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Oil and Gas News
Glencore in position to double copper output using fossil fuel cash flows 
By: Martin Creamer 8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... →
TotalEnergies may buy green power from Fortescue in Papua New Guinea -regulator
By: Reuters 8th December 2022 Fortescue Future Industries (FFI) is in talks with TotalEnergies to supply power to the fossil fuel company's Papua liquefied natural gas (LNG) project from a series of proposed renewable energy projects that a senior official says recently completed feasibility assessments. Both companies were... →
Nopsema weighing Barossa appeal fall-out
By: Esmarie Iannucci 7th December 2022 Australian Resources Minister Madeleine King will direct the National Offshore Petroleum Safety and Environmental Management Authority (Nopsema) to provide improved guidance to the oil and gas industry on consultation requirements following the Federal Court judgment in relation to the Barossa... →
Santos vows more returns to shareholders
By: Esmarie Iannucci 7th December 2022 Oil and gas major Santos on Wednesday announced a simplified capital management framework which would see a minimum of at least 40% of annual free cash flow returned to shareholders. The company said in a statement that the revised capital framework seeks to maintain an appropriate capital... →
Strike finds its own way to Warrego shareholding
By: Esmarie Iannucci 7th December 2022 While suitors Beach Energy and Hancock Energy have been in a bidding war over ASX-listed Warrego Energy, fellow listed Strike Energy has silently amassed a near 19.9% shareholding in the takeover target. Strike in November confirmed a confidential, non-binding indicative all-script merger... →
Renergen delivers first LNG to Ardagh Glass, Ceramic Industries
By: Darren Parker 6th December 2022 Natural gas and helium producer Renergen has announced the first of ongoing deliveries of liquefied natural gas (LNG) from Phase 1 of its Virginia gas project to glassmaker Ardagh Glass Packaging – previously Consol Glass – and Italtile subsidiary Ceramic Industries, following the completion of... →
Clough's collapse leaves more than $8bn in projects in limbo
By: Reuters 6th December 2022 More than $8-billion worth of gas, power, rail and mining projects across Australia, Mongolia and Papua New Guinea face delays following the collapse of engineering firm Clough on Monday. Projects that could be hit include the expansion of the Oyu Tolgoi copper mine in Mongolia, run by Rio Tinto,... →
Battle for Warrego Energy heats up
By: Esmarie Iannucci 5th December 2022 ASX-listed takeover target Warrego Energy has received an improved offer from suitor Hancock Energy, which has increased its offer price from 23c a share to 28c a share. The improved offer comes after ASX-listed Beach Energy at the end of last week increased its own takeover offer for Warrego... →
Gas cap will stunt investment - report
By: Esmarie Iannucci 2nd December 2022 An independent report by energy advisory firm EnergyQuest has warned that gas price caps would stifle new investment in domestic supply. The report, undertaken on behalf of the Australian Petroleum Production & Exploration Association (Appea) found a price cap would have substantial long-term... →
Woodside targets FID in Mexico next year
By: Esmarie Iannucci 2nd December 2022 Oil and gas major Woodside is working towards an investment decision at Trion, in the Gulf of Mexico, in 2023. Woodside noted during an investor briefing this week that the Trion project contains a resource of some 500-million barrels of 2C contingent resource, with Woodside planning a... →
Beach ups the ante in Warrego tussle
By: Esmarie Iannucci 2nd December 2022 Suitor Beach Energy has increased its takeover offer for ASX-listed Warrego Energy from 20c a share in cash to 25c a share in cash, beating a 23c a share bid from Gina Rinehart’s Hancock Energy. Beach Energy’s revised offer also included the distribution of any net proceeds received from the... →
Santos loses Barrossa appeal
By: Esmarie Iannucci 2nd December 2022 Oil and gas giant Santos has lost its appeal in the Full Federal Court against a September decision by the Federal Court to set aside the acceptance by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) of an environmental plan covering the drilling and... →
Talon raises cash as it takes stake in Mongolian project
By: Esmarie Iannucci 1st December 2022 Oil and gas explorer Talon Energy will raise A$12-million in a share placement and will acquire a 33% participating interest in a production sharing agreement over the Gurvantes coal seam gas project, in Mongolia. The ASX-listed Talon on Thursday announced that it would place some 85.7-million... →
Warrego looks to Beach for higher bid
By: Esmarie Iannucci 1st December 2022 Takeover target Warrego Energy is looking at suitor Beach Energy to increase its takeover offer, after deeming a competing bid from Hancock Energy to be a ‘superior proposal’. Hancock Energy on Wednesday announced an all-cash offer of 23c a share for all of the shares in Warrego, trumping a... →
Woodside brings Traditional Owners in on power project
By: Esmarie Iannucci 30th November 2022 Oil and gas major Woodside has entered into a bilateral Indigenous Land Use Agreement and a modern benefits-sharing and relationship agreement with the Ngarluma Aboriginal Corporation (NAC) over the proposed Woodside power project in the Pilbara. Woodside is currently investigating the supply of... →
Strong call for rapid green hydrogen investment by ramp-up backer
By: Martin Creamer 30th November 2022 A strong call for final investment decisions (FIDs) on a multiplicity of green hydrogen projects was made at the South Africa Green Hydrogen Summit in Cape Town yesterday by H2Global, a market ramp-up instrument that serves as an innovative form of subsidy scheme to smooth out bumps along green... →
Taking part in the South Africa Green Hydrogen Summit panel discussion are (from left to right) facilitator Lorato Tshenkeng, Timo Bollerhey, Till Mansmann, Sasol’s Gosiame Khoele, and Tobias Bischof-Niemz.
