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Oil and Gas News

Shell sells part of Woodside stake for A$3,3bn

By: Esmarie Iannucci     8th November 2010 Petroleum giant Shell announced on Monday that it would sell a 10% stake in Australia’s largest independent oil and gas company, Woodside, for A$3,3-billion. Shell subsidiary, Shell Energy Holdings Australia (SEHAL) would sell 78,34-million shares in ASX-listed Woodside, representing 29,18% of... 

Moore seeks support to oppose new petroleum regulator

By: Esmarie Iannucci     4th November 2010 Western Australia Mines and Petroleum Minister Norman Moore was seeking support from oil and gas companies to oppose federal government plans to introduce a national offshore petroleum regulator. Moore, in a letter to affected companies, explained how the federal government’s plan would strip... 

WorleyParsons awarded QCLNG contract

By: Esmarie Iannucci     2nd November 2010 ASX-listed project house WorleyParsons has been appointed as the detailed engineering and procurement services contractor for the $15-billion Queensland Curtis Liquefied Natural Gas (QCLNG) project, being developed by BG Group. The project house said in a statement on Tuesday that its contract... 

BG Group approves $15bn Queensland LNG project

By: Esmarie Iannucci     1st November 2010 Global natural gas company BG Group will spend $15-billion to develop the Queensland Curtis Liquefied Natural Gas (QCLNG) project over the next four years, it announced over the weekend, after receiving federal and state environmental approvals. The first phase of the liquefaction plant will... 

Woodside buys out project partner in Pluto Central hub

By: Esmarie Iannucci     29th October 2010 ASX-listed Woodside Petroleum would buy the outstanding 50% equity in the Pluto Central hub from project partner Hess Exploration. Woodside said on Friday that it would hold full ownership of the WA-404-P permit, which contains the Martell, Noblige, Larsen and Larsen Deep gas discoveries, as... 

Sherritt adjusted earnings down y-on-y

By: Liezel Hill     27th October 2010 Toronto-based nickel and energy firm Sherritt International reported adjusted net income of C$49,1-million, down from with C$55,9-million last year, after higher metals prices were offset by increased costs. Including an unrealised foreign exchange gain and an impairment charge, Sherritt... 

Karoon plans $772,5m IPO for Brazilian subsidiary

By: Esmarie Iannucci     27th October 2010 ASX-listed oil and gas company Karoon on Wednesday reported that the initial public offering (IPO) of its Brazilian subsidiary, Karoon Petroleo & Gas (Karoon SA), would raise up to $772,5-million when listing on the Brazilian stock exchange. Karoon said in a statement that around 1,03-million... 

Alberta probes more duck landings on Syncrude tailings pond 

By: Liezel Hill     26th October 2010 The government of Alberta is investigating waterfowl landings on a Syncrude Canada tailings pond north of Fort McMurray, the province said on Tuesday. An undetermined number of ducks landed on the Mildred Lake Settling Basin on Monday evening and some are "heavily oiled", the government said. 

Santos to supply gas to GLNG project

By: Esmarie Iannucci     26th October 2010 Oil and gas major Santos was looking to supply 750 PJ of gas over a 15-year period from its Cooper basin joint venture (JV) to the newly approved Gladstone Liquefied Natural Gas (GLNG) project, in Queensland. The gas would be delivered from Santos’ eastern Australian gas portfolio, with existing... 

Queensland approves gas projects worth A$30bn

By: Esmarie Iannucci     22nd October 2010 The Australian government on Friday approved two coal seam gas projects at Gladstone, in Queensland, with an estimated combined value of around A$30-billion. However, more than 300 conditions have been imposed on the two projects, being developed separately by Santos and the Queensland Gas... 

Lignite gasification 
increases costs of 

By: Schalk Burger     22nd October 2010 Low-grade coals can be gasified to produce synthesis gas (syngas) but gasification contributes about 40% to 50% of the overall costs of a synthetic fuels (synfuels) plant, says Chinese and South African joint venture coal-to-liquids (CTL) company Clean Coal Technology South Africa (CCTSA) chief... 

Mines to supply CTL coal feedstock 

22nd October 2010 The Thubelisha and Impumelelo coal mines, in Mpumalanga province, will supply petrochemicals giant Sasol’s coal-to-liquids (CTL) operations, in Secunda, and will replace the depleting coal mines used by mining affiliate company Sasol Mining, the company reports. 

