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Oil and Gas News

ACCC clears Ironbark sale

By: Esmarie Iannucci     23rd May 2019 The Australian Competition and Consumer Commission (ACCC) this week said that it would not oppose the A$231-million sales agreement between Australia Pacific liquefied natural gas (APLNG) and ASX-listed Origin. The two parties in February struck an agreement under which APLNG, in which Origin... 

LSE says, hello, Africa! Come list with us

By: Bloomberg     22nd May 2019 It’s not often that the LSE comes to Africa looking for listings. Traditionally companies based on the continent have to make a strong case to have their stock traded on one the world’s biggest bourses. But this week, officials are on roadshow in a bid to boost the LSE’s 115 African listings. The... 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

Santos buys into PNG’s P’nyang field

By: Esmarie Iannucci     16th May 2019 Australian oil and gas major Santos has struck a $187-million deal to acquire a 14.3% interest in the petroleum retention licence 3, which contains the P’nyang natural gas field in Papua New Guinea (PNG). The P’nyang gas field forms part of the plans to expand the PNG liquefied natural gas project. 

Santos buys into PNG’s P’nyang field

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Global energy investment out of step with security of supply, climate needs  

By: Terence Creamer     14th May 2019 A new report on global energy investment in 2018 points to an ongoing misalignment between approved expenditure on new fuel and power projects and meeting the twin goals security of supply and decarbonisation. The International Energy Agency’s (IEA’s) ‘World Energy Investment 2019’ report,... 

Global energy investment out of step with security of supply, climate needs
IEA executive director Fatih Birol

Cairns’ exploratory drilling in southern India triggers political storm in election season

By: Ajoy K Das     14th May 2019 Cairns Oil & Gas, an arm of London-headquartered Vedanta, has been granted approval to conduct an environmental impact assessment (EIA) for oil and gas exploration in the southern states of Tamil Nadu and Puducherry, triggering a political storm in this election season. The Indian government gave... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique 

By: Terence Creamer     13th May 2019 South Africa is failing to fully grasp the energy and economic significance of the impending development of the enormous gas reserves discovered in northern Mozambique since 2010, Standard Bank oil and gas specialist Paul Eardley-Taylor argues. Between 150- to 200-trillion cubic feet of gas has... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique

Santos inks more Narrabri supply MoUs

By: Esmarie Iannucci     9th May 2019 Australian oil and gas major Santos has inked additional nonbinding memoranda of understanding (MoU) for gas supply from its proposed Narrabri gas project, in New South Wales. Under the proposed transactions, Santos would supply building material manufacturer Brickworks with up to 3 PJ/y of... 

Indian crude oil import dependency surges to 84%

By: Ajoy K Das     9th May 2019 Rising consumption and falling domestic production has increased India’s crude oil import dependency to 83.7% during 2018/19, compared with 82.9% during previous financial year, data from Petroleum and Natural Gas Ministry has showed. Despite Prime Minister Narendra Modi’s ostensible target to... 

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Worley creating a force for the future of resources and energy
Photo by Creamer Media Chief Photographer Dylan Slater
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.

Agri SA launches court proceedings against granting of shale gas exploration rights

By: Simone Liedtke     7th May 2019 Agricultural organisation Agri SA has launched court proceedings in the Pretoria High Court against the granting of environmental authorisations and explorations rights for shale gas to Africa-focused oil and gas exploration and development company Rhino Oil and Gas. Although the authorized... 

Anadarko accepts Occidental bid; Chevron may now respond

By: Bloomberg     7th May 2019 Anadarko Petroleum’s board has declared Occidental Petroleum’s sweetened $38-billion takeover “superior,” giving Chevron until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four years. The announcement by Anadarko, which had rebuffed several prior... 

Total to buy Anadarko’s Africa assets for $8.8bn if Occidental bid succeeds 

By: Simone Liedtke     6th May 2019 French integrated oil and gas company Total has reached a binding agreement with Occidental Petroleum to acquire Anadarko’s assets in Africa for $8.8-billion in the event of the successful completion of Occidental’s takeover bid for Anadarko. The transaction hinges on Occidental entering into and... 

