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Oil and Gas News

Opec+ oil tensions ease after Saudis speak to Iraq and Nigeria

By: Bloomberg     14th July 2020 Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among Opec+ members over cheating of quotas are being resolved. Saudi Energy Minister Prince Abdulaziz Bin... 

Positive reaction to ANC document’s encouragement of exploration  

By: Martin Creamer     14th July 2020 Reaction has been positive to the discussion document of economic transformation committee (ETC) of the African National Congress (ANC), which states that the listing of mining companies on the Johannesburg Stock Exchange (JSE) should be encouraged and mining exploration incentivised, as is the... 

Positive reaction to ANC document’s encouragement of exploration
Photo by Creamer Media
Paul Miller...flashback to his period in coal exploration and development.

Senex developments add to reserves

By: Esmarie Iannucci     14th July 2020 ASX-listed Senex Energy has reported a 21% increase in the Surat Basin 2P gas reserves, which is now estimated at 739 PJ, following the successful delivery of the company’s natural gas developments in the region. “The 2020 financial year was a year focused on successful execution of our... 

Appea members call for green tape reform

By: Esmarie Iannucci     14th July 2020 The Australian oil and gas industry has called for a green tape reform to support investment confidence and to rebuild the Australian economy post Covid-19. A survey of more than 100 of the Australian Petroleum Production and Exploration Association’s (Appea’s) members had shown that nearly... 

Santos investigates hydrogen in the Cooper basin

By: Esmarie Iannucci     14th July 2020 Oil and gas major has started a concept study on a hydrogen future for the Cooper Basin., and has appointed professional services firm GHD to conduct the study. “The Cooper Basin hydrogen concept study builds on our progress towards the 1.7-million tonne Cooper Basin carbon capture and storage... 

Santos investigates hydrogen in the Cooper basin

Oil Search warns of impairments

By: Esmarie Iannucci     13th July 2020 ASX-listed Oil Search has warned of a non-cash impairment charge of between $360-million to $400-million for its interim results in 2020. The company on Monday told shareholders that the impairment charge took into account the prevailing economic conditions, the outlook for oil and gas prices... 

More Victorian gas exploration targeted

By: Esmarie Iannucci     13th July 2020 The Victorian government has awarded two new gas exploration permits off the state’s south-west coast, allowing Beach Energy and Bridgeport Energy to explore for gas. Minister for Resources Jaclyn Symes on Monday said that if initial exploration is successful, up to A$85-million could flow into... 

Investors in mining exploration should be incentivised – ANC’s ETC 

By: Martin Creamer     13th July 2020 Listings of mining companies on the Johannesburg Stock Exchange should be encouraged and South African retail investors willing to invest in mining exploration should be incentivised as is the case in other mining jurisdictions, the economic transformation committee (ETC) of the African National... 

Investors in mining exploration should be incentivised – ANC’s ETC
Photo by Creamer Media
ANC document says mining exploration should be incentivised.

IEA warns oil demand recovery at risk from virus resurgence

By: Bloomberg     10th July 2020 The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound... 

Hydrogen targeted in the NT

By: Esmarie Iannucci     10th July 2020 The Northern Australian government on Friday unveiled its first ever Renewable Hydrogen Strategy to exploit the global demand for clean energy. The strategy outlines a five point hydrogen plan under which the industry and government would work together to prepare industry capabilities and... 

Mahalo petroleum leases awarded - Comet Ridge

By: Esmarie Iannucci     7th July 2020 The Queensland government has granted ASX-listed Comet Ridge two petroleum leases at its Mahalo gas project. Comet Ridge on Tuesday said that the petroleum lease awards were the final regulatory approval required for the project to move towards production, following the Commonwealth Environment... 

HGM shifts focus to CSG

By: Esmarie Iannucci     7th July 2020 ASX-listed gold and cobalt explorer High Grade Metals (HGM) has announced a move into the coal seam gas (CSG) sector. HGM on Tuesday announced that it had inked a binding agreement to acquire unlisted Jade Gas, which holds a 60% interest in a joint venture (JV) vehicle with Mongolian state-owned... 

South African govt initiates process of developing societal hydrogen roadmap  

By: Martin Creamer     7th July 2020 South Africa’s Department of Science and Innovation (DSI) has initiated a process, with other government and industry stakeholders, to develop a roadmap that will lead South Africa towards a hydrogen society, Mining Weekly can today report. The aim is to create a policy document that will inform... 

