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Oil and Gas News

Metgasco fields offer from Melbana

By: Esmarie Iannucci     15th July 2019 ASX-listed Metgasco on Monday urged shareholders not to take any action around an unsolicited conditional takeover offer from fellow-listed Melbana Energy. Melbana has announced plans to make an all-script conditional takeover offer for Metgasco, under which it would offer four of its own... 

IEA sees oil market oversupplied in 2019 on US production

By: Reuters     12th July 2019 Surging US oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said on Friday. The forecasts appear to predict the need for producer club Opec and its allies to reduce production to balance... 

Aerial survey for Arctic oil scrapped amid risks to polar bears

By: Bloomberg     12th July 2019 A company abandoned plans to conduct an aerial survey of potential oil in the Arctic National Wildlife Refuge following stern warnings from US government scientists the work could harm polar bears. The risk to polar bears “is high enough that it cannot be discounted", Interior’s Fish and... 

Another domestic gas deal struck on east coast

By: Esmarie Iannucci     12th July 2019 ASX-listed Cooper Energy has signed a new gas supply agreement for 6.7 PJ of gas from its Sole project over a three year period, starting in January next year. The agreement with packaging and resource recovery company Visy, can be extended for a further three years. 

Indian State-run companies drop investment plans in Adani’s LNG terminal project

By: Ajoy K Das     9th July 2019 Indian State-run oil refiner-marketer Indian Oil Corporation (IOC) and gas infrastructure and logistics major GAIL India have passed up the option to pick up a 50% stake in a liquefied natural gas (LNG) terminal project proposed by the Adani Group in the eastern coastal state of Odisha. Indian... 

Construction starts on Project Atlas pipeline

By: Esmarie Iannucci     8th July 2019 Construction has started on the Project Atlas pipeline, in Queensland, energy infrastructure developer Jemena has announced. Project Atlas is the first acreage in Australia designated solely to supply gas to the domestic market, and includes a 40 TJ/d natural gas processing facility and a 60-km... 

Further intervention on the cards for oil, gas sector

By: Esmarie Iannucci     5th July 2019 The Australian Petroleum Production and Exploration Association (Appea) has warned the federal government that market intervention could adversely affect confidence in the oil and gas sector, and could discourage new entrants and supply diversity. The warning comes after a South Australian minor... 

Further intervention on the cards for oil, gas sector

AfriForum, TKAG win appeal to set aside petroleum exploration, production regulations

By: Simone Liedtke     4th July 2019 AfriForum and the Treasure the Karoo Action Group (TKAG) have succeeded in their appeal to have Mineral Resources and Energy Minister Gwede Mantashe, and Environment, Forestry and Fisheries Minister Barbara Creecy set aside the regulations on petroleum exploration and production. The regulations... 

Oil, gas contributes to declining investment in Canada’s mining industry

By: Tasneem Bulbulia     4th July 2019 Ten of the 15 nongovernment sectors that make up the Canadian economy experienced declines in business investment from 2014 to 2017, the most recent years of available data. Independent Canadian public policy think-tank, the Fraser Institute, on Wednesday revealed that the country’s mining... 

APLNG signs more domestic offtake

By: Esmarie Iannucci     4th July 2019 The project partners of the Australia Pacific liquefied natural gas (APLNG) project on Thursday announced that an additional 16.2 PJ of natural gas produced at the project would be set aside for domestic customers. APLNG will supply explosives manufacuter Orica with 10.2 PJ of gas over a... 

Vedanta to invest $245m on Indian oil, gas blocks

By: Ajoy K Das     4th July 2019 Anil Agarwal-led resource major Vedanta Limited will invest around $245-million in natural gas and crude oil over the next four years in licenses it bagged for 10 blocks across India. Vedanta said in a statement that “the company has been successfully awarded 10 exploration blocks across Indian... 

Burrup Hub set to deliver billions in benefits

By: Esmarie Iannucci     3rd July 2019 The A$40-billion Burrup Hub development proposed by oil and gas major Woodside could boost Australia’s gross domestic product (GDP) by some A$414-billion during 2019-2063, new data from economic consultants ACIL Allen has shown. Woodside COO Meg O’Neill noted the project could deliver total... 

