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Oil and Gas News
Mine haulage transition to electric offered without disruption 
By: Martin Creamer 1st July 2022 If the world were to electrify every mine truck, it would stop 198 000 t of carbon dioxide (CO2) a day from entering the atmosphere, which equates to a single electrified mining truck eliminating what would take 46 000 trees to absorb. That mammoth sustainability benefit was driven home firmly... →
Renergen strikes new gas blower named Gandalf, making progress on plant
By: Schalk Burger 30th June 2022 ASX- and JSE-listed natural gas and helium producer Renergen announced a new gas blower named Gandalf at its Virginia gas project, in South Africa’s Free State province, after gas was intersected at 480 m from surface with a flow rate of about 90 000 cubic feet a day. The target depth is 1 200 m,... →
EPA recommends North West Shelf extension
By: Tasneem Bulbulia 30th June 2022 The Western Australian Environmental Protection Authority (EPA) has recommended approval to increase the life of the North West Shelf (NWS) project, with key environmental conditions for the ongoing operations in the decades ahead. One of the conditions is to reduce greenhouse gas emissions from... →
G7 agrees to study Russian energy price caps
By: Reuters 28th June 2022 G7 leaders have agreed to study placing global price caps on imports of Russian energy to curb Moscow's ability to fund its invasion of Ukraine and to contribute up to $5-billion to address global food insecurity, officials said on Tuesday. The war in Ukraine and its dramatic economic fallout,... →
G7 to allow fossil-fuel financing if climate pledges are kept
By: Bloomberg 28th June 2022 Group of Seven (G7) nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue provided that the investments are consistent with prior climate-change agreements, according to people familiar with the matter. The final text of the leaders’ statement,... →
TNPA embarks on ambitious R9.1bn seven-year infrastructure development programme
By: Marleny Arnoldi 24th June 2022 Further to Transnet National Port Authority’s (TNPA’s) “reimagined” operational model, launched in November last year, and increased efficiency initiatives that are under way, the State-owned utility has announced it will spend R9.1-billion over the next seven years on capital projects in the... →
Strike secures an additional A$20m for Perth Basin
By: Esmarie Iannucci 23rd June 2022 ASX-listed Strike Energy has secured up to A$20-million in additional funding through a secured debt facility with Macquarie Bank to fund pre-development and development costs for its Perth Basin gas projects. The facility is structured in two tranches, with the first tranche of A$10-million... →
Woodside to face environmental group in court
By: Esmarie Iannucci 22nd June 2022 Oil and gas major Woodside will be facing the Federal Court of Australia in relation to the environmental assessment of its Scarborough project, in Western Australia, after the Australian Conservation Foundation (ACF) commenced proceedings. The ACF said on Wednesday that its case in the Federal... →
‘Jackpot’ oil discoveries may help Namibia double GDP by 2040
By: Bloomberg 21st June 2022 Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp of Namibia, said in a Bloomberg TV interview. TotalEnergies in February said it had made a “significant” oil discovery off the coast of... →
Green hydrogen’s business case significantly strengthened, summit hears
By: Martin Creamer 17th June 2022 Green hydrogen, when earlier identified as a necessary clean energy source to help the world achieve net-zero emissions in the coming decades, was higher up the cost curve than fossil fuels. Now that has changed with this week’s Financial Times Hydrogen Summit emphasising that green hydrogen’s... →
Chevron eyes $2.5bn investments in low-carbon hydrogen
By: Bloomberg 17th June 2022 Chevron plans to spend about $2.5-billion building up its hydrogen business this decade as the oil major accelerates investment in low-carbon technologies. Chevron will develop both green and blue hydrogen, said Austin Knight, vice president of hydrogen at the company’s New Energies unit. The... →
Beheadings show Islamist peril persists for Total in Mozambique
By: Bloomberg 16th June 2022 A fresh wave of attacks by an Islamic State affiliate in northern Mozambique has prompted the evacuation of the nation’s biggest solar power plant and threatens to further delay TotalEnergies' $20-billion liquefied natural gas project. Forces from Rwanda and a southern African regional bloc have... →
ESG provides profitable returns from smart capital allocation – analyst
