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Oil and Gas News

Miners welcome resource funding, but petroleum levy questioned

By: Esmarie Iannucci     12th May 2021 The resources sector has welcomed measures by the federal government to boost resource investment and growth. During the 2021-22 Budget, the federal government announced a A$100-million investment to extend the Junior Minerals Exploration Incentive for a further four years, from July 2021, to... 

Hydrogen and new gas a focus of 2021/22 Budget

By: Esmarie Iannucci     12th May 2021 The federal government has announced a number of investments into low emissions technologies and reduce emissions during is 2021-22 Budget. Minister for Energy and Emissions Reduction Angus Taylor said the Budget is supporting the Government’s responsible and pragmatic approach to energy policy... 

Appea calls for more reforms in federal budget

11th May 2021 The Australian Petroleum Production and Exploration Association (Appea) has called on the federal government to instigate more measures to boost investment and spending ahead of the federal Budget. “Australia entered its first recession in more than 30 years in June last year, halting more than... 

Comet Ridge awarded more exploration tenure in Qld

By: Esmarie Iannucci     10th May 2021 Natural gas developer Comet Ridge has been granted an authority to prospect (ATP) over a 338 km2 parcel of land located in the gas rich Bowen Basin, with the aim of bringing more gas to the Queensland market. “In the last 12 months the government has approved 10 new Authority to Prospect – half... 

Can Canada's oil-rich Alberta capture a low-carbon future?

By: Bloomberg     7th May 2021 At a research site in rural Alberta, carbon dioxide is injected deep into the ground. Using remote sensors, scientists monitor its movement to ensure the planet-heating gas does not migrate upwards. "Basically, think of ultrasound on bodies – we're doing ultrasound on the earth," said Don... 

Can Canada's oil-rich Alberta capture a low-carbon future?

Aus working on resource export strategy

By: Esmarie Iannucci     7th May 2021 The federal government has announced a A$20-million investment into a Global Resources Strategy, to help diversify exports and find new markets for Australia’s resources and Technology. Resources, Water and Northern Australia Minister Keith Pitt on Friday said that the aim of the new strategy is... 

A$58.6m added to gas-fired recovery

By: Esmarie Iannucci     7th May 2021 The federal government this week announced A$58.6-million of new measures to advance its gas-fired recovery in a post Covid-19 economy. Energy and Emissions Reduction Minister Angus Taylor on Friday said that through the 2021-22 Budget, the government is building on the progress already made to... 

A$58.6m added to gas-fired recovery

NSW clears the way for hydrogen/gas plant

By: Esmarie Iannucci     6th May 2021 The New South Wales government has given its blessing for energy provider EnergyAustralia to develop Australia’s first net zero emissions, hydrogen/gas power plant, striking an A$83-million funding agreement. EnergyAustralia has been given approval for the expansion of its existing Tallawarra... 

Origin adds more gas to southern markets

By: Esmarie Iannucci     6th May 2021 Energy provider Origin Energy has struck an additional gas supply and transport agreement that would increase gas supply to customers in southern markets. Under a four-year supply agreement with Australia Pacific Liquefied Natural Gas (LNG), Origin has secured up to an additional 91 PJ of gas... 

M&R's Clough awarded R1.1bn EPC contract for New South Wales power station

By: Creamer Media Reporter      5th May 2021 Murray & Roberts (M&R) subsidiary Clough has been awarded a R1.1-billion contract for the engineering, procurement and construction of the Tallawarra B gas turbine power station in New South Wales, Australia. Tallawarra B is a 300 MW expansion of the existing Tallawarra A power station. 

BHP reports first oil production at Ruby project in Trinidad and Tobago

By: Reuters     5th May 2021 Australian miner BHP Group said on Wednesday it had achieved first oil production from its Ruby project, located off the shore of Trinidad and Tobago. The development consists of both oil and gas production wells and is expected to produce 16 000 gross barrels of oil per day after completion,... 

IEA report outlines urgent need to accelerate investment in critical minerals needed to drive energy transitions 

By: Terence Creamer     5th May 2021 A new International Energy Agency (IEA) report is warning of a potential supply deficit for some of the ‘critical minerals’ needed to support a global shift in the energy system that is aligned with the Paris Climate Agreement, as well as the growing number of country commitments to cutting... 

IEA report outlines urgent need to accelerate investment in critical minerals needed to drive energy transitions

Ministers agree to pipeline reforms

By: Esmarie Iannucci     4th May 2021 Australian Energy Ministers have agreed to a major package of reforms to natural gas pipeline regulation that are expected to reduce costs of transportation and delivered gas, improve access to pipelines, and facilitate more effective competition in the gas market. The reforms agreed through a... 

