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Oil and Gas News

Origin warns of impairment on electricity prices

By: Esmarie Iannucci     30th July 2021 ASX-listed Origin Energy has warned of a A$1.5-billion post tax impairment charge in the 2021 financial year, relating to its Energy Markets division and its generation assets. Furthermore, tax expenses of A$669-million will be reported relating to a deferred tax liability, reflecting the... 

Suncor cuts Fort Hills oil output guidance amid mine instability

By: Bloomberg     29th July 2021 Suncor Energy cut its full-year production guidance at its Fort Hills oil sands mine to between 45 000 bbl/d and 55 000 bbl/d from a previous 65 000 bbl/d to 85 000 bbl/d because of additional required work on the mine. Instability on the south side of the mine requires so-called overburden... 

Suncor cuts Fort Hills oil output guidance amid mine instability

Bayu-Undan beats expectations - Santos

By: Esmarie Iannucci     28th July 2021 Oil and gas major Santos on Wednesday reported that production from the Phase 3C infill drilling programme at the Bayu-Undan field had begun with the first well producing better than expected. The first well has been brought online at 178-million standard cubic feet per day of gas and 11 350... 

Oil Search on track for full year targets

By: Esmarie Iannucci     27th July 2021 ASX-listed Oil Search on Tuesday said that it was on track to achieve its full year production guidance, despite a decrease in production for the second quarter. Total production for the quarter was down to 6.58-million barrels of oil equivalent, from the 6.86-million barrels of oil equivalent... 

Anglo Platinum evaluating multiple renewable energy forms  

By: Martin Creamer     26th July 2021 As a result its geographic distribution across South Africa, the Anglo American group is collectively evaluating options to access multiple forms of renewable energy, Anglo American Platinum (Amplats) CEO Natascha Viljoen said on Monday. The JSE-listed company has already completed the design and... 

A side view of the Amplats CEO during the July 2021 results presenetation.
Anglo American Platinum presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Santos reports first oil from Van Gogh Phase 2

By: Esmarie Iannucci     26th July 2021 Oil and gas major Santos on Monday announced first oil from the Van Gogh Phase 2 infill development, with the first of three new production wells producing at the highest initial rate from an individual well in field history. Following completion and tie-in, the first well has produced at a peak... 

Japan shifting away from fossil fuels

By: Esmarie Iannucci     22nd July 2021 Australia’s supply of liquefied natural gas (LNG) and coal into Japan could face pressure as the Asian major introduced a draft Strategic Energy Plan, which sees non-fossil fuel power supply sources growing from 24% in 2019-20, to roughly 60% by 2030-31. Analyst S&P Global noted that the draft... 

Senex inks another offtake agreement

By: Esmarie Iannucci     22nd July 2021 ASX-listed Senex Energy has struck a long-term domestic gas sales agreement with fellow-listed construction materials and industrial minerals manufacturer Adbri. Under the terms of the agreement, Senex would supply up to 11 PJ of natural gas to support Adbri’s South Australian manufacturing... 

Santos posts record revenues

By: Esmarie Iannucci     22nd July 2021 Oil and gas major Santos has reported record sales revenue of $1.07-billion for the second quarter ended June, on the back of improved commodity prices and a strong operational performance. Production in the three months to June reached 22.5-million barrels of oil equivalent, down 9% on the... 

NSW gas plan blasted

By: Esmarie Iannucci     21st July 2021 The Australian Petroleum Production and Exploration Association (Appea) has warned that the New South Wales government’s Future of Gas Statement would effectively lock up most of the state from gas development, costing jobs and the economy. Deputy Premier John Barilaro unveiled the Future of Gas... 

Image shows an LNG production plant

Woodside takes part in Aus/Japan ammonia study

By: Esmarie Iannucci     21st July 2021 A joint feasibility study will be conducted into the development of a clean fuel ammonia supply chain from Australia to Japan. Australian energy major Woodside, along with Japan Oil, Gas and Metals National Corporation, Marubeni Corporation, Hokuriku Electric Power Company and the Kansai... 

BHP is said to mull oil exit as miner retreats from fossil fuels

By: Bloomberg     20th July 2021 BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter. The world’s biggest miner is reviewing its petroleum business and considering options including a trade sale, said... 

An image showing an oil rig at night

Senex reaches production plateau

By: Esmarie Iannucci     20th July 2021 ASX-listed Senex Energy has achieved its initial production plateau during the quarter ended June, with an annualised run rate of around 19 PJ/y. The company on Tuesday reported that production during the June quarter reached 4.7 PJ, which was in line with the 4.6 PJ produced in the previous... 