Total to buy Anadarko’s Africa assets for $8.8bn if Occidental bid succeeds

Top oil buyers rue global chaos bringing back seller's market

By: Bloomberg     6th May 2019 The world’s biggest oil buyers are being forced to go on the defensive once again. US President Donald Trump’s sanctions on Iran and Venezuela, the Opec+ coalition’s output curbs, and disruptions from Nigeria to Libya are all handing crude sellers the upper hand in negotiations. With refiners in... 

Arctic nations to meet amid tensions over environment, resources

By: Reuters     6th May 2019 Top diplomats from the US, Russia and other nations which border the Arctic meet in Finland on Monday to discuss policies governing the polar region, as tensions grow over how to deal with global warming and access to mineral wealth. Countries have been scrambling to claim territory or, like... 

Arctic nations to meet amid tensions over environment, resources

Eni to focus on saving African forests to offset CO2 emissions

By: Bloomberg     3rd May 2019 Eni's plan to offset emissions from its oil and gas operations will focus on working with African communities to prevent deforestation. The project is part of the Italian energy giant’s goal of removing the equivalent of 20-million tons a year of carbon dioxide (CO2) from the atmosphere by 2030.... 

FAR raises A$45m for Senegal exploration

By: Esmarie Iannucci     2nd May 2019 Africa-focused oil and gas explorer FAR will raise A$45-million through a share placement to sophisticated and institutional investors, to fund its ongoing interest in the SNE field development, offshore Senegal. The company would be placing more than 818.8-million shares, at a price of 5.5c... 

Senex secures more offtake at Project Atlas

By: Esmarie Iannucci     1st May 2019 ASX-listed Senex Energy has inked another offtake agreement at its Project Atlas development, in Queensland. Under an initial two-year agreement signed with packaging manufacturer Orora, Senex will supply 1.1 PJ of natural gas, starting in January 2020, and 2.2 PJ starting in January 2021.  

Buffett invests $10bn in Occidental for Anadarko bid

By: Bloomberg     30th April 2019 Warren Buffett’s Berkshire Hathaway will invest $10-billion in Occidental Petroleum to help the oil producer in its $38-billion bid for Anadarko Petroleum. Berkshire will receive 100 000 shares of preferred stock in Occidental, according to a statement Tuesday. Buffett’s intervention, which is... 

Origin's revenue soars on higher oil price

By: Esmarie Iannucci     30th April 2019 Energy major Origin Energy has seen a 53% jump in its liquefied natural gas (LNG) revenues in the three months to March, compared with the previous corresponding period, driven by higher oil prices. Origin reported production of 63.3 PJ of LNG from its 37.5% share in the Australia Pacific LNG... 

Petronet applies to construct new LNG terminal

By: Ajoy K Das     30th April 2019 ndia’s Petronet LNG Limited has proposed constructing a liquefied natural gas (LNG) floating storage regasification unit (FSRU) in Andaman and Nicobar Islands. It has submitted an application to sector regulator Petroleum and Natural Gas regulatory Board (PNGRB), proposing the establishment of... 

NSW backs A$250m Port Kembla LNG project

By: Esmarie Iannucci     29th April 2019 The New South Wales government has backed plans for the development of the A$250-million Port Kembla gas terminal being developed by the Australian Industrial Energy (AIE) consortium. The proposed terminal will have the ability to supply more than 100 PJ/y of liquefied natural gas (LNG),... 

NSW backs A$250m Port Kembla LNG project

India’s Iranian gas investments buried by US sanctions

By: Ajoy K Das     26th April 2019 India’s plan to develop natural gas assets in Iran has been buried in the wake of the US administration’s withdrawal of exemption from sanctions for trade in crude and natural gas with the Persian Gulf nation. A consortium, led by ONGC had held protracted negotiations with Iran since 2002 to... 

Indian government issues supply assurances to domestic oil refineries

By: Ajoy K Das     26th April 2019 In the wake of the end of sanction waivers by the Trump administration for imports of Iranian crude oil, India’s Petroleum and Natural Gas Ministry has officially issued assurances to all domestic refineries that the government will ensure adequate supplies. “The government has put in place a... 