AGL abandons LNG import plans

By: Esmarie Iannucci     4th May 2021 Energy provider AGL Energy has pulled the plug on its proposed A$130-million Crib Point liquefied natural gas (LNG) import project, after the Independent Advisory Committee (IAC) and the Victorian Planning Minister found that the project would have unacceptable environmental effects. AGL had... 

AGL abandons LNG import plans

Santos looks at CCS at Bayu-Undan

By: Esmarie Iannucci     3rd May 2021 Oil and gas major Santos has signed a memorandum of understanding (MoU) with energy company Eni to cooperate on opportunities in northern Australia and Timor-Leste. Santos on Monday told shareholders that the areas of cooperation include assessing the synergies of sharing possible... 

Santos looks at CCS at Bayu-Undan

Origin's revenue rises despite LNG production fall

By: Esmarie Iannucci     30th April 2021 Energy major Origin Energy has reported a 4% decline in gas production during the March quarter, compared with the previous quarter, due to planned maintenance activities in operated fields and two less days in the quarter. Liquefied natural gas (LNG) production for the March quarter reached... 

Santos completes 25% sale of Bayu-Undan

By: Esmarie Iannucci     30th April 2021 Oil and gas major Santos has completed the sell down of a 25% stake in its Bayu-Undan and Darwin liquefied natural gas (LNG) projects to partner SK E&S. Santos on Friday said that the sell-down would result in the company receiving $186-million at the completion of the transaction, being the... 

Public consultation starts on Qld energy reforms

By: Esmarie Iannucci     30th April 2021 The Queensland government has welcomed public consultation on proposed reforms to the National Electricity Market, which will help shape the future of Queensland’s energy supply. Minister for Energy, Renewables and Hydrogen Mick de Brenni said the Energy Security Board’s (ESB) suite of potential... 

Public consultation starts on Qld energy reforms

Qld's QRIDP set to boost resource investment

By: Esmarie Iannucci     29th April 2021 The Queensland state government on Thursday launched the Queensland Resources Industry Development Plan (QRIDP), aimed at creating more growth, jobs and investment in the state’s resource sector. Resources Minister Scott Stewart said the QRIDP was about working with industry, the regions and... 

Tackling climate change could not be more urgent – Anglo American 

By: Martin Creamer     26th April 2021 Tackling climate change could not be more urgent, Anglo American said on Monday when it presented its biannual sustainability performance update. “For the emissions that we control in our business, we have come a long way, delivering our 2020 target to reduce greenhouse gas emissions by 22% a... 

Tackling climate change could not be more urgent – Anglo American
Photo by Creamer Media
From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce

Anglo explores PGMs-based tech to simplify hydrogen storage in electric vehicles 

By: Martin Creamer     26th April 2021 Diversified mining and marketing company Anglo American, through its platinum group metals (PGMs) business Anglo American Platinum, is partnering with Umicore to research and develop technology that has the potential to transform the way hydrogen can be stored and used to power fuel cell electric... 

Anglo explores PGMs-based tech to simplify hydrogen storage in electric vehicles
Photo by Creamer Media's Donna Slater
Anglo American executive head of PGMs market development Benny Oeyen

Santos prices $1bn bond

By: Esmarie Iannucci     23rd April 2021 Oil and gas major Santos has priced $1-billion ten-year bond in the US dollar market. The bonds have been priced at a fixed coupon of 3.649% for a period of ten years, and would mature in April 2031, with the company saying on Friday that the bond would extend its weighted average term to... 

Glencore chair defends pay plan for commodity trader’s new CEO

By: Bloomberg     22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... 

Glencore chair defends pay plan for commodity trader’s new CEO
Gary Nagle

Woodside revenues on the rise

By: Esmarie Iannucci     22nd April 2021 Oil and gas producer Woodside has reported a 4% increase in revenues for the first quarter ended March, compared with the previous corresponding quarter, as sales volumes increased by 8%. Woodside on Thursday reported that production during the first quarter was down by 2% on the previous... 

Santos production soars in March quarter

By: Esmarie Iannucci     22nd April 2021 Oil and gas major Santo has reported a 39% increase in production during the first quarter ended March, compared with the previous corresponding period, as the company integrated assets from its ConocoPhillips acquisition. First quarter production reached 24.8-million barrels of oil equivalent... 

