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Oil and Gas News

National oil companies lag on decarbonisation, but efforts are increasing

By: Tasneem Bulbulia     30th March 2022 Despite their scale, national oil companies (NOCs) have until now largely escaped the heavy scrutiny experienced by international oil companies (IOCs) around emissions, and partly as a consequence, the energy transition strategies of most NOCs significantly lag those of their IOC peers, says... 

AEMO report urges gas investment for future security

By: Esmarie Iannucci     30th March 2022 A new report by the Australian Energy Market Operator’s (AEMO) has shown that while Australia had sufficient gas supply to meet demand until 2033, new supply was needed. In its latest Gas Statement of Opportunities (GSOO), the AEMO has said the outlook for gas supplies has improved over the... 

Gas and clean energy gets federal funding

By: Esmarie Iannucci     30th March 2022 The federal government has set aside some A$1.3-billion of new investment in the 2022/23 Budget to maintain energy security, keep downward pressure on energy prices while reducing emissions. Minister for Industry, Energy and Emissions Reduction Angus Taylor said the measures would further... 

Africa has prime opportunity to provide commodities usually supplied by Russia

By: Marleny Arnoldi     29th March 2022 As Western Europe accelerates a structural transition away from Russian energy dependence, Africa will play a salient role in filling this void, says Oxford Economics Africa (OEA). During a webinar on March 29, the research company unpacked how a more pressing shift towards renewable energy and a... 

Carnarvon completes capital raise

By: Esmarie Iannucci     29th March 2022 Energy developer Carnarvon Energy has successfully completed it’s A$70-million capital raise a day after announcing it. Carnarvon said on Tuesday that more than 234.8-million shares will be issued at an offer price of 30c per share. 

Woodside advances solar ambitions

By: Esmarie Iannucci     29th March 2022 Oil and gas major Woodside has struck a deal with NYSE-listed Haliogen Inc for a commercial-scale demonstration project of Heliogen’s artificial intelligence (AI)-enabled concentrated solar energy technology, which will be built in Mojave, California. Woodside in October announced a... 

Renergen’s share price rises on CEF’s R1bn investment in the Virginia gas project 

By: Simone Liedtke     28th March 2022 The JSE share price of emerging integrated energy producer Renergen rose by more than 10% on March 28 after the company announced that the State-owned Central Energy Fund (CEF) would acquire a 10% interest in its Tetra4 subsidiary for R1-billion. The transaction remains subject to various... 

Renergen’s share price rises on CEF’s R1bn investment in the Virginia gas project

Pilot's hydrogen studies prove successful

By: Esmarie Iannucci     28th March 2022 Feasibility studies by ASX-listed Pilot Energy has confirmed the viability of developing a large-scale clean hydrogen production project in the Mid West region of Western Australia. Pilot Energy last year announced key studies to assess the feasibility and economics of, and to recommend the... 

Carnarvon raises cash for Dorado

By: Esmarie Iannucci     28th March 2022 ASX-listed Carnarvon Energy will raise A$70-million in a fully underwritten institutional placement to help finance the Dorado development and to progress its growth opportunities. The company on Monday said that it would issue 234.8-million shares, at a price of 30c each under its existing... 

FAR's MD to be replaced

By: Esmarie Iannucci     25th March 2022 Africa-focused oil and gas developer FAR this week announced that MD Catherine Norman had been given notice of termination, effective immediately, with Norman also resigning as a director of the company. “The time has now come for a fresh perspective to ensure the company explores every... 

World needs to double efforts to limit warming to 1.5 ºC by 2050 – WoodMac

By: Schalk Burger     24th March 2022 The world is facing its biggest challenge yet in its journey towards net-zero emissions and needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 °C above preindustrial levels by 2050, natural resources market research company Wood Mackenzie... 

Suncor’s troubled mining unit gains new leader from LNG Canada

By: Bloomberg     23rd March 2022 Suncor Energy tapped LNG Canada CEO Peter Zebedee to head its mining and upgrading operations as the oil sands producer grapples with a series of fatal accidents. Zebedee will join Suncor as executive vice president of mining and upgrading starting April 11. At LNG Canada, he spent almost three... 

Comet Ridge finds offtake partner at Mahalo

By: Esmarie Iannucci     23rd March 2022 Gas developer Comet Ridge has inked a memorandum of understanding (MoU) with Iro Resources for the supply of up to 5.5 PJ/y of gas from its Mahalo gas hub project, which will be used as feedstock for a proposed biofuel production facility, near Gladstone. The biofuel project is planned to... 