Ningxia CTL plant proposal to be considered in last quarter of 2010

22nd October 2010 Engineering consultancy Chinese International Engineering Consultative Company’s recommendations on the proposed coal-to-liquids (CTL) plant to be built in the Ningxia Hui Autonomus region is expected to go before the Chinese National Energy Administration in the last quarter of 2010, says Sasol... 

Carbon sequestration technologies for new CTL plant

22nd October 2010 Global oil giant Shell and diversified mining company Anglo American, in a joint venture known as Monash Energy, are developing a clean coal-to-liquids (CTL) plant in the Latrobe Valley, in Australia, which will use low-emission and carbon sequestration technologies. 

Sasol technology to help countries eyeing energy security

22nd October 2010 Coal gasification and Fischer-Tropsch synthesis have been arousing interest in countries seeking to improve their energy security and, for some, to attain energy self-sufficiency, says petrochemicals giant Sasol’s synthetic fuels (synfuels) arm Sasol Synfuels International (SSI). 

Sasol launches ultralow-sulphur diesel fuel

By: Schalk Burger     22nd October 2010 South African fuels and petrochemicals producer Sasol has launched an ultralow-sulphur diesel that eliminates injector fouling in diesel engines and can be used in all new-generation diesel technologies, says Sasol fuels technology manager Paul Morgan. 

Santos prices €300m follow-on hybrid

By: Esmarie Iannucci     15th October 2010 ASX-listed oil and gas company Santos on Friday launched and priced a €300-million follow-on hybrid issue, to follow its debut issue of a €700-million, which settled during September. This will bring the total amount of hybrid capital raised by Santos in the market to €1-billion, or around A$1,4... 

Consol Energy boosts coal, gas output

By: Liezel Hill     13th October 2010 Pittsburgh-based Consol Energy increased coal production in the third quarter to 14,7-million tons of coal, including 1,3-million tons of low-volatile coking coal produced at the Buchanan mine, the firm said on Wednesday. A year ago, Consol produced 12,9-million tons of thermal coal and... 

Oil and gas firm Peak to launch A$55m IPO

By: Esmarie Iannucci     11th October 2010 Oil and gas developer Peak said on Monday that it would raise around A$55-million through its initial public offering (IPO). The Philippines-focused developer would place 157-million shares up for sale when the IPO opens on October 15. Once the IPO has been completed, Peak would have 288-million... 

Lawyer urges mining companies venturing into Africa 
to strictly adhere to legal requirements

By: Jonathan Faurie     8th October 2010 Companies planning to expand into Africa are being urged to do so with particular emphasis on strict compliance with African legal requirements, reports legal giant Webber Wentzel Attorneys. 

BHP pulls out of Falkland exploration JV

By: Esmarie Iannucci     29th September 2010 Aim-listed Falkland Oil & Gas said on Wednesday that its joint venture-partner BHP Billiton had pulled out of an exploration project in the Falkland Islands. BHP, which owns a 51% stake in 14 exploration and production licences covering 18-million acres, had elected to “walk away” from the... 

Apollo Gas agrees to takeover from Dart Energy

By: Esmarie Iannucci     28th September 2010 ASX-listed coal seam gas developer and Arrow Energy spin-off Dart Energy has agreed to make an all-scrip offer for Apollo Gas. Dart on Tuesday offered three of its own shares for every four Apollo shares held, valuing Apollo’s shares at A$0,79 a share, and valuing the company at A$145-million. 

BHP gives green light for $1,5bn WA gas project

By: Esmarie Iannucci     24th September 2010 The world’s largest diversified miner, BHP Billiton has approved the development of the $1,5-billion Macedon gas project, in Western Australia. The Macedon project involves four offshore production wells supplying a wet gas pipeline to an onshore gas treatment plant. A sales gas pipeline would... 

Australia moves to beef up offshore petroleum safety

By: Esmarie Iannucci     23rd September 2010 Australia’s National Offshore Petroleum Safety Authority (Nopsa) has been granted enhanced powers to regulate the industry. Speaking at the 2010 South East Asia Australia Offshore Conference in Darwin, Resources, Energy and Tourism Minister Martin Ferguson underlined the importance of... 

Major buyers increase LNG imports by 28% in H1 – EnergyQuest

By: Creamer Media Reporter      21st September 2010 Global imports of liquefied natural gas (LNG) by the world’s major buyers were 28% higher in the first half of 2010, compared with the first six months of 2009, energy economics group EnergyQuest revealed on Tuesday. The analysis covers LNG imports by North Asian countries, the EU and the US,... 