South African govt initiates process of developing societal hydrogen roadmap
South African government initiates development of societal hydrogen roadmap

Minerals Council regrets delay of 2018 Mining Charter review 

By: Martin Creamer     6th July 2020 Minerals Council South Africa on Monday expressed regret that the finalisation of the review of the contested elements of the 2018 Mining Charter had been delayed following a judgement of the full bench of the High Court in Pretoria ordering that a number of other parties be joined to the action.... 

Minerals Council regrets delay of 2018 Mining Charter review
Photo by Creamer Media
Minerals Council South Africa.

Santos unveils salty plans for Narrabri

By: Esmarie Iannucci     6th July 2020 Oil and gas major Santos has inked a memorandum of understanding (MoU) with Natural Soda to use salt removed from produced water as part of the Narrabri gas project, in New South Wales. . The two companies have been working together for more than 12 months on a commercially-viable model that... 

Santos unveils salty plans for Narrabri

Sasol gives up licence to seek offshore gas in Mozambique

By: Reuters     5th July 2020 South African petrochemicals giant Sasol has opted to give up its licence to explore for gas off the Mozambique coast, the company said on Sunday. "Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the... 

Sasol narrows immediate asset-disposal focus to ‘top ten’ list 

By: Terence Creamer     3rd July 2020 Chemicals and energy group Sasol has developed a list of ten major assets that will be prioritised for sale in the coming weeks and months as it moves to streamline the business into what is being termed ‘Sasol 2.0’, while also raising proceeds to help it reduce a $9.5-billion debt burden. In... 

Sasol narrows immediate asset-disposal focus to ‘top ten’ list
Photo by Creamer Media
Sasol CFO Paul Victor

Australian gas prices among lowest in Asia

3rd July 2020 New data by the International Gas Union (IGU) has shown that Australia’s average natural gas prices remained among the lowest in Asia. In its 2020 Wholesale Gas Price Survey, IGU showed that average wholesale gas price in Australia last year was around 40% less than the average wholesale price... 

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

Petroleum exploration approved in S Australia

By: Esmarie Iannucci     2nd July 2020 The South Australian government this week announced the successful bids for five new petroleum exploration licenses. The five licenses have a guaranteed work programme valued at a combined A$58.85-million over the next five years, Energy and Mining Minister Dan von Holst Pellekaan said. 

Oil Search cuts jobs and costs

By: Esmarie Iannucci     1st July 2020 ASX-listed Oil Search on Wednesday announced structural changes in the wake of Covid-19 and the falling oil prices, which will result in a 34% decline in staff numbers. The company told shareholders that full time employees will be reduced from 1 649 as of March, to 1 222, with a further 137... 

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Platinum group metals in pole position to benefit from global decarbonisation thrust
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Whitebark raises cash for Wizard Lake

By: Esmarie Iannucci     30th June 2020 Oil and gas junior Whitebark Energy will raise up to A$3-million in a partially underwritten entitlement offer to fund maintenance and workovers cost at the Wizard Lake project, in Canada, as well as the acquisition of land mineral leases and for working capital. The ASX-listed company will... 

Sasol’s asset sale programme advances with bids due for pipeline

By: Bloomberg     29th June 2020 Sasol expects binding bids within weeks for its stake in a natural gas pipeline running from Mozambique to South Africa, as the company accelerates asset sales to pay off debt, according to people familiar with the process. The bidding round underway for the Rompco 865 km gas pipeline stake... 

SA Inc must act now to take ownership of battery metals value chain – Bushveld 

By: Martin Creamer     26th June 2020 Bold action is needed by South Africa Inc to take ownership of the significant potential share of the global battery metals market open to it, says Bushveld Minerals CEO Fortune Mojapelo. Speaking to Mining Weekly following this week’s presentation by the company of solid 2019 financial results... 

SA Inc must act now to take ownership of battery metals value chain – Bushveld
Wind and sun are producing clean electricity that vanadium flow batteries can store.

A buyer’s guide to Sasol’s $5bn asset sale process

By: Bloomberg     25th June 2020 Sasol has accelerated an asset disposal program that could eliminate more than half of the company’s debt. The South African company is trying to raise cash amid cost overruns and lower oil prices. The process could be done in a year and take in as much as $5 billion, which would help prevent a... 

Woodside still upbeat on Sangomar

By: Esmarie Iannucci     25th June 2020 Australian oil and gas major Woodside maintains that its Sangomar development, offshore Senegal, is on track for first oil in 2023. The company this week responded to media reports stating that Senegal had been forced to delay its first oil and gas projects by up to two years on the back of the... 