Seismic surveys safe for the environment - study

By: Esmarie Iannucci     20th July 2021 The Australian Petroleum Production and Exploration Association (Appea) has welcomed research by the Australian Institute of Marine Science (AIMS), which showed that marine seismic surveys used in oil and gas exploration are not affecting the abundance or behaviour of commercially valuable... 

Santos admits to merger talks with Oil Search

By: Esmarie Iannucci     20th July 2021 Oil and gas major Santos on Tuesday confirmed a failed bid to gain control of fellow listed Oil Search earlier this year. Oil Search yesterday revealed that it had received a confidential, non-binding indicated change of control proposal, which the company and its advisors had rejected, as it... 

Chevron's CCS plans at Gorgon falter

By: Esmarie Iannucci     19th July 2021 US energy major Chevron on Monday conceded that it had failed to capture sufficient greenhouse gas emissions at its Gorgon oil and gas project, and was now working with the Western Australian regulator to make-up the shortfall. Under the terms of the project’s approval, the Gorgon liquefied... 

Image shows the Gorgon plant infrastructure

Oil Search MD quits

By: Esmarie Iannucci     19th July 2021 ASX-listed Oil Search on Monday announced the resignation of MD Dr Keiran Wulff, citing health reasons and behavioral issues. Oil Search chairperson Rick Lee said that the board entered into discussions with Wulff following the receipt of recent concerns and complaints about his behavior,... 

Greenland scraps all future oil exploration on climate concerns

By: Bloomberg     16th July 2021 Greenland dropped all plans for future oil exploration on environmental grounds, saying the price of extraction was “too high". The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. While the decision to scrap planned... 

Greenland scraps all future oil exploration on climate concerns

Electronic gauges for hazardous areas

16th July 2021 Industrial electronics producer Instrotech is offering geotechnical solutions specialist Keller’s range of five intrinsically-safe electronic pressure gauges for use in areas subject to gas explosion risks. The type approvals are compliant with the ATEX explosion protection directive regarding... 

GEOTECH SAVVY 
Keller’s type LEO 1 Ei and LEO 2 Ei electronic pressure gauges feature microprocessor-assisted compensation
GEOTECH SAVVY Keller’s type LEO 1 Ei and LEO 2 Ei electronic pressure gauges feature microprocessor-assisted compensation

IEA report points to growth in global electricity demand this year

By: Donna Slater     15th July 2021 The International Energy Agency (IEA) expects global electricity demand to rebound strongly this year and next. Electricity demand decreased by about 1% in 2020, but is expected to grow by 5% this year and by 4% in 2022, a new IEA report shows.  

Chevron awards A$100m contract to Ventia

By: Esmarie Iannucci     15th July 2021 US energy major Chevron has awarded a A$100-million, ten-year long-term maintenance master contract to contractor Ventia for works in the Pilbara region. As Primary Maintenance Contractor, Ventia will deliver front-line and campaign maintenance, brownfield execution scopes and turnaround events... 

Woodside sees rise in revenue and sales

By: Esmarie Iannucci     15th July 2021 Oil and gas major Woodside has reported an increase in sales revenue for the quarter ended June, as sales volumes increased despite a slight decrease in production. Sales revenue for the second quarter was up 15% on the first quarter, reaching A$1.28-billion, with sales volumes up 9% on the... 

Bass strikes deal with Cooper Energy

By: Esmarie Iannucci     12th July 2021 ASX-listed Bass Oil has struck a A$650 000 deal with fellow listed Cooper Energy to acquire that company’s interest in a portfolio of Cooper Basin non-operated assets in South Australia. Bass Oil on Monday told shareholders that the transaction represented a unique opportunity for Bass to... 

WA miners contributed A$83bn to economy in 2019/20 - survey

By: Esmarie Iannucci     12th July 2021 A new survey by the Chamber of Minerals and Energy (CME) for Western Australia has found that the state’s mining, oil and gas, energy and contractor industries contributed a direct A$83-billion to Australia’s economy in 2019-20 and directly provided more than 94 000 full-time jobs. The survey... 

Appea calls for more exploration acreage

By: Esmarie Iannucci     9th July 2021 The Australian Petroleum Production and Exploration Association (Appea) has called for the release of more gas acreage to combat Australia’s high wholesale gas prices. Appea CEO Andrew McConville pointed to the results of the latest international survey of wholesale gas prices by the... 

Appea calls for more exploration acreage

Qld LNG export reaches record highs

By: Esmarie Iannucci     8th July 2021 Queensland has reported record annual liquefied natural gas (LNG) shipments from Gladstone for 2020-21, despite the impacts of the Covid-19 pandemic. Treasurer and Minister for Investment Cameron Dick said 23-million tonnes of LNG left Gladstone during the past financial year, a 3.72% increase... 

