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New Century brings new life to former Queensland mine

By: Mariaan Webb     14th September 2018 Praise is pouring in for New Century Resources’ zinc tailings project at a former mine site north-west of Mount Isa, Queensland, with Mines Minister Anthony Lynham declaring it an “exciting new approach” and Queensland Resources Council CEO Ian Macfarlane labelling the project “ingenious”. The... 

Gas industry pushes for further easing of restrictions to boost supply

By: Esmarie Swanepoel     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... 

PNG LNG signs mid-term offtake

By: Esmarie Swanepoel     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... 

AEMO sees no gas supply gaps to 2030

By: Esmarie Swanepoel     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... 

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... 

Harbour tweaks offer for Santos

By: Esmarie Swanepoel     17th May 2018 Takeover target Santos has received a revised offer from suitor Harbour Energy Australia. While the offer price has not been revised from the previous $4.98 a share, the revised proposal included a number of significant changes to the transaction structure, including a US dollar cash offer with... 

Santos delivers Scotia project 16% under budget

By: Esmarie Swanepoel     26th April 2018 ASX-listed Santos has completed the commissioning and start up of its $400-million Scotia project, in the Bowen basin of Queensland. The company told shareholders that the project was completed ahead of schedule and under budget, with initial full field production exceeding 40 TJ/d, in line... 

ExxonMobil restarts quake-hit PNG LNG ops ahead of schedule

By: Esmarie Swanepoel     13th April 2018 The Papua New Guinea liquefied natural gas (PNG LNG) project has restarted production ahead of schedule, following the 7.5 magnitude earthquake in the country’s highlands in February. Project operator ExxonMobil reported on Friday that one train was currently operating at the LNG plant near Port... 

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... 

Santos launches $750m Queensland gas project

By: Megan van Wyngaardt     27th February 2018 Domestic gas supply and regional jobs in Queensland are set to gain considerably with Santos GLNG investing $900-million in upstream gas developments in Maranoa, Western Downs, Central Highlands and Banana this year. As well as upstream developments around the Fairview, Scotia and Arcadia... 

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,... 

Santos turnaround delivers strong operating performance

By: Megan van Wyngaardt     24th January 2018 A turnaround strategy to deliver a low-cost, reliable and high-performance business at ASX-listed natural gas producer Santos' operations during 2017 progressed ahead of expectations, with the company now being stronger and more resilient, MD and CEO Kevin Gallagher said on Wednesday. "In 2017,... 

Queensland gas supply deal enacted

By: Esmarie Swanepoel     4th October 2017 Queensland’s liquefied natural gas (LNG) producers have enacted a deal struck with the federal government to provide sufficient gas supply to the domestic market in 2018 and 2019, signing an industry-government agreement. Shell, Origin Energy and Santos in September agreed to supply an additional... 

Australian govt strikes deal with gas exporters on domestic supply

By: Esmarie Swanepoel     28th September 2017 Australia’s three largest gas exporters, Shell, Origin Energy and Santos, have struck a deal with the federal government to supply the expected gas shortfall in 2018. The Australian Competition and Consumer Commission (ACCC) and the Australia Energy Market Operator (AEMO) have both warned of... 

Bamin inks MoU to develop Brazil-based iron-ore project

By: Schalk Burger     4th September 2017 Diversified resources producer Eurasian Resources Group’s (ERG’s) wholly owned Brazilian subsidiary, Bahia Mineração (Bamin), has signed a memorandum of understanding (MoU) with the Brazil state of Bahia and a consortium of Chinese companies to develop a $2.4-billion integrated mining and... 

Santos to redirect gas to Pelican Point power station

By: Esmarie Swanepoel     14th August 2017 Oil and gas producer Santos reported on Monday that it had signed an agreement to redirect gas to the Pelican Point power station, to support South Australia’s energy needs. Starting in January next year, Santos will supply 15 PJ of electricity to the power station, through a mix of gas from the... 

Resource exports boost mining equipment

By: Marleny Arnoldi     11th August 2017 The mining industry is Australia’s prime driver of export growth, says pumps and pressure cleaners manufacturer Australian Pump Industries, commonly known as Aussie Pumps.  

Higher gas prices driving away investment - report

By: Esmarie Swanepoel     6th June 2017 A new report by independent energy consultancy EnergyQuest has revealed that instead of driving a gas investment boom, high energy prices on Australia’s east coast was in fact resulting in lower underlying gas demand. EnergyQuest CEO Dr Graeme Bethune on Tuesday said that total east coast... 

Senate inquiry into Bight fizzles

By: Esmarie Swanepoel     12th May 2017 A Senate inquiry into oil and gas exploration in the Great Australian Bight has failed to deliver conclusive results, with committee members failing to reach a consensus or make a formal recommendation to the government. While the Greens senator remained opposed to any oil and gas exploration in... 

Turnbull concerned by impending Australia gas supply cliff

By: Esmarie Swanepoel     9th March 2017 Australian Prime Minster Malcolm Turnbull on Thursday said warnings of potential shortfalls in gas were “very concerning”, and called on the CEOs of east coast gas companies to address the threat to customers. Turnbull’s comments come after the Australian Energy Market Operator (AEMO) released a... 

Australian govt funds mining studies 

By: Esmarie Swanepoel     30th January 2017 The Australian federal government will invest A$1.87-million to fund four new research projects in New South Wales and Queensland, aimed at boosting the resources sector. Education and Training Minister Simon Birmingham said the government’s financial support for three mining research programmes... 

Karoon says Petrobas deal faces opposition

By: Esmarie Swanepoel     21st November 2016 A court has ordered Brazil's Petrobas to cease the sales process of the Baúna and Tartaruga Verde fields, which ASX-listed Karoon Gas is in negotiations to buy. ASX-listed Karoon Gas on Monday alerted shareholders to the court proceedings against Petrobas and the Brazilian oil and gas regulator... 