FAR's stake in Sangomar facing headwinds

By: Esmarie Iannucci     24th June 2020 Africa-focused FAR on Wednesday told shareholders that it was continuing to investigate selling off a part of its 15% interest in the Rufisque, Sangomar and Sangomar Deep (RSSD) joint venture (JV), offshore Senegal, while also looking to cut corporate costs further. FAR on Wednesday told... 

Chevron inks gas deal with Nickel West

By: Esmarie Iannucci     24th June 2020 US energy major Chevron has struck a domestic gas sales agreement with mining major BHP’s Nickel West division for the delivery of natural gas from the Chevron-operated Wheatstone domestic gas facility. Starting in July, Chevron would supply BHP Nickel West with a total of 22 Petajoules (PJ) of... 

Nigerians bid to sue Shell in UK over oil spill pollution

By: Bloomberg     23rd June 2020 Thousands of Nigerians are asking British judges to give them permission to sue Royal Dutch Shell Plc in London over environmental damage caused by oil spills 3,000 miles away in Africa. Lawyers for residents of the crude-rich Niger Delta believe a landmark UK Supreme Court ruling last year... 

Covid-19 is an important catalyst for hydrogen economy’s take-off – AP Ventures  

By: Martin Creamer     22nd June 2020 Despite being a global pandemic with hugely negative health consequences, Covid-19  is an important catalyst for the take-off of the hydrogen economy, in which platinum plays a fundamental role. “There’s an opportunity now to capitalise on a new wave on interest in hydrogen,” says AP Ventures LLP... 

Covid-19 is an important catalyst for hydrogen economy’s take-off – AP Ventures
AP Ventures founding partner Kevin Eggers speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Glencore says will cooperate with investigation by Swiss

By: Martin Creamer     20th June 2020 Diversified mining company Glencore stated at the weekend that it would cooperate with an investigation opened into it by the office of the attorney general of Switzerland. Glencore stated in a release to Mining Weekly that it had been informed by the office of the attorney general that it had... 

Glencore says will cooperate with investigation by Swiss
Photo by Bloomberg
Glencore head office.

Woodside potential buyer of NWS stake - Woodmac

By: Esmarie Iannucci     19th June 2020 Oil and gas major Woodside on Friday said the company would ‘consider’ making an offer for US energy giant Chevron’s 16.67% stake in the North West Shelf asset, offshore Western Australia. Reports emerged this week that Chevron was seeking to sell out of the North West Shelf asset, Australia’s... 

Woodside potential buyer of NWS stake - Woodmac

Victorian onshore gas production green lit

By: Esmarie Iannucci     19th June 2020 The Petroleum Legislation Amendment Bill 2020 was passed through the Victorian Legislative Council this week, paving the way for a restart of the onshore conventional gas industry. The onshore conventional gas restart follows three years of detailed scientific investigations by the Victorian Gas... 

Tlou gets green light for 2 MW plant

By: Marleny Arnoldi     18th June 2020 ASX- and Aim-listed Tlou Energy has been granted a 15-year electricity generation licence by the Botswana Energy Regulatory Authority. The licence is for 2 MW of coal-bed methane, gas and solar power generation at the company’s Lesedi project.  

APLNG to buy Armour’s 10% interest in Murrunga block

By: Simone Liedtke     18th June 2020 Armour Energy has entered into a sale and purchase agreement with Australia Pacific Liquefied Natural Gas (LNG), or APLNG, for the sale of its 10% interest in petroleum lease 1084, known as the Murrunga block, in the Surat basin of Queensland, for $4-million. Under the terms of the agreement,... 

Chevron to start sale process for North West Shelf LNG stake

By: Bloomberg     18th June 2020 Chevron. will start a sales process for its interest in the North West Shelf project in Australia, one of the nation’s first liquefied natural gas export ventures, after receiving a number of approaches from potential buyers. The US energy major has been looking to make cutbacks as the industry... 

Chevron to start sale process for North West Shelf LNG stake

Santos inks gas deal with Gold Fields

By: Esmarie Iannucci     16th June 2020 Oil and gas major Santos has inked a new gas supply agreement with gold miner Gold Fields over its three gold mines in Western Australia. Under the terms of the agreement, Santos would supply some 5.5 PJ of natural gas from its Varanus Island gas plant over a three-year period, starting in July... 

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