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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... 

Beach appoints new CEO

By: Esmarie Swanepoel     12th January 2016 Oil and gas major Beach Energy has appointed Matthew Kay as CEO, effective from July 17. Kay, which is currently the executive GM of strategy and commercial at ASX-listed Oil Search, would replace acting CEO Neil Gibbins. 

GLNG secures more gas

By: Esmarie Swanepoel     4th January 2016 The Gladstone liquefied natural gas (GLNG) participants have executed a sales agreement with AGL Energy to purchase 254 petajoules of gas for supply to the GLNG project. The gas would be delivered at Wallumbilla over a period of 11 years starting in January 2017, with pricing based on an... 

Santos eyes higher output on lower costs

By: Esmarie Swanepoel     23rd October 2015 Takeover target Santos has broken the one-million-tonne liquefied natural gas (LNG) sales volume barrier during the three months to September. The company reported on Friday that LNG sales volumes had more than doubled in 2015, with further growth expected in the fourth quarter of the year, after... 

Senex inks GLNG deal as production starts

By: Esmarie Swanepoel     24th September 2015 Oil and gas junior Senex Energy has entered into a series of agreements with the owners of the Gladstone liquefied natural gas (GLNG) project, in Queensland, which could lead to the development of its own Western Surat gas project. Under the terms of the transaction, Senex would receive... 

Contract terms to change for next round of India oil, gas blocks auction

By: Ajoy K Das     12th August 2015 India will put nine oil and gas blocks up for auction before the end of the current fiscal year and will transition from production-sharing contracts (PSCs) to revenue-sharing agreements (RSAs) with successful bidders. According to a senior government official, the auction of oil and gas blocks... 

Central Petroleum in A$45m Northern Territory deal with Santos

By: Esmarie Swanepoel     5th June 2015 ASX-listed Central Petroleum would acquire a 50% interest in the Mereenie oil and gas field, in the Northern Territory, for A$45-million. Under the terms of the agreement, Central would also free-carry Santos under a A$10-million works programme prior to the development of the proposed Northern... 

Sandfire drops CAER case over investment research

By: Esmarie Swanepoel     30th April 2015 Copper miner Sandfire Resources has abandoned court proceedings against the Centre for Australian Ethical Research (CAER), after CAER publicly admitted that research it had conducted in 2014 did not meet required standards. Sandfire launched Federal Court proceedings against CAER in November,... 

Woodside’s A$2.75bn Wheatstone buy gains competition approval

By: Esmarie Swanepoel     5th March 2015 The Australian Competition and Consumer Commission (ACCC) this week gave its blessing to ASX-listed Woodside’s $2.75-billion buy of Apache Corporation’s share in the Wheatstone liquefied natural gas (LNG) project. Under the sales agreement, Woodside would acquire Apache’s 13% interest in the... 

Underlying performance strong, despite FY loss – Santos CEO

By: Esmarie Swanepoel     20th February 2015 Oil and gas giant Santos on Friday reported a net loss of A$935-million for the year ended December, after reporting a A$1.5-billion noncash impairment charge. This compared with a net profit of A$516-million in the previous financial year. 

$807m payout for Oil Search as PNG LNG reaches financial completion

By: Esmarie Swanepoel     6th February 2015 Payments from the Papua New Guinea liquefied natural gas (PNG LNG) project will begin to flow after the $19-billion development reached financial completion. Joint venture (JV) partner Oil Search, from Australia, reported on Friday that it was set to receive an $807-million windfall from the... 

Lower oil price sees Beach defer projects

By: Esmarie Swanepoel     29th January 2015 ASX-listed Beach Energy on Thursday announced that it would reduce its capital expenditure (capex) during the second half of the 2015 financial year by around 20%, or by about A$55-million. The company told shareholders that it had undertaken a detailed review of its capex programme as a result... 

Santos slashes 2015 capex by 25%, maintains output guidance

By: Esmarie Swanepoel     11th December 2014 Australian oil and gas giant Santos on Thursday announced that it would reduce its 2015 capital expenditure (capex) by some 25%, from the planned $2.7-billion to $2-billion. Growth and sustaining capex for 2015 have been estimated at $1.4-billion and $600-million respectively, and Santos CEO and... 

Sandfire takes CAER to court over ‘misleading’ research

By: Esmarie Swanepoel     14th November 2014 Copper miner Sandfire Resources has launched Federal Court proceedings against the Centre for Australian Ethical Research (CAER), claiming misleading research. In October this year, the CAER conducted a review for the Australian National University (ANU) on companies in which the university had... 

CAER refuses to rewrite Sandfire profile

By: Esmarie Swanepoel     17th October 2014 The Centre for Australian Ethical Research (CAER) on Friday rejected claims that it would rewrite its profile of copper miner Sandfire Resource, which resulted in the Australian National University (ANU) dumping its stock earlier this month. Following a review by CAER, the ANU took the decision... 

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