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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... 

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... 

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... 

Marijuana is the new gold as former Canada miners go to pot

By: Bloomberg     19th March 2018 Turns out, it may be easier to strike gold by growing green. Just ask Jay Wilgar, a former wind power developer who started a medical marijuana company with friend Travis Kanellos after hatching the idea while lifting weights at a gym. When they began looking at ways to take their startup... 

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... 

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... 

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... 

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... 

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... 

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... 

M&R’s oil and gas unit turns to ‘complementary markets’ amid project slowdown

By: Terence Creamer     1st March 2018 The oil and gas unit of engineering and construction group Murray & Roberts (M&R) is actively pursuing projects in “complementary markets”, owing to a slowdown in new project activity in the Australasian oil and gas sector. The value of M&R’s oil and gas order book has fallen to below R4-billion,... 

Po Valley retains Italy assets following mutual termination of Saffron deal

By: Mariaan Webb     1st March 2018 Australia-based gas producer Po Valley on Thursday announced that it would retain its northern Italy gas assets, after a deal with UK firm Saffron Energy about the sale of Po Valley Operation (PVO) was terminated. The transaction formed part of a broader three-way commercial deal to create a... 

Underground mining lifts M&R in challenging market

By: Terence Creamer     28th February 2018 Engineering and construction group Murray & Roberts (M&R) reported a strong rise in results for the six months to December 31 on the back of a robust performance from its underground mining unit, as well as reduced Middle Eastern losses. In addition, the results were buoyed by the fact that a... 

ONGC blames policies for Krishna-Godavari delay

By: Ajoy K Das     27th February 2018 India’s national exploration and production (E&P) major, ONGC has said that it would miss the June 2019 deadline to start production from its deep-water Krishna-Godavari (KG) oil and gas block on the east coast. In a regulatory filing, ONGC cited changes in government policy as the reason for... 

Miners report some infrastructure damage after Papua quake

By: Reuters     27th February 2018 Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake on the weekend, as projects in the resource-rich region assess the impact on their operations. Barrick Gold said a power station that supplies its Porgera gold mine had been... 

Major quake cuts communications, halts oil and gas operations in Papua New Guinea

By: Reuters     26th February 2018 At least one company began evacuating non-essential personnel after a powerful 7.5 magnitude earthquake hit Papua New Guinea's energy-rich interior on Monday, causing landslides, damaging buildings and closing oil and gas operations. The tremor hit in the rugged, heavily forested Southern... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring for new opportunities worldwide and countries scrutinised for their investment attractiveness and moni- tored in terms of economic growth, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry... 

Namibia mining sector is investor friendly

By: Victor Moolman     23rd February 2018 The Namibian mining sector has become more investor friendly than South Africa, as the country has clear policies that have been consistently applied, explains Sandton-based law firm Webber Wentzel partner Jonathan Veeran. Namibia has four policies governing mining and mineral prospecting: the... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in SA

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring worldwide for new opportunities and countries scrutinised for their investment attractiveness and monitored in terms of economic growth, currently, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining... 

De Beers sets higher output target for 2018

By: Simone Liedtke     22nd February 2018 Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017. 

Govt to fast-track finalisation of outstanding mining policy

By: Megan van Wyngaardt     21st February 2018 To take advantage of the cyclical upturn in the mining sector and improved investor sentiment to boost economic growth, government needs to finalise outstanding policy and administrative reforms. The proposed implementation of the revised Mining Charter, contested by industry and the Chamber of... 

BC extends provincial flow-through tax credit for a year; resumes fight against Canadian oil

By: Henry Lazenby     21st February 2018 The British Columbia provincial government has released its Budget 2018 plan, confirming that the provincial flow-through exploration tax incentive will be extended for another year until the end of this year. The mining flow-through share programme is seen as critical to reinforcing the... 

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      19th February 2018 Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

BHP Billiton expects drilling of first new Trion well to begin in October

By: Reuters     16th February 2018 Drilling of the first new exploration well in BHP Billiton's deepwater Trion project will begin in October, part of a plan approved by Mexican regulators on Thursday that also revised downward the project's estimated oil and gas resources. Australian mining and oil giant BHP Billiton won the... 