Santos discovers more resources near Dorado

By: Esmarie Iannucci     23rd March 2022 Oil and gas major Santos on Wednesday announced a significant discovery at the Pavo-1 exploration well, near its Dorado development, offshore Western Australia. The well was drilled on the northern culmination of the greater Pavo structure and encountered a 60-m gross hydrocarbon column in the... 

Parliaments must act swiftly to reduce climate change – Mapisa-Nqakula  

By: Martin Creamer     22nd March 2022 National Assembly speaker Nosiviwe Mapisa-Nqakula on Monday urged heads of the world's Parliaments gathering at the 144th plenary assembly of the Inter-Parliamentary Union to undertake all necessary efforts to deal with climate change through oversight and the constitutional powers of the... 

South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula
South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula

More gas investment needed - Minister

By: Esmarie Iannucci     22nd March 2022 Federal Industry, Energy and Emissions Reduction Minister, Angus Taylor, has called for more investment in the gas sector, warning that consumers could face higher prices and disruptions in supply. Speaking at the Australian Domestic Gas Outlook conference, in Sydney, Taylor pointed out that the... 

A$50.3m allocated to gas infrastructure

By: Esmarie Iannucci     22nd March 2022 The federal government will invest an additional A$50.3-million to accelerate priority gas infrastructure projects that will protect Australia from potential energy shortages, keep pressure on prices and create jobs in regional Australia as part of our plan for a stronger future. The additional... 

Image shows LNG plant

White House to meet with Exxon, other firms on Russia sanctions

By: Bloomberg     21st March 2022 President Joe Biden’s administration will brief banks, energy companies and other firms Monday on the impact of Russia’s invasion of Ukraine and ensuing sanctions. Treasury Secretary Janet Yellen, National Security Advisor Jake Sullivan and other top officials will host an off-record discussion... 

NOPSEMA approves Prelude restart

By: Esmarie Iannucci     21st March 2022 The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has cleared energy major Shell to resume operations at its Prelude floating liquefied natural gas (LNG) facility offshore Western Australia. The Prelude operation in early December last year experienced a... 

Govt backs Victorian gas supply

By: Esmarie Iannucci     21st March 2022 The Australian government will partner with the private sector to unlock gas resources in Victoria, in the hopes of bolstering domestic supply security. The federal government on Monday announced that it had finalised a A$32-million commercial loan with GB Energy to accelerate the Golden Beach... 

Senex marks the end of an era

By: Esmarie Iannucci     18th March 2022 ASX-listed Senex Energy will cease share trading at the end of business on Friday, after its takeover by Korean major POSCO International became legally effective. The Federal Court of Australia on Friday approved the scheme of arrangement, under which the K-A Energy 1 consortium would acquire... 

Woodside looks at CCU

By: Esmarie Iannucci     18th March 2022 Oil and gas major Woodside on Friday launched a carbon capture and use (CCU) collaboration with US-based technology developers ReCarbon and LanzaTech The three companies are jointly investigating the viability of a proposed CCU pilot facility in Perth, which would recycle greenhouse gases such... 

Energy costs set to reach record 13% of global GDP this year

By: Bloomberg     17th March 2022 Energy costs are poised to hit an all-time high of more than 13% of global gross domestic product this year as the price of keeping the world running surges. Primary energy expenditure as a share of output is set to double from 2021’s level of just 6.5%, according to analysis by consultancy... 

Esso approves A$400m gas investment

By: Esmarie Iannucci     17th March 2022 The Australian subsidiary of energy major ExxonMobil, Esso Australia, has taken a final investment decision on the development of additional gas from the Gippsland Basin Kipper field. The A$400-million investment is expected to deliver an additional 200 PJ of gas between 2023 and 2027, with... 

Image shows an LNG tanker

Glencore says world has to adapt to shift in commodity trade flows

By: Marleny Arnoldi     16th March 2022 Global commodity trade flows will have to adapt to some, or all, of Russia and Ukraine’s supply being unavailable, whether owing to infrastructure damage, sanctions or ethical concerns, says global diversified miner Glencore. Unpacking the main risks to its business in its 2021 annual report,... 

Standard Bank halts new coal-power funding, but backs gas as ‘transition fuel’  

By: Terence Creamer     16th March 2022 The Standard Bank Group has become the latest South African bank to confirm that it will no longer finance new coal-fired power plants or support the expansion of existing coal-fired power plants as part of its newly unveiled commitment to achieve net-zero carbon emissions from its portfolio of... 

