potential bidder required the company to keep the terms of the...

Gold to bring in 75% of Franco-Nevada revenue by Q3

Resources royalty firm Franco-Nevada Corporation expects gold royalties to account for a much bigger slice of overall revenue this year, thanks to higher expected bullion prices and weaker prices and output levels for its other commodities. The...

Company Announcement: Australian oil and gas weathering global downturn

Attached please find a press release on: The global economic crisis has not yet had a noticeable impact on Australian oil and gas production, according to a new authoritative industry report.

Finance Minister Manuel softens royalty stance, opts for Ebit

South African Finance Minister Trevor Manuel on Thursday softened his hard stance on mining royalties and opted for formulae-based royalty rates that would use earnings before interest and tax (Ebit), with full capital expensing, rather than...

Mining giant revises down 2005/6 petroleum output

The world’s largest and most diversified mining company BHP Billiton said last week at its interim results presentation for the six months ended December 31, 2004, that it would not meet market expectations for oil and gas production in 2005...

BHPB revises down petroleum output for 2005-6

The world's largest and most diversified mining company BHP Billiton said yesterday at its interim results presentation for the six months ended December 31, 2004, that it would not meet market expectations for oil and gas production in 2005 and...

World Bank mining decision 'good news'

In a development hailed by a senior official at the Chamber of Mines of South Africa as ‘good news’, the board of the World Bank has endorsed a proposal that the Bretton Woods institution to continue investments in the oil, gas and...