WA unlikely to be affected by Santos gas leak
By: Esmarie Iannucci 30th November 2022 The gas leak and subsequent shut-down of the John Brooks platform, offshore Western Australia, is not expected to impact gas supply to the state. Oil and gas major Santos this week announced the temporary shut-down of the platform, which is the main platform supplying the Varanus Island... →
Hancock makes a play for Warrego
By: Esmarie Iannucci 30th November 2022 Gina Rinehart’s Hancock Energy, which is a subsidiary of Hancock Prospecting, has made a competing bid for ASX-listed Warrego Energy. Hancock Energy on Wednesday announced an all-cash offer of 23c a share for all of the shares in Warrego, trumping a current 20c a share cash bid from ASX-listed... →
Woodside sets production targets, makes progress at Sangomar
By: Esmarie Iannucci 29th November 2022 ASX-listed Woodside Energy has set a production target of 180-million to 190-million barrels of oil equivalent for the 2023 financial year, with liquefied natural gas (LNG) production to make up between 83-million and 85-million barrels of oil equivalent. The company said on Tuesday that it... →
Meridian taps Woodside as hydrogen partner
By: Esmarie Iannucci 29th November 2022 New Zealand power company Meridian has tapped ASX-listed Woodside Energy as its preferred partner for the development stage of the Southern Green Hydrogen (SGH) project in New Zealand. Woodside was selected after an extensive competitive bidding process based on its capability and experience in... →
Santos reports gas leak and gas sales
By: Esmarie Iannucci 29th November 2022 Oil and gas major Santos has temporarily shut down the Jon Brookes platform, offshore Western Australia, after identifying a gas leak in a subsea flange. The company said on Tuesday that the observation of the leak occurred during routine activities on the normally un-staffed facility. The... →
Warrego continues to throw support behind Beach transaction
By: Esmarie Iannucci 28th November 2022 The directors of takeover target Warrego Energy on Monday confirmed that they would accept the takeover bid from fellow listed Beach Energy for their own shares in the company. Beach and Warrego earlier this month entered into a scheme implementation deed, under which Beach is offering 20c a... →
Nersa calls for comments on gas, renewable energy and hydrogen partnership strategy
By: Tasneem Bulbulia 28th November 2022 The National Energy Regulator of South Africa (Nersa) has invited stakeholders to provide written comments on the issues raised in the consultation document concerning the development of the strategy for a gas, renewable energy and hydrogen partnership in South Africa. The consultation document... →
Woodside answers Europe's energy call
By: Esmarie Iannucci 28th November 2022 Oil and gas major Woodside has expanded its liquified natural gas (LNG) trade to include Europe, with the ASX-listed company delivering gas from the North West Shelf to Uniper Global Commodities SE in Rotterdam. The cargo of approximately 75 000 t of LNG, or 100-million cubic meters of natural... →
Woodside commits another A$65m to community support
By: Esmarie Iannucci 24th November 2022 Oil and gas major Woodside has committed up to A$65-million in funding over the next five years to support community development in regional Western Australia. CEO Meg O’Neill said the social contribution would include new opportunities as well as extending current partnerships in the... →
Think tank warns of major investment losses
By: Esmarie Iannucci 22nd November 2022 Australia stood to lose some A$100-billion in investment in the resources sector if environmental activists were successful in their bid to halt gas developments in the country, independent think tank the Institute of Public Affairs (IPA) said. “At the beginning of Australia’s Great Energy... →
Davies urges more investment as he takes a bow as Appea chair
By: Esmarie Iannucci 18th November 2022 Australian Petroleum Production and Exploration Association (Appea) outgoing chairperson Ian Davies has called for urgent investment into the oil and gas sectors, and legislative reforms. In his address to the Appea annual general meeting, Davies said that the gas shortages and rising energy... →
COP27 draft leaves out pledge to phase down all fossil fuels