Burrup Hub set to deliver billions in benefits

Qld releases more gas exploration acreage

By: Esmarie Iannucci     3rd July 2019 The Queensland government has awarded Authority to prospect (ATP) for gas on more than 1 510 km2 of land in the Surat Basin, paving the way future gas supply in the region. Natural Resources, Mines and Energy Minister Dr Anthony Lynham on Wednesday awarded the ATP’s to a joint venture (JV)... 

Oil plunges in worst reaction to Opec since 2014 on demand woes

By: Bloomberg     2nd July 2019 Oil had its worst reaction to an Opec meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount. Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after an Opec... 

Australian govt releases hydrogen strategy papers

By: Esmarie Iannucci     2nd July 2019 The federal government has released consultation papers on a National Hydrogen Strategy, aimed at opening up export markets in Asia. Resources Minister Matt Canavan this week said the nine issue papers developed by the Council of Australian Governments’ (COAG’s) Energy Council covered the... 

Australian govt releases hydrogen strategy papers

Iron-ore drives Australian resource export earnings to a record A$275bn

By: Esmarie Iannucci     1st July 2019 Higher iron-ore prices have helped to drive Australia’s resource export earnings to a record A$275-billion in the 2018/19 financial year, with export earnings expected to hit A$285-billion in 2019/20, data from the latest Resources and Energy Quarterly shows. Chief economist Mark Cully on Monday... 

Iron-ore drives Australian resource export earnings to a record A$275bn

Opec+ is close to finalising a charter for long-term cooperation

By: Bloomberg     30th June 2019 Opec+ nations are close to finalizing a “charter” for a long-term alliance, with a document likely to be signed as soon as this week, said two delegates. Members of the group received a revised draft of the document on Sunday that appeared to have broad support, one of the delegates said, asking... 

India halts Iranian crude oil imports amid US assurances on supplies

By: Ajoy K Das     28th June 2019 India has ended crude oil imports from Iran, following the US administration’s assurance of adequate supplies to meet the country’s import-dependent energy needs. While there has not been any official confirmation that crude oil imports from Iran have ceased, sources said that government-owned... 

Australia’s Oil Search ups stake in Alaska field

By: Esmarie Iannucci     28th June 2019 ASX-listed Oil Search will spend $450-million to double its interest in the Pikka Unit Nanushuk oil field, in Alaska. Oil Search in February last year completed a $400-million acquisition of a 25.5% interest in the Pika Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe... 

Barossa JV nears Darwin LNG deal

By: Esmarie Iannucci     27th June 2019 Oil and gas major Santos on Thursday announced that the Barossa joint venture (JV), in which it owns a 25% interest, has entered into exclusive negotiations with the Darwin liquefied natural gas (LNG) JV, for the supply of backfill gas. Santos is also a JV partner in Darwin LNG with an 11.5%... 

‘Platinum Valley’ SEZ in three months – Patel 

By: Martin Creamer     26th June 2019 The legal entity for the Bojanala Platinum Valley Special Economic Zone (SEZ) in North West, which already has an investment pipeline in place, will be set up in the next three months, Trade and Industry Minister Ebrahim Patel promised on Tuesday evening. Fuel cell development is listed as the... 

‘Platinum Valley’ SEZ in three months – Patel
Photo by Creamer Media's Dylan Slater
Trade and Industry Minister Ebrahim Patel

South Africa working on new oil, gas policy to enable growth 

By: Bloomberg     26th June 2019 South Africa is working on a policy to govern the development of oil and gas resources after calls by potential investors to shield the industry from a long-running debate over laws that apply to mining exploration. The finalising of oil legislation has become more urgent since Total announced... 

South Africa working on new oil, gas policy to enable growth
Mineral Resources and Energy Minister Gwede Mantashe

Glencore cuts out agents and dealmakers as scrutiny grows 

By: Bloomberg     25th June 2019 Glencore is cutting out many of its intermediaries – the agents and dealmakers once essential to cracking the toughest markets – amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading... 

Oil steadies as Iran tensions mingle with economic concerns

By: Bloomberg     25th June 2019 Oil steadied after rallying almost 8% in three days as investors weighed the risks of a supply disruption in the Middle East against concerns over the global economy and demand. Futures were little changed near $58/bl in New York. President Donald Trump imposed sanctions on Iran’s supreme leader,... 