By: Martin Creamer 15th June 2022 Environmental, social and governance (ESG) frameworks not only help businesses and the communities in which they operate but can also generate positive returns as mining companies reduce operating expenses and receive favourable investor interest and cheaper finance. When it comes to ESG, the... →
King faces backlash over Narrabri support
By: Esmarie Iannucci 15th June 2022 Newly appointed federal Resources Minister Madeleine King is facing backlash following her support of oil and gas major Santo’s controversial Narrabri gas development. In an interview with the Herald and The Age, King was quoted as saying that ‘critics of the project should accept the need for... →
Bass looks at Kiwi potential
By: Esmarie Iannucci 14th June 2022 ASX-listed Bass Oil will start a feasibility study to asses the commercial potential of the Kiwi gas discovery, which will be acquired from fellow-listed Beach Energy. Bass Oil and Beach earlier this year struck a A$650 000 deal allowing Bass to acquire a portfolio of Cooper Basin assets, which... →
Woodside solves supply chain conundrum with innovative design
By: Esmarie Iannucci 14th June 2022 Oil and gas major Woodside has helped to design a one-of-a-kind offshore caisson cleaning and inspection tool (CCAIT) that allows safe and cost-effective remote inspection of critical equipment on its offshore platforms. The system was designed, developed and deployed in less than 12 months via... →
Qld exports break records - QRC
13th June 2022 Queensland’s resource exports reached a record high of A$77-billion between March 2021 and March 2021, a report by the Queensland Resources Council (QRC) revealed last week. A State of the Sector report for the March 2022 quarter shows strong prices and increasing demand for Queensland... →
African oil, gas producers can help to create an inclusive energy transition, says McKinsey
By: Marleny Arnoldi 10th June 2022 Global management consulting firm McKinsey & Company says Africa’s oil and gas producing nations have the opportunity to embark on an inclusive energy transition and chart a course toward a sustainable future, amid a heightened focus on sustainability. “As the world looks to accelerate its... →
Minister to review ADGSM
By: Esmarie Iannucci 10th June 2022 Federal Resources Minister Madeleine King has announced a ‘urgent review’ of the Australian Domestic Gas Security Mechanism (ADGSM) to ensure its suitability. The announcement comes as electricity prices on Australia’s east coast surges following outages at a number of coal-fired power stations.... →
Firm part of offshore project
10th June 2022 Global leader and reference in heavy lifting and engineered transport Sarens, in a press release released in May, reaffirmed its position as an important partner in large-scale projects, citing its involvement in operations for oil and gas in Mozambique. Sarens was involved, in Maputo, on... →
AEMO ordered to store gas - Minister
By: Esmarie Iannucci 9th June 2022 Following the meeting of Energy Ministers this week, the federal government has tasked the Australian Energy Market Operator (AEMO) to source and store a strategic supply of gas. Speaking in interviews following the Energy Minister’s meeting, federal Climate Change and Energy Minister Chris... →
Windfall tax not on the cards - Minister
By: Esmarie Iannucci 8th June 2022 Federal Energy Minister Chris Bowen has reiterated that there would be no windfall tax against Australian gas companies amid the current energy crunch. The Australian Workers Union (AWU) on Wednesday called on the federal government to put a windfall tax on the table to ‘force multinational gas... →
Santos to invest A$360m in more gas
By: Esmarie Iannucci 8th June 2022 Oil and gas major Santos has announced a A$360-million investment to drill and connect more than 130 new production wells in the Fairview gas field, north of Roma. Work will start in June with first gas in October this year. →
Increased efficiency cuts carbon, advances net-zero path, research finds
By: Martin Creamer 8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) →
Gas and coal both required to stymie energy crunch, says Australia's King
By: Esmarie Iannucci 7th June 2022 Newly appointed Resources Minister Madeleine King is looking at Australian gas producers to increase supply to domestic markets, but has also noted that coal-fired power stations would be essential to combat Australia’s energy crunch in the short term. Speaking to ABC Radio, King applauded both... →
Woodside lists in London
By: Esmarie Iannucci 7th June 2022 Oil and gas major Woodside has been admitted to the London Stock Exchange, under the ticker WDS, just days after its shares started trading on the NYSE. Woodside recently completed completed the merger with diversified miner BHP’s petroleum business, creating a top 10 global independent energy... →