Qld LNG export reaches record highs

First Beetaloo grant awarded

By: Esmarie Iannucci     7th July 2021 The Australian government has announced the first grants under the A$50-million Beetaloo cooperative drilling program to help accelerate development of gas projects in the Northern Territory. Minister for Resources and Water Keith Pitt has said the three grants to Imperial Oil and Gas would... 

Woodside completes Senegal buy

By: Esmarie Iannucci     7th July 2021 Australian energy major Woodside Energy has completed the acquisition of fellow-listed FAR’s interest in the Rufisque offshore, Sangomar offshore and Sangomar deep offshore (RSSD) contract area, offshore Senegal. Woodside earlier this year exercised its pre-emptive rights over FAR’s interest in... 

Gold heading towards ‘refuge of choice’ status, says incoming AngloGold CEO  

By: Martin Creamer     6th July 2021 Gold is poised to be a "refuge of choice" in the years ahead owing to the extent to which money is being printed and world debt is rising, AngloGold Ashanti CEO-designate Alberto Calderon said on Tuesday. Speaking to Mining Weekly in a Microsoft Teams interview ahead of taking office on September... 

Newly appointed AngloGold CEO
AngloGold Ashanti CEO-designate Alberto Calderon interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Chevron takes A$6bn plunge at Gorgon

By: Esmarie Iannucci     2nd July 2021 US energy major Chevron has taken a final investment decision (FID) on the A$6-billion Jansz-Io Compression (J-IC) project at the Gorgon joint venture (JV). Chevron Eurasia pacific exploration and production president Nigel Hearne said J-IC represents Chevron’s most significant capital... 

Chevron takes A$6bn plunge at Gorgon

Govt calls for tenders on Northern Endeavour decommissioning

By: Esmarie Iannucci     1st July 2021 The federal government has released a Request for Expressions of Interest (REOI) for Phase 1 works to decommission the Northern Endeavour Floating Production Storage and Offtake (FPSO) facility. The federal government has been responsible for maintaining the Northern Endeavour and associated... 

Glencore paid governments $5.8bn, working hard to develop local skills

By: Martin Creamer     30th June 2021 As one of the world’s largest natural resource companies, with operations across five continents, Glencore is committed to delivering long-lasting socioeconomic benefits, CFO Steven Kalmin on Wednesday. Speaking on video with the release of Glencore's 2020 Payment to Governments Report, Kalmin... 

Glencore CFO Steven Kalmin
Photo by Creamer Media
Glencore CFO Steven Kalmin

Foundation drives development in Africa from ‘clean’ perspective

By: Marleny Arnoldi     29th June 2021 Climate change interventions have immense potential to unlock new development pathways on the African continent, which necessitates that climate change be brought to the forefront of development thinking and planning in Africa, says the African Climate Foundation (ACF). The foundation, during a... 

South African oil law seen unlikely to be approved until 2022

By: Bloomberg     29th June 2021 South Africa’s draft oil exploration and production law is unlikely to be finalized for at least another year, despite the government’s call for the legislation to be expedited. Parliamentary hearings and amendments to the Upstream Petroleum Resources Development Bill published earlier in June... 

Santos hunting for Dorado partner, launches FEED

29th June 2021 Oil and gas major Santos has launched the front-end engineering and design (FEED) for its Dorado project, in the Bedout Sub-basin, offshore Western Australia, and is seeking a partner to help develop the asset. Dorado is an integrated oil and gas project which is planned to be developed in two... 

Appea laments new NOGA levy

By: Esmarie Iannucci     29th June 2021 The Australian Petroleum Production and Exploration Association (Appea) has warned that a new A$0.48 per barrel levy on all offshore oil producers was ‘over the top’ and ‘extreme’. The Department of Industry, Science, Energy and Resources in May this year announced a possible temporary levy on... 

Appea laments new NOGA levy

House votes to reinstate Obama methane rule for oil, gas wells

By: Bloomberg     28th June 2021 The House voted Friday to rescind a Trump-era rule blocking the EPA from directly limiting oil industry emissions of the powerful greenhouse gas methane, a move that would restore requirements imposed by the Obama administration while freeing the agency to craft new more stringent rules for the... 

Iron-ore drives Aus exports to record highs

By: Esmarie Iannucci     28th June 2021 New data from the Office of the Chief Economist has estimated that Australia’s resources and energy exports would reach a record A$310-billion in 2020-21, with nearly half of the earnings coming from iron-ore alone. Exports are expected to increase further to A$334-billion in 2021-22, before... 

Iron-ore drives Aus exports to record highs
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