Nigerian court adjourns Oando case against securities regulator to 22 July

By: Reuters     24th June 2019 A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

India plans incentives for oil, natural gas E&P investors

By: Ajoy K Das     24th June 2019 The Indian government is planning to frame an incentive policy for oil and natural gas exploration and production (E&P) companies. The new policy will incorporate some of the financial incentives discontinued earlier, and the sops extended to E&P companies, even if they fail to bring exploratory... 

ONGC to outsource discovered small oil, gas fields while retaining ownership

By: Ajoy K Das     24th June 2019 In a bid to circumvent government plans to take away its discovered small fields (DSFs), national oil and natural gas exploration and production (E&P) major ONGC has decided to auction such assets under production enhancement contracts, while retaining ownership with itself. Company sources said... 

Santos eyes solar power in South Australia

By: Esmarie Iannucci     19th June 2019 Oil and gas major Santos will introduce solar panels to help power its Port Bonython processing plant, in South Australia. The ASX-listed company told shareholders that the 2.12MW ground-mounted solar photovoltaic system would generate more than 2 GWh of emissions-free energy a year, which... 

Trudeau approves Trans Mountain pipeline expansion

By: Bloomberg     19th June 2019 Prime Minister Justin Trudeau’s government decided Tuesday to proceed with the construction of a major crude oil pipeline, saying the project has met strict requirements on safety and consultation with Canadian indigenous groups. Trudeau’s Cabinet approved the expansion of Trans Mountain, a... 

Trudeau approves Trans Mountain pipeline expansion

India national Budget likely to scrap import duty on LNG

By: Ajoy K Das     18th June 2019 The Indian government is considering scrapping an import duty on liquefied natural gas (LNG) in the forthcoming Budget to be presented before Parliament next month. Government officials say that the Petroleum and Natural Gas Ministry has made a strong pitch for reducing the current LNG import... 

QRC warns of higher gas prices

By: Esmarie Iannucci     17th June 2019 The Queensland Resources Council (QRC) has warned that the 2.5% increase in gas royalties would likely be passed on to consumers, as Premier Annastacia Palaszczuk fended off calls to delay the royalty hike. “It was a Labor government that set up the liquefied natural gas (LNG) industry in this... 

Senex signs A$50m deal over Roma North

By: Esmarie Iannucci     17th June 2019 Gas developer Senex Energy has struck a A$50-million infrastructure deal with energy infrastructure operator Jemena under which it will divest of its Roma North processing facility and pipeline. Under the terms of the agreement, Jemena will take ownership of the facility and pipeline on the... 

Senex signs A$50m deal over Roma North

QRC hoping for a stay on gas tax

By: Esmarie Iannucci     14th June 2019 The Queensland Resources Council (QRC) has called on the Queensland government to delay the 2.5% increase in gas royalties until January 2020. During the state Budget earlier this week, the government revealed a surprise hike in the petroleum royalty rake, taking it from 10% to 12.5% with the... 

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Platinum mine truck being converted to run on hydrogen 

By: Martin Creamer     13th June 2019 Early research and development work has begun to pave the way for the introduction of hydrogen fuel cell electric trucking at a local platinum mine, Mining Weekly Online can today report. A truck is currently being converted to run on hydrogen, which will initially be brought to the mine in tankers. 

Platinum mine truck being converted to run on hydrogen
Inner workings of platinum-catalysed hydrogen fuel cell

Petronet LNG completes expansion of Dahej terminal

By: Ajoy K Das     12th June 2019 India’s biggest natural gas importer, Petronet LNG Limited (PLL), has completed the expansion of its liquefied natural gas (LNG) terminal at Dahej in the western state of Gujarat and is a step closer towards increasing its inward shipment of LNG during the financial year by 15%. In a statement... 

Oil demand signals are flashing red as price dives toward $50

By: Bloomberg     12th June 2019 Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from... 

Erratic weather boosts energy demand, denting climate goals – BP 

By: Reuters     11th June 2019 Extreme temperatures around the globe drove a sharp acceleration in energy demand and carbon emissions last year, oil giant BP said on Tuesday, issuing a stark warning that the world risks losing the battle against climate change. And while 2018 saw another sharp pick up in renewable power such... 

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