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Oil and Gas News
Seismic surveys safe for the environment - study
By: Esmarie Iannucci 20th July 2021 The Australian Petroleum Production and Exploration Association (Appea) has welcomed research by the Australian Institute of Marine Science (AIMS), which showed that marine seismic surveys used in oil and gas exploration are not affecting the abundance or behaviour of commercially valuable... →
Santos admits to merger talks with Oil Search
By: Esmarie Iannucci 20th July 2021 Oil and gas major Santos on Tuesday confirmed a failed bid to gain control of fellow listed Oil Search earlier this year. Oil Search yesterday revealed that it had received a confidential, non-binding indicated change of control proposal, which the company and its advisors had rejected, as it... →
Chevron's CCS plans at Gorgon falter
By: Esmarie Iannucci 19th July 2021 US energy major Chevron on Monday conceded that it had failed to capture sufficient greenhouse gas emissions at its Gorgon oil and gas project, and was now working with the Western Australian regulator to make-up the shortfall. Under the terms of the project’s approval, the Gorgon liquefied... →
Oil Search MD quits
By: Esmarie Iannucci 19th July 2021 ASX-listed Oil Search on Monday announced the resignation of MD Dr Keiran Wulff, citing health reasons and behavioral issues. Oil Search chairperson Rick Lee said that the board entered into discussions with Wulff following the receipt of recent concerns and complaints about his behavior,... →
Greenland scraps all future oil exploration on climate concerns
By: Bloomberg 16th July 2021 Greenland dropped all plans for future oil exploration on environmental grounds, saying the price of extraction was “too high". The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. While the decision to scrap planned... →
Electronic gauges for hazardous areas
16th July 2021 Industrial electronics producer Instrotech is offering geotechnical solutions specialist Keller’s range of five intrinsically-safe electronic pressure gauges for use in areas subject to gas explosion risks. The type approvals are compliant with the ATEX explosion protection directive regarding... →
IEA report points to growth in global electricity demand this year
By: Donna Slater 15th July 2021 The International Energy Agency (IEA) expects global electricity demand to rebound strongly this year and next. Electricity demand decreased by about 1% in 2020, but is expected to grow by 5% this year and by 4% in 2022, a new IEA report shows. →
Chevron awards A$100m contract to Ventia
By: Esmarie Iannucci 15th July 2021 US energy major Chevron has awarded a A$100-million, ten-year long-term maintenance master contract to contractor Ventia for works in the Pilbara region. As Primary Maintenance Contractor, Ventia will deliver front-line and campaign maintenance, brownfield execution scopes and turnaround events... →
Woodside sees rise in revenue and sales
By: Esmarie Iannucci 15th July 2021 Oil and gas major Woodside has reported an increase in sales revenue for the quarter ended June, as sales volumes increased despite a slight decrease in production. Sales revenue for the second quarter was up 15% on the first quarter, reaching A$1.28-billion, with sales volumes up 9% on the... →
Bass strikes deal with Cooper Energy
By: Esmarie Iannucci 12th July 2021 ASX-listed Bass Oil has struck a A$650 000 deal with fellow listed Cooper Energy to acquire that company’s interest in a portfolio of Cooper Basin non-operated assets in South Australia. Bass Oil on Monday told shareholders that the transaction represented a unique opportunity for Bass to... →
WA miners contributed A$83bn to economy in 2019/20 - survey
By: Esmarie Iannucci 12th July 2021 A new survey by the Chamber of Minerals and Energy (CME) for Western Australia has found that the state’s mining, oil and gas, energy and contractor industries contributed a direct A$83-billion to Australia’s economy in 2019-20 and directly provided more than 94 000 full-time jobs. The survey... →
Appea calls for more exploration acreage
By: Esmarie Iannucci 9th July 2021 The Australian Petroleum Production and Exploration Association (Appea) has called for the release of more gas acreage to combat Australia’s high wholesale gas prices. Appea CEO Andrew McConville pointed to the results of the latest international survey of wholesale gas prices by the... →
Qld LNG export reaches record highs
By: Esmarie Iannucci 8th July 2021 Queensland has reported record annual liquefied natural gas (LNG) shipments from Gladstone for 2020-21, despite the impacts of the Covid-19 pandemic. Treasurer and Minister for Investment Cameron Dick said 23-million tonnes of LNG left Gladstone during the past financial year, a 3.72% increase... →