Satellite solutions provider targets African mining industry

By: Nadine James     16th February 2018 Over the last 18 months, communications service provider SES Networks has noticed significant demand for connectivity from mining and oil and gas operations, and as a result has tried to grow its foothold within these markets. SES Networks Africa Sales VP Carole Kamaitha explains that the demand... 

New Century signs gas supply agreement with Santos

By: Anine Kilian     15th February 2018 ASX-listed zinc developer New Century Resources has entered into a four-year A$100-million gas supply agreement (GSA) with independent oil and gas producer Santos for its Mount Isa power generation facilities in the Lower Gulf of Carpentaria. While the full terms of the GSA remain confidential,... 

Woodside lashes out at South Korea's Kogas over disputed LNG contract

By: Reuters     14th February 2018 Australia's Woodside Petroleum on Wednesday lashed out at Korea Gas Corp (Kogas) over a dispute it has with the South Korean company, saying KOGAS owes it money for an expired liquefied natural gas (LNG) contract from the North West Shelf Project. CEO Peter Coleman of Woodside Petroleum,... 

Lion Energy undertaking strategic review of assets

By: Simone Liedtke     14th February 2018 ASX-listed oil and gas exploration and production company Lion Energy is undertaking a strategic review of its assets, and following the changes to the board of directors, which is effectively immediately. On Wednesday, the company announced the strategic review, which is aimed at rationalising... 

M&R committed to deliver sub-Saharan power and water prospects as mega-project era draws to close 

By: Creamer Media Reporter      14th February 2018 The Power & Water business platform within JSE-listed engineering and construction group Murray & Roberts (M&R) is beginning to shift its attention from Eskom’s two megascale power station projects, in Limpopo and Mpumalanga respectively, to tackling a range of smaller opportunities in various... 

Woodside buys ExxonMobil’s Scarborough field stake, announces A$2.5bn share sale

By: Mariaan Webb     14th February 2018 Australian oil and gas producer Woodside on Wednesday announced that it had entered into a binding agreement to buy ExxonMobil’s share of the Scarborough gas field, in the Carnavon basin as part of a A$2.5-billion share sale. The transaction involves an additional 50% interest in WA-1-R, which... 

India approves policy for auction of small oil, gas fields

By: Ajoy K Das     13th February 2018 India’s Union Cabinet has approved the second round of the Discovered Small Field Policy, paving the way for 60 small oilfields to be put up for auction. These discovered small and unmonetised discoveries host an estimated 194.65-million tons of crude oil or crude oil equivalent natural gas. The... 

Fourth month of continuous growth for Deloitte WA Index

9th February 2018 The Deloitte WA Index climbed marginally higher in the first month of 2018, as the market capitalisation of Western Australia-listed companies increased by 0.48% to close out January at A$181.83-billion. This marks the fourth month of continuous growth, Deloitte clients and markets partner for... 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Cameco appoints new chairperson

By: Henry Lazenby     9th February 2018 Canada's largest uranium producer Cameco has announced that board member Ian Bruce will succeed Neil McMillan as chairperson of the board immediately following the annual general meeting scheduled to be held on May 16. McMillan is retiring from the board after five years as chairperson, and 16... 

Bears Ears' mining rush falls flat as no one bothers to show up

By: Bloomberg     8th February 2018 Early on Friday morning, vast swathes of the red-rock high plateau that surrounds federally protected buttes in southern Utah were officially thrown open to miners. A controversial decision weeks earlier by President Donald Trump had shrunk the size of two national monuments – known as Bears Ears... 

Suricate Minerals seeks to unlock latent mineral wealth in Mauritania

7th February 2018 Privately-owned Mauritanian mining and exploration company Suricate Minerals is engaging with international financial and technical service partners to develop its quartz, barite, lithium, copper and gold prospects located throughout the country. Suricate Executive Director Ahmed Hertani, who has... 

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