Santos looks to up Cooper basin output
By: Esmarie Iannucci 7th June 2022 Joint venture partners Santos and Beach Energy will work to boost gas supply from the Cooper Basin, bringing a fifth drilling rig into the basin and optimising well connections. Santos said this week that the programme of works was aimed at delivering an additional 15 terajoules of gas per day... →
Renergen nears financing close for Virginia gas’ Phase 2
By: Marleny Arnoldi 6th June 2022 JSE-listed emerging helium and natural gas producer Renergen has signed a retainer letter with the US International Development Finance Corporation (DFC) for a possible $500-million loan to finance the Phase 2 development of the company’s Virginia gas project, in the Free State province of South... →
Closely watched exploration well off Western Australia finds no gas, oil
By: Reuters 6th June 2022 Western Gas said on Monday its Sasanof-1 exploration well off Western Australia found no hydrocarbons, in a big disappointment for one of the most closely watched drilling campaigns in Australia this year. Ahead of drilling, the Sasanof prospect had been estimated by independent firm ERC... →
Woodside starts trading on NYSE
By: Esmarie Iannucci 2nd June 2022 Oil and gas major Woodside will start trading on the NYSE, under the ticker WDS, on Thursday. The New York listing followed Woodside completing the merger with diversified miner BHP’s petroleum business, creating a top 10 global independent energy company by hydrocarbon production and the... →
Converting truck fleets to LNG could reduce transport costs by 30% – Renergen
By: Darren Parker 1st June 2022 With diesel prices at a record high, liquefied natural gas (LNG) has the potential to lower the transportation costs of major logistics companies by up to 30%, LNG and helium developer Renergen CEO Stefano Marani said at the Junior Mining Indaba on June 1. “This means that the conversion of their... →
Santos signs gas deal in WA
By: Esmarie Iannucci 1st June 2022 Oil and gas major Santos has struck a new gas supply agreement with Western Australia’s Yara Pilbara Fertilisers to supply natural gas to its liquid ammonia plant on the Burrup Peninsula, in Western Australia. Santos will supply over 120 petajoules of natural gas over five years, starting at... →
Woodside completes BHP merger
By: Esmarie Iannucci 1st June 2022 The merger between oil and gas major Woodside Energy Group and diversified miner BHP’s petroleum assets have been completed. Woodside has acquired the entire share capital of BHP Petroleum International (BHPP) and issued more than 914.7-million new Woodside shares to BHP, which BHP will... →
Contracts for ‘emergency’ power procurement programme to be signed on June 2 
By: Terence Creamer 31st May 2022 Power purchase agreements arising from the much-delayed Risk Mitigation Independent Power Producer Procurement Programme will be signed on June 2, the Department of Mineral Resources and Energy revealed on Tuesday. The DMRE did not indicate whether all 11 projects would be signed, saying only... →
Oil powers to sixth monthly gain as EU set to curb Russian flows
By: Bloomberg 31st May 2022 Oil headed for the longest run of monthly gains in more than a decade as European Union (EU) leaders agreed to pursue a partial ban on imports of crude from Russia to increase pressure on Moscow for its invasion of Ukraine. Global benchmark Brent topped $122 a barrel, hitting a two-month high.... →
FAR weighing options for Gambian assets
By: Esmarie Iannucci 31st May 2022 ASX-listed FAR on Tuesday flagged a range of strategies to realise value. Chairperson Patrick O’Connor told shareholders at the company’s annual general meeting that FAR is undertaking a review to determine how best to realise value from its investment in Gambia. →
Commissioning of Renergen’s Virginia gas plant progressing smoothly
By: Darren Parker 30th May 2022 The commissioning of the Phase 1 plant at integrated energy company Renergen’s Virginia gas project, in the Free State, is progressing smoothly, the company announced on May 30. The company said the cooling systems had been fully commissioned, as had the nitrogen removal system to purify the helium. →
Shell approves $2.5bn Crux project
By: Esmarie Iannucci 30th May 2022 Energy major Shell and its joint venture (JV) partner SGH Energy have taken a final investment decision to approve the development of the Crux natural gas field, off the coast of Western Australia. Crux will provide further supplies of natural gas to the existing Prelude floating liquefied... →
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