By: Bloomberg 17th November 2022 Countries negotiating at the climate summit in Egypt are on track to reject calls for phasing down the use of all fossil fuels, snuffing efforts by India and key developed nations to target oil and gas as well as coal in an overarching deal at COP27. The Egyptian presidency published the first... →
Strike states its case in Warrego tussle
By: Esmarie Iannucci 15th November 2022 ASX-listed Strike Energy has made the case for its own offer for takeover target Warrego Energy, saying a merger between the two companies would create a premier listed Peth Basin pure play with a progressive sustainable development strategy across gas, fertilisers and renewables. Strike last... →
Beach makes a backed play for Warrego
By: Esmarie Iannucci 14th November 2022 ASX-listed energy major Beach has usurped fellow listed Strike Energy’s play for junior Warrego Energy. Strike last week confirmed that it had submitted a confidential, non-binding indicative all-script merger proposal to the Warrego board, offering 0.714 of its own shares for each Warrego share... →
Govt not considering mining tax - Albanese
By: Esmarie Iannucci 11th November 2022 Australian Prime Minister Anthony Albanese said on Friday that while a price cap on gas was still on the table to help reign in electricity prices on the east coast, the government was not considering a mining tax. Responding to questions from the 2GB programme, Albanese said a price cap on gas... →
Nopsema gets new boss
By: Esmarie Iannucci 11th November 2022 Experienced national regulator Sue McCarrey has been appointed CEO of the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for a three-year term from February 2023. Minister for Resources and Northern Australia Madeleine King said McCarrey’s expertise as a... →
Volatile prices present opportunities for exporters
By: Cameron Mackay 11th November 2022 Africa has significant oil and gas resources that can help accelerate growth on the African continent if used strategically, and while new resources are discovered progressively, they are not distributed equally, with 38 out of 53 African countries being net oil importers, says research company... →
Independents bullish on oil and gas outlook in Nigeria
By: Cameron Mackay 11th November 2022 The Petroleum Industry Act (PIA) – implemented in Nigeria last August – provides an ideal regulatory framework for the industry, as well as opportunities for smaller oil and gas companies, such as Nigerian oil and gas company Zigma, to become more involved in the industry, says Zigma founder and... →
Climate projections again point to dangerous 2.7 °C rise by 2100
By: Bloomberg 10th November 2022 The research partnership Climate Action Tracker (CAT) on Thursday released its latest projections of how greenhouse gas emissions may dangerously raise the global average temperature. The result is similar to last year’s – a troubling 2.7 °C increase above preindustrial levels if policies don’t... →
Projections for global temperature increase by 2100 above preindustrial levels based on targets and announcements from COP27.
Origin facing A$9 a share takeover offer
By: Esmarie Iannucci 10th November 2022 Energy major Origin Energy has received a A$9 a share non-binding indicative takeover offer from a consortium, which included Brookfield Asset Management and MidOcean Energy, valuing the company at A$18.4-billion. Under the proposed offer, Brookfield would ultimately acquire Origin’s Energy... →
Renergen changes mind on capital raise
By: Esmarie Iannucci 9th November 2022 Australian and Johannesburg-listed Renergen has urged the Australian bourse to resume its share trading while it looks for a leak. The company’s shares were placed in a trading halt on the ASX this week after a report in the Australian Financial Review stated that Renergen was planning a near... →
World’s carbon dioxide hotspots pinpointed by Al Gore-backed climate project
By: Bloomberg 9th November 2022 A consortium of dozens of research nonprofits on Wednesday launched a free online platform that details greenhouse gas emissions around the world across 20 economic sectors. Climate Trace, which can be viewed on a web browser, includes a zoomable world map that displays and ranks the dirtiest 72... →
Al Gore addressing delegates at COP27
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