Bow Energy and LNG end talks on Gladstone project

By: Esmarie Iannucci     21st September 2010 Oil and gas explorer Bow Energy has terminated discussions with Liquefied Natural Gas (LNG) regarding the Fisherman’s Landing project, in Gladstone, the ASX-listed company said on Tuesday. The two companies were exploring gas supply and strategic partner options in relation to LNG’s Fisherman’s... 

South Africa awards BHP Billiton petroleum exploration rights

By: Martin Creamer     21st September 2010 Mining giant BHP Billiton has been awarded petroleum exploration rights offshore of South Africa's West Coast. Petroleum Agency SA CEO Mthozami Xiphu told Mining Weekly Online on Tuesday that the agency had issued the long-awaited permit on September 14.  

Santos raises €650m for Gladstone LNG project

By: Esmarie Iannucci     17th September 2010 ASX-listed gas producer Santos on Friday reported that it had completed a €650-million hybrid issue, which would receive 100% equity credit from Standard & Poor’s, in order to fund its Gladstone liquefied natural gas (GLNG) project. Santos vice-president and CFO Peter Wasow said on Friday that... 

SA mine may make small, but significant, dent in China’s rare-earths market dominance

By: Irma Venter     17th September 2010 Earlier this year the increasingly tight rare earths supply situation prompted one environmental journalist in the US to exclaim that we should all kiss our wind turbines goodbye. 

Shell talks up SA shale gas prospects

By: Matthew Hill     13th September 2010 Energy giant Shell is confident of finding shale gas in South Africa, CEO Peter Voser said on Monday. The company has been granted permits to explore for the fuel by Petroleum Agency SA, along with oil and gas company Falcon. Sasol and Anglo American have also applied for exploration permits.... 

Coal to remain world's top power source over next 20 years

By: Matthew Hill     13th September 2010 Global energy demand will rise as much as 40% in the next 20 years, IHS Cambridge Energy Research Associates chairperson Daniel Yergin said on Monday. "In our scenarios for the future we expect by 2030 to see growth somewhere between 30% and 40% off a much larger base in demand. That's a very... 

Alberta govt charges Suncor over water runoff violations

By: Liezel Hill     10th September 2010 The government of Alberta has laid charges against Suncor Energy for alleged violations related to the company's responsibility to manage stormwater run-off at its Voyageur upgrader site, about 20 km north of Fort McMurray. “The charges relate to non-compliance with Suncor’s Water Act licence... 

Santos/Petronas JV sell 20% stake to Total

By: Esmarie Iannucci     9th September 2010 ASX-listed gas producer Santos and its joint-venture partner (JV) in the Gladstone liquefied natural gas (GLNG) project, Petronas, have agreed to sell a 20% stake in the project to Total. Santos said in a statement that it had sold 15% of its 60% stake in GLNG to Total for a total of... 

Strong demand in Japan, China drives Australian LNG output

By: Esmarie Iannucci     8th September 2010 Australia’s liquefied natural gas (LNG) production for the 2009/10 financial year increased by 7,5% to record levels of 18,7-million tons, on the back of an increased global demand. Energy economics group EnergyQuest has reported that the growth in LNG production was driven by a growing demand... 

Santos developing Halyard field to boost WA gas supply

By: Esmarie Iannucci     30th August 2010 Australian gas producer Santos on Monday reported that it was looking to develop a new Western Australian gas supply from its Halyard field, which it jointly owns with Apache Energy. The two companies would now complete and tieback the Halyard well, and subject to the outcome of the Spar 2... 

African Petroleum delists from ASX to remove ‘distractions’

By: Esmarie Iannucci     27th August 2010 Oil and gas explorer African Petroleum, led by Tony Sage, would delist from the ASX on September 3, and would now only trade on Australia’s NSX. The company it would delist to protect shareholder wealth and to remove the “distractions caused by the questions and queries raised by the ASX” to... 

Queensland’s Bligh welcomes A$3,5bn Arrow takeover

By: Esmarie Iannucci     19th August 2010 Queensland Premier Anna Bligh on Thursday welcomed the successful completion of the acquisition of Australian coal seam gas company, Arrow Energy by energy major Shell. A joint venture (JV) between Shell and a subsidiary of PetroChina in March agreed to buy Arrow in a cash deal worth... 

Woodside profit jumps 40% on stronger prices, sales gain

By: Esmarie Iannucci     18th August 2010 Oil and gas producer Woodside has reported a 40% increase in its profits for the first half of the 2010 financial year. Net profit after tax increased to A$901-million, mainly owing to stronger commodity prices and the sales gain from the Otway assets. 


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