First Beetaloo grant awarded
By: Esmarie Iannucci 7th July 2021 The Australian government has announced the first grants under the A$50-million Beetaloo cooperative drilling program to help accelerate development of gas projects in the Northern Territory. Minister for Resources and Water Keith Pitt has said the three grants to Imperial Oil and Gas would... →
Woodside completes Senegal buy
By: Esmarie Iannucci 7th July 2021 Australian energy major Woodside Energy has completed the acquisition of fellow-listed FAR’s interest in the Rufisque offshore, Sangomar offshore and Sangomar deep offshore (RSSD) contract area, offshore Senegal. Woodside earlier this year exercised its pre-emptive rights over FAR’s interest in... →
Gold heading towards ‘refuge of choice’ status, says incoming AngloGold CEO 
By: Martin Creamer 6th July 2021 Gold is poised to be a "refuge of choice" in the years ahead owing to the extent to which money is being printed and world debt is rising, AngloGold Ashanti CEO-designate Alberto Calderon said on Tuesday. Speaking to Mining Weekly in a Microsoft Teams interview ahead of taking office on September... →
Chevron takes A$6bn plunge at Gorgon
By: Esmarie Iannucci 2nd July 2021 US energy major Chevron has taken a final investment decision (FID) on the A$6-billion Jansz-Io Compression (J-IC) project at the Gorgon joint venture (JV). Chevron Eurasia pacific exploration and production president Nigel Hearne said J-IC represents Chevron’s most significant capital... →
Govt calls for tenders on Northern Endeavour decommissioning
By: Esmarie Iannucci 1st July 2021 The federal government has released a Request for Expressions of Interest (REOI) for Phase 1 works to decommission the Northern Endeavour Floating Production Storage and Offtake (FPSO) facility. The federal government has been responsible for maintaining the Northern Endeavour and associated... →
Glencore paid governments $5.8bn, working hard to develop local skills
By: Martin Creamer 30th June 2021 As one of the world’s largest natural resource companies, with operations across five continents, Glencore is committed to delivering long-lasting socioeconomic benefits, CFO Steven Kalmin on Wednesday. Speaking on video with the release of Glencore's 2020 Payment to Governments Report, Kalmin... →
Glencore CFO Steven Kalmin
Foundation drives development in Africa from ‘clean’ perspective
By: Marleny Arnoldi 29th June 2021 Climate change interventions have immense potential to unlock new development pathways on the African continent, which necessitates that climate change be brought to the forefront of development thinking and planning in Africa, says the African Climate Foundation (ACF). The foundation, during a... →
South African oil law seen unlikely to be approved until 2022
By: Bloomberg 29th June 2021 South Africa’s draft oil exploration and production law is unlikely to be finalized for at least another year, despite the government’s call for the legislation to be expedited. Parliamentary hearings and amendments to the Upstream Petroleum Resources Development Bill published earlier in June... →
Santos hunting for Dorado partner, launches FEED
29th June 2021 Oil and gas major Santos has launched the front-end engineering and design (FEED) for its Dorado project, in the Bedout Sub-basin, offshore Western Australia, and is seeking a partner to help develop the asset. Dorado is an integrated oil and gas project which is planned to be developed in two... →
Appea laments new NOGA levy
By: Esmarie Iannucci 29th June 2021 The Australian Petroleum Production and Exploration Association (Appea) has warned that a new A$0.48 per barrel levy on all offshore oil producers was ‘over the top’ and ‘extreme’. The Department of Industry, Science, Energy and Resources in May this year announced a possible temporary levy on... →
House votes to reinstate Obama methane rule for oil, gas wells
By: Bloomberg 28th June 2021 The House voted Friday to rescind a Trump-era rule blocking the EPA from directly limiting oil industry emissions of the powerful greenhouse gas methane, a move that would restore requirements imposed by the Obama administration while freeing the agency to craft new more stringent rules for the... →
Iron-ore drives Aus exports to record highs
By: Esmarie Iannucci 28th June 2021 New data from the Office of the Chief Economist has estimated that Australia’s resources and energy exports would reach a record A$310-billion in 2020-21, with nearly half of the earnings coming from iron-ore alone. Exports are expected to increase further to A$334-billion in 2021-22, before... →
Interior Secretary says no plan 'right now' to ban new oil, gas leasing