Santos production soars in March quarter

Santos and Rio ink new offtake agreement

By: Esmarie Iannucci     21st April 2021 Oil and gas major Santos has struck a new gas supply agreement with diversified miner Rio Tinto, under which Santos would supply up to 15 PJ of natural gas from late 2021. Santos MD and CEO Kevin Gallagher said on Wednesday that Rio has been a long-term buyer from Santos. 

West Barracouta starts production

By: Esmarie Iannucci     20th April 2021 The $400-million West Barracouta gas project has started delivering gas into eastern Australia, Esso Australia reported this week. The project, which is owned by the Gippsland Basin joint venture between BHP and Esso Australia, which is a subsidiary of ExxonMobil, was one of the largest proven... 

Energy expert writes to government calling for overhaul of RMIPPPP ahead of July financial close  

By: Terence Creamer     19th April 2021 An energy expert has written to the Department of Public Works and Infrastructure (DPWI) and the Independent Power Producer (IPP) Office to highlight the expensive shortcomings of the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which he says should be replaced by a... 

Energy expert writes to government calling for overhaul of RMIPPPP ahead of July financial close

Gas is the new coal with risk of $100bn in stranded assets

By: Bloomberg     19th April 2021 Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell. Citigroup Inc. and JPMorgan Chase & Co. are among the... 

A$1bn emissions deal inked in South Australia

By: Esmarie Iannucci     19th April 2021 he Australian Petroleum Production and Exploration Association (Appea) has welcomed the A$1.08-billion emissions reduction agreement between the federal and South Australian governments. The State Energy and Emissions Reduction Deal is expected to deliver secure, reliable and affordable energy... 

New Woodside boss faces existential threats, outgoing CEO says

By: Reuters     16th April 2021 Woodside Petroleum's outgoing boss said on Friday his replacement will face two company-defining challenges: replacing its ageing assets and managing the transition to cleaner energy. Australia's top independent gas producer is betting its future on the $11-billion Scarborough gas project, with... 

New Woodside boss faces existential threats, outgoing CEO says
Woodside outgoing Peter Coleman

White House considers methane-busting vow before climate summit

By: Bloomberg     16th April 2021 The Biden administration is considering singling out methane for significant reductions as part of a pledge to cut greenhouse gases in advance of a climate summit next week, according to two people familiar with the matter. President Joe Biden is already expected to unveil an ambitious goal for... 

Origin warns of economic fallout of arbitrator ruling

By: Esmarie Iannucci     16th April 2021 Energy major Origin Energy has warned of a A$30-million to A$40-million increase in the company’s cost of supply for the 2021 financial year, and a further A$60-million to A$80-million increase in 2022. Origin has been engaged in a price review for the gas purchased from fellow-listed Beach... 

Moomba FID expected in second half - Gallagher

By: Esmarie Iannucci     15th April 2021 Oil and gas major Santos is hoping to take an investment decision on its $155-million Moomba carbon capture and storage (CCS) project, in the Cooper basin, in the second half of this year. Speaking at the company’s annual general meeting, CEO Kevin Gallagher said that the Moomba project would... 

Remus sets its cap for FAR

By: Esmarie Iannucci     14th April 2021 ASX-listed FAR on Wednesday flagged a potential takeover offer from Remus Horizons. The company told shareholders that it had received a letter from Remus stating its intentions to make a 2.1c a share offer for all the shares in FAR, condition only on shareholders rejecting the sale of the... 

Woodside still on the CEO hunt

By: Esmarie Iannucci     13th April 2021 Oil and gas major Woodside on Tuesday confirmed that CEO Peter Coleman would retire from the company on June 3 this year. The company last year flagged Coleman’s departure during the second half of 2021, after serving ten years at the helm of the ASX-listed company.  

Santos incentivises Gallagher to stay put

By: Esmarie Iannucci     12th April 2021 Oil and gas major Santos has awarded CEO and MD Kevin Gallagher a A$6-million incentive to remain at the company’s helm until 2025. The company on Monday confirm that the board had agreed to a once-off growth projects incentive to ensure that Gallagher would see through the delivery of Santos’... 

Govt unveils oil and gas changes

By: Esmarie Iannucci     8th April 2021 The federal government has approved a suite of measures to enhance and strengthen Australia’s offshore oil and gas decommissioning framework. The measures were developed as part of consultation on the Offshore Oil and Gas Decommissioning Review in December and January, and include strengthening... 

Govt unveils oil and gas changes
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