Australian LNG export hits 22-month high

By: Esmarie Swanepoel     14th November 2016 Australia’s monthly liquefied natural gas (LNG) exports have climbed to record highs during October, with values reaching A$1.75-billion, energy market analyst EnergyQuest has revealed. This was the best performance in 22 months. 

Australia needs new oil discoveries or risks total import dependence – Appea

By: Esmarie Swanepoel     14th October 2016 Australia has to continue its search for new offshore oil discoveries or face the risk of being totally dependent on imports, the Australian Petroleum Production and Exploration Association (Appea) has warned. Responding to the Australian Energy Statistics report released by the Department of... 

BP shelves plans to drill in Great Australian Bight

By: Esmarie Swanepoel     11th October 2016 Oil major BP will not progress to exploration in the Great Australian Bight, offshore South Australia, following a review of the company’s upstream strategy. BP said in a statement on Tuesday that the Great Australian Bight project would not be able to compete for capital investment with other... 

Karoon confirms talks to buy two offshore fields from Petrobas

By: Esmarie Swanepoel     7th October 2016 ASX-listed Karoon Gas has confirmed that it is in negotiations with Petrobas on the possible acquisition of the Baúna and Tartaruga Verde fields. The Brazilian firm overnight reported that the potential transaction considered the sale of 100% of the stake in the Baúna field, located in shallow... 

Karoon makes a play in Brazilian oilfield

By: Esmarie Swanepoel     28th September 2016 Melbourne-based oil and gas explorer Karoon Gas Australia will spend up to $20.5-million to gain a 35% equity interest in the Santos Basin exploration blocks, offshore Brazil. Karoon has entered an agreement with Pacific Exploration and Production Corporation to acquire an interest in the five... 

Santos appoints new CFO

By: Esmarie Swanepoel     20th September 2016 Oil and gas giant Santos has appointed Anthony Neilson as its new CFO, replacing Andrew Seaton, who recently announced his retirement. Neilson is the current CEO of Roc Oil, and has previously held commercial, finance and business services roles at Caltex Australia, Credit Suisse First Boston and... 

Santos posts half-year loss on impairment, sales up

By: Megan van Wyngaardt     19th August 2016 Oil and gas developer Santos on Friday reported disappointing results, with a first half net loss of $1.1-billion, impacted significantly by an impairment charge for the Gladstone liquefied natural gas (GLNG) project of $1.05-billion after tax and lower oil prices. The company earlier said it was... 

Santos flags $1bn Gladstone LNG charge on gas supply

By: Bloomberg     15th August 2016 antos will take a $1.05-billion writedown on its Gladstone LNG project due to rising prices for third-party gas supplies and slower-than-expected ramp up of its own equity output to feed the export project. The non-cash charge on the liquefied natural gas (LNG) development in Queensland, which... 

Beach reports record quarter, helped by Drillsearch merger

By: Mariaan Webb     28th July 2016 Oil and gas company Beach Energy, which recently merged with Drillsearch, has increased its production by 13% quarter-on-quarter in the June quarter, producing 2.72-million barrels of oil equivalent in the three-month period. The company sold 3.10-million barrels of oil equivalent, a 17% increase... 

Santos half-year production hits record

By: Mariaan Webb     22nd July 2016 Oil and gas company Santos produced a record 31.1-million barrels of oil equivalent in the first half of 2016 and significantly boosted its sales volumes, but a 29% decrease in the average realised oil price has dented its revenue. Santos increased its production by 10% year-on-year in the first... 

Mozambique mining to benefit from infrastructure developments

By: Keith Campbell     8th July 2016 Encouraging news for the Chibuto heavy minerals sands project in Mozambique is that three companies are, it has been reported, interested in developing the Chongoene Logistics Corridor, without which Chibuto will not be viable on an sustained basis. The information was revealed by Transport and... 

Queensland LNG exports surpass that of Russia

By: Creamer Media Reporter      2nd June 2016 Australia’s liquefied natural gas (LNG) exports have increased by 53.2% quarter-on-quarter to 10.1-million tonnes in the three months ended March, as production from Queensland’s projects ramped up faster than expected. For the first time, Queensland’s LNG exports have surpassed that of Russia,... 

China’s ENN buys $750m stake in Santos

By: Esmarie Swanepoel     24th March 2016 Chinese gas distributor ENN Group has moved to gain a significant shareholding in Australia’s Santos, acquiring shareholder Hony Capital’s 11.7% share in the oil and gas major in a deal valued at $750-million. The transaction, announced on Thursday, would result in ENN becoming the largest... 

Santos posts A$2.7bn loss on impairments, low oil price

By: Mariaan Webb     19th February 2016 Asset writedowns of A$2.8-billion after tax have plunged Australian oil and gas producer Santos into a full-year loss of A$2.7-billion. The impairment charges were primarily a reflection of the current oil price environment and related predominately to the company’s Cooper basin, Gladstone... 

Beach flags impairment charge, cuts capex and output guidance

By: Esmarie Swanepoel     25th January 2016 Australian oil and gas producer Beach Energy on Monday warned of an impairment charge of between A$450-million and A$650-million for the 2016 half-year, on the back of lower oil prices. The company also announced a A$60-million reduction in its planned capital expenditure for 2016, to between... 

Talang Santos delivers strong quarter for Kingsrose

By: Esmarie Swanepoel     18th January 2016 Remedial work at the Talang Santos gold mine, in Indonesia, has resulted in gold production increasing by 55% during the December quarter. Owner Kingsrose Mining said on Monday that the Talang Santo mine delivered 6 213 oz of gold during the three months to December, compared with the 4 010 oz... 

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