By: Reuters 24th June 2021 US Interior Secretary Deb Haaland on Wednesday told a congressional hearing that there is no plan to permanently ban new oil and gas drilling on federal land but her agency will soon release a report that will assess the future of the federal oil and gas leasing program. The Biden administration... →
Pipeline study underway for Bowen basin
By: Esmarie Iannucci 23rd June 2021 The Queensland government on Wednesday announced a A$5-million study would be undertaken on a gas pipeline which could potentially unlock the Bowen basin and create more jobs. Resources Minister Scott Stewart said the initial concept phase of the Bowen basin pipeline study was underway and would... →
Carbon capture helpful decarbonisation tool – investment professionals
By: Martin Creamer 21st June 2021 Carbon capture and storage is one of the tools in the toolkit that needs to be included in the decarbonisation mix if the world is to reduce emissions effectively over a reasonable time horizon. That is the view of Carbon Infrastructure Partners president and managing partner Craig Golinowski,... →
RMF encourages extractives supply chain disclosure of transactions with States
By: Donna Slater 18th June 2021 Research done by independent research organisation the Responsible Mining Foundation (RMF) has found that very few of the trading companies making transactions in extractive value chains, including for metals, minerals and oil and gas, publicly disclose data on these payments to governments,... →
LNG producers urged to go green
17th June 2021 Advisory firm Wood Mackenzie (Woodmac) has urged Australian liquefied natural gas (LNG) producers to focus on carbon neutral production in order to remain competitive in the international markets. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference,... →
Cooper and Adavale basins to benefit from govt plans
By: Esmarie Iannucci 17th June 2021 Federal Resources, Water and Northern Australia Minister Keith Pitt has unveiled that the Cooper and Adavale basins, in South Australia and Queensland, would be the next focal points for the government’s Strategic Basin Plan. Speaking at the Australian Petroleum Production and Exploration... →
Australian energy powering the world - report
By: Esmarie Iannucci 17th June 2021 PERTH (miningweekly.com) – Geoscience Australia’s snapshot of the nation's energy resources has reaffirmed Australia’s abundance of world class energy resources and role as a globally significant energy commodity producer, with energy export earnings contributing more than A$130-billion to the... →
Govt releases greenhouse gas storage acreage
By: Esmarie Iannucci 17th June 2021 The federal government has called for the nominations of areas for the 2021 Greenhouse Gas Storage Acreage release, covering Commonwealth waters across Australia. The release will provide companies the opportunity to explore for offshore greenhouse gas injection and storage locations. →
300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM
By: Martin Creamer 15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director Sarah Bell... →
Global stock-taking report points to only modest renewables gains in total final energy consumption
By: Terence Creamer 15th June 2021 A new international stock-take of the global transition to renewable energy highlights an “alarming gap between targets and actions” with the share of fossil fuels in energy consumption failing to decrease for the tenth consecutive year in 2020, despite a 4% Covid-linked fall in demand. Published... →
Oil and gas industry riding high - Appea
By: Esmarie Iannucci 15th June 2021 The Australian Petroleum Production and Exploration Association (Appea) has unveiled the oil and gas industry’s first Social License report, which has shown that support for the industry was nearly two-and-a-half times higher than opposition. Appea CEO Andrew McConville said the report... →
New petroleum exploration acreage released
By: Esmarie Iannucci 15th June 2021 The federal government has released 80 000 km2 of new acreage in Commonwealth waters under its 2021 Offshore Petroleum Exploration Acreage Release. Minister for Resources, Water and Northern Australia Keith Pitt said the release comprises 21 areas across the Bonaparte, Browse, Carnarvon, Otway,... →
Fluor repositions South African unit to support energy transition drive
By: Terence Creamer 14th June 2021 Global engineering and construction company Fluor, which has been closely associated with South Africa’s liquid fuels and chemicals industries since the 1960s, has restructured its South African operations to align with the unfolding transitions under way in the energy and mining sectors. Fluor... →
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