Stable oil price drives investment in burgeoning African oil, gas sector

By: Nadine James     25th April 2019 Africa is likely to experience continued oil and gas investment over the next three to five years as the stabilisation of crude prices above $60/bl, coupled with the continent’s rapidly expanding population, lure oil producers to one of the last remaining energy investment frontiers, Standard... 

Stable oil price drives investment in burgeoning African oil, gas sector

ExxonMobil acquires more exploration acreage off Namibian coast

By: Nadine James     25th April 2019 US oil giant ExxonMobil will increase its exploration acreage in Namibia by about 28 000 km2 following the signing of an agreement with the Namibian government and State-owned National Petroleum Corporation of Namibia (Namcor) for blocks 1710 and 1810, and farm-in agreements for blocks 1711 and... 

Renergen publishes prospectus for proposed ASX listing

By: Creamer Media Reporter      24th April 2019 AltX-listed alternative and renewable energy business Renergen has, ahead of its planned listing on the ASX in May, announced a further increase in reserves at its subsidiary Tetra4’s Virginia project, in South Africa’s Free State province. The company, which on Wednesday published its prospectus... 

Occidental makes Anadarko bid, seeks to derail Chevron deal

By: Bloomberg     24th April 2019 Occidental Petroleum is starting a bidding war for Anadarko Petroleum, making a $38-billion counteroffer in attempt to break up the proposed takeover by Chevron. Occidental said Wednesday it’s offering $76 a share in cash and stock, a premium of about 20% over Chevron’s April 12 agreement to buy... 

India’s oil imports to surge on US actions

By: Ajoy K Das     24th April 2019 The US administration’s decision to end sanction waivers for Iranian oil imports by India and seven other countries will trigger a surge in India’s oil import bill even as it scurries to secure new energy sources. The government’s preliminary estimates for 2018/19 estimate the Indian oil import... 

Sasol reports stabilisation in synfuels output  

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

Woodside holds firm in the March quarter

By: Esmarie Iannucci     18th April 2019 Oil and gas major Woodside has reported steady production in the three months to March, compared with the previous corresponding period, with revenues rising 4%. Woodside on Thursday reported a production of 21.7-million barrels of oil equivalent, compared with the 22.1-million barrels in the... 

Santos output climbs in first quarter

By: Esmarie Iannucci     17th April 2019 Oil and gas major Santos has reported a 16% increase in production during the first quarter of 2019, compared with the fourth quarter of 2018, despite the Western Australian operations being impacted by cyclone activity, and facility outages in the Cooper Basin. Production volumes for the three... 

Senex seals domestic gas contract

By: Esmarie Iannucci     17th April 2019 ASX-listed Senex Energy has inked the first domestic gas sales supply contract at its Project Atlas development, in Queensland. Senex on Wednesday announced that it had agreed to a domestic gas sales agreement for up to 3.25 PJ of natural gas with fellow-listed CSR, which would use the gas in... 

Senex awards Surat basin drilling contract

By: Creamer Media Reporter      16th April 2019 Listed oil and gas company Senex will start its Surat basin gas drilling programme next month, after contracting services provider Easternwell. “This contract puts in place one of the final major elements for the delivery of our Surat basin natural gas project,” said MD and CEO Ian Davies in a... 

Santos makes significant offshore gas discovery at Corvus

By: Nadine James     16th April 2019 Energy company Santos on Tuesday announced the successful appraisal of the Corvus field, offshore Western Australia, with Corvus-2 confirming a significant gas resource in the Carnarvon basin. The company, which holds a 100% interest in the well 90 km north-west of Dampier, drilled to a total... 

India’s reformed oil, gas E&P policy to come into play in June/July

By: Ajoy K Das     15th April 2019 India’s reformed oil and gas exploration policy will come into force when the next round of bidding for blocks kicks off in June/July, the sector regulator has announced. “Parameters of the new policy reforms shall apply from Open Acreage Licensing Policy IV onwards,” a notification from the... 

Activists push South African pension funds to tally climate costs  

By: Bloomberg     15th April 2019 Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue. Shareholder activists Just Share and environmental law organisation ClientEarth... 

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