Standard Bank Group Corporate and Investment Banking CEO Kenny Fihla
Standard Bank Group Corporate and Investment Banking CEO Kenny Fihla

Markets must adapt to lack of Russian, Ukrainian commodities, Glencore says

By: Reuters     16th March 2022 Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global miner and commodities trader Glencore said in its annual report on Wednesday. "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable,... 

Senex shareholders back POSCO play

By: Esmarie Iannucci     16th March 2022 The shareholders of takeover target Senex Energy this week voted in favour of a takeover by Korean major POSCO International, through its consortium K-A Energy 1, which is offering A$4.60 a share for each Senex share held. Senex this week said that more than 93% of votes cast by shareholders at... 

Ivanhoe invests initial R200m in Renergen to secure clean energy for Platreef 

By: Simone Liedtke     14th March 2022 Canadian miner Ivanhoe Mines has invested R200.6-million ($13.3-million) in South African natural gas and helium producer Renergen by buying more than 5.6-million Renergen shares, at R35.625 a share. The placement is within the company’s existing pre-approved placement capacity, and means that... 

Pic of Renergen's Virginia gas project, in South Africa's Free State.
Pictured is Renergen's Virginia gas project, in South Africa's Free State.

Bids submitted for offshore acreage - Minister

By: Esmarie Iannucci     14th March 2022 The federal government on Monday revealed that it had received ten bids for offshore petroleum exploration acreage in its latest acreage release. The National Offshore Petroleum Titles Administrator (NOPTA) is now assessing the bids for the 2021 Offshore Petroleum Exploration Acreage Release. 

Canada oil can help replace Russia crude imports to US – Suncor

By: Bloomberg     11th March 2022 Canada could supply the US with a third of the oil that the country usually imports from Russia in the wake of the Biden administration’s ban, Suncor Energy CEO Mark Little said.  Canadian oil executives speaking at CERAWeek by S&P Global on Tuesday excoriated the Biden administration for... 

Strong interest in offshore CCS opportunities - Appea

11th March 2022 Australian Petroleum Production & Exploration Association (APPEA) said this week that there has been strong interest in acreage releases for new carbon capture and storage (CCS) opportunities off Western Australia and the Northern Territory. Appea welcomed the opportunity for member companies to... 

Resource firms join CERT pilot

By: Esmarie Iannucci     11th March 2022 Resources firms Woodside, Santos, Fortescue and South32 were only a few of the companies that have signed up to the new Corporate Emissions Reduction Transparency (CERT) report pilot. The 25 signatories to CERT account for almost 26% of Australia’s Scope 1 annual greenhouse gas emissions... 

US energy secretary urges companies to boost oil, gas output

By: Reuters     10th March 2022 Any oil and gas company that can increase supply should do so quickly due to the growing energy crisis following Russia's invasion of Ukraine, US Energy Secretary Jennifer Granholm said on Wednesday. Russia exports roughly four-million to five-million barrels of crude a day, more than any other... 

An image of US Energy Secretary Jennifer Granholm
Energy Secretary Jennifer Granholm

Canada's oil, gas emissions cap may wait until 2023, leaving climate plan hole

By: Reuters     9th March 2022 Canadian Prime Minister Justin Trudeau's plan to cut greenhouse gas emissions from the oil and gas sector will not be ready until late this year or early 2023, the environment minister said on Tuesday, leaving a major hole in an emissions reduction plan due to be released by the government this... 

An image of Justin Trudeau
Canadian PM Justin Trudeau

East Coast gas demand to fall - Woodmac

9th March 2022 The uptake in renewable energy could see gas demand from Australia’s East Coast decline by some 60% in 2050, depending on the pace of the energy transition, said advisory firm Wood Makenzie (Woodmac) this week. Woodmac noted that Eastern Australia’s gas demand has dropped in recent years, partly... 

Image shows LNG cargo ship

Origin launches major share buy-back

By: Esmarie Iannucci     9th March 2022 ASX-listed Origin Energy on Wednesday announced a A$250-million initial on-market share buy-back, starting in April 2022. “Origin is in a strong financial position, with a robust outlook for the business and a capital structure comfortably within our target range. This means we are now in a... 

Santos starts FEED at new CCS project

By: Esmarie Iannucci     9th March 2022 Oil and gas major Santos on Wednesday announced that it had entered the front-end engineering and design (FEED) phase for the proposed Bayu-Undan carbon capture and storage (CCS) project, in Timor-Leste. The Bayu-Undan CCS project could potentially safely and permanently store up to 10-million... 

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