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Oil and Gas News

Billions in upstream opportunities left - Woodmac

By: Esmarie Iannucci     11th June 2021 Advisory firm Wood Mackenzie (Woodmac) has estimated that a potential $14-billion of upstream oil and gas assets could potentially be coming into the market, as the merger and acquisition (M&A) market in Asia begins to thaw. Woodmac Asia Pacific vice chairperson Gavin Thompson noted that the... 

Worm gears need specialist lubrication

11th June 2021 Worm gears are specifically designed to transmit motion and power between nonintersecting shafts, such as shafts at right angles to each other. Because worm gears work differently to other gears, they require specialist lubrication. Unlike other gears, the worm can easily turn the gear, but the... 

Varnish removal solution makes debut

11th June 2021 Oil major Chevron’s brand Caltex Lubricants launched a holistic solution for varnish removal in steam and gas turbines called VARTECH Industrial System Cleaner (ISC) in April this year. VARTECH ISC’s unique triple action technology cuts through hard varnish, captures and stabilises micro-sized... 

Investors with $41tr ask G7 to stop subsidising fossil fuels

By: Bloomberg     10th June 2021 A coalition of investors overseeing a combined $41-trillion of assets have called on world leaders to set more ambitious greenhouse-gas emissions targets and end support for fossil fuels. DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among 457... 

Canadian oil sands producers announce net-zero ambition

By: Mariaan Webb     9th June 2021 Canada’s major oil sands producers on Wednesday announced an alliance to achieve net-zero greenhouse gas emissions (GHG) from oil sands operations by 2050. The initiative, which is a collaboration between industry and government, will seek to develop an actionable approach to emissions, while... 

Canadian oil sands producers announce net-zero ambition

Enbridge faces second day of anti-pipeline outcry in Minnesota

By: Bloomberg     9th June 2021 Protests against the construction of an Enbridge oil pipeline in Minnesota continued for a second day after about 200 people were arrested. The Canadian pipeline giant evacuated 44 workers on Monday after more than a thousand people descended onto two work sites, including a pump station and... 

Woodside sees some cost pressures facing $11bn Scarborough gas project

By: Reuters     9th June 2021 Woodside Petroleum is in the final stages of working out costs on its Scarborough gas and Pluto LNG expansion project, as it faces rising labour and steel costs, the company's boss said on Tuesday. The Scarborough development offshore Western Australia will feed an expansion of Woodside's Pluto... 

Santos one of govt's CCS fund winners

By: Esmarie Iannucci     9th June 2021 The federal government has announced the six new carbon capture, use and storage (CCUS) projects that would share A$50-million in funding. Oil and gas major Santos has been awarded up to A$15-million in funding towards the low-cost capture and storage of carbon emitted from its Moomba liquefied... 

Santos one of govt's CCS fund winners

Woodside sets new carbon targets for Pluto

By: Esmarie Iannucci     8th June 2021 Oil and gas major Woodside has set new emission reduction targets at its Pluto liquefied natural gas (LNG) project. Woodside on Tuesday revealed that under its Wood contemporized Pluto Greenhouse Gas Abatement program (GGAP), the company has set an interim target to abate 30% of emissions by... 

Coal and gas to remain Aus energy backbone - Minister

By: Esmarie Iannucci     4th June 2021 Federal Energy and Emissions Reduction Minister Angus Taylor has again reiterated the need for coal and gas in the Australian energy mix, despite the increase in the use of renewable energy options. The 2021 Australian Energy Statistics, released by the Department of Industry, Science, Energy... 

Miners contributing to A$8bn trade surplus in April

By: Esmarie Iannucci     4th June 2021 New data by the Australian Bureau of Statistics (ABS) has shown that the resources sector continued to support Australia’s economy, with the ABS reporting a trade surplus of more than A$8-billion in April 2021. Federal Resources Minister Keith Pitt on Friday said that the positive data for April... 

Miners contributing to A$8bn trade surplus in April

Gas sales system works - Appea

By: Esmarie Iannucci     3rd June 2021 The Australian Petroleum Production and Exploration Association (Appea) has welcomed a gas supply agreement between Queensland gas producer Westside and Alinta Energy and CleanCo Queensland, saying it is further proof that the industry continues to deliver for the Australian economy. Westside... 

Karoon takes FID on Brazilian oil field

By: Esmarie Iannucci     3rd June 2021 ASX-listed Karoon Energy has taken a positive final investment decision on its $175-million to $195-million Patola oil project in the Santos basin, offshore Brazil. Patola, which is adjacent to the producing Baúna and Piracaba accumulations, would be tied back to the existing Baúna floating... 

Resource statement released to tempt new investment

By: Esmarie Iannucci     3rd June 2021 The federal government on Thursday released its first Global Resources Statement as part of its efforts to attract foreign investment and partnerships to develop Australia’s natural resources. The Global Resources Statement is the first milestone under the government’s Global Resources Strategy,... 

Resource statement released to tempt new investment

Woodside appoints former Treasurer to its board

By: Esmarie Iannucci     2nd June 2021 Oil and gas major Woodside has appointed Ben Wyatt as a non-executive director, effective immediately. Wyatt is the former Western Australian Treasurer and has had ministerial responsibility for Finance, Energy, Aboriginal Affairs and Lands. 

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

By: Terence Creamer     2nd June 2021 Renewables projects are expected to account for 70% of a record $820-billion in new power generation investment in 2021, as global electricity deployments exceed those of oil and gas for the sixth year in a row. Nevertheless, a new International Energy Agency (IEA) report warns that energy... 

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

Council for Geoscience goes live with digital geoscience data

By: Martin Creamer     1st June 2021 South Africa’s Council for Geoscience went live on Tuesday with making geoscience data digitally available. During a panel discussion on the first day of the Junior Indaba, Council for Geoscience CEO Mosa Mabuza invited all to go on to the council’s website to find this data, the bulk of which,... 

From top clockwise, ENSafrica COO Otsile Matlou, Geoscience CEO Mosa Mabuza, Orion Minerals CEO Errol Smart, DMRE DG Advocate Thabo Mokoena and AmaranthCX director Paul Miller.
Photo by Creamer Media
From top clockwise, ENSafrica COO Otsile Matlou, Geoscience CEO Mosa Mabuza, Orion Minerals CEO Errol Smart, DMRE DG Advocate Thabo Mokoena and AmaranthCX director Paul Miller.

Tender for new modern cadastre system to be invited next week   

By: Martin Creamer     1st June 2021 A tender for a new modern cadastre system to provide exploration information will be invited by the end of next week, Department of Mineral Resources and Energy (DMRE) director-general Advocate Thabo Mokoena said on Tuesday. In his opening keynote address on initiatives to ignite the exploration... 

Department of Mineral Resources and Energy Director-General Advocate Thabo Mokoena
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

GLNG partners invest in Yebna North

By: Esmarie Iannucci     1st June 2021 The Queensland government has welcomed a A$30-million investment in in Yebna North by gas producer Santos and its Gladstone liquefied natural gas (GLNG) partners Petronas, Total and KOGAS. Premier Annastacia Palaszczuk said the investment would enable production from an undeveloped area in the... 

Hydrogen 'a huge opportunity' to replace fossil fuels, says US energy secretary

By: Reuters     31st May 2021 US Energy Secretary Jennifer Granholm on Friday called hydrogen "a huge opportunity" for the oil and gas sector to reduce greenhouse gas emissions. Granholm visited an Air Liquide facility in Texas that produces hydrogen, a clean-burning gas that environmentalists say could replace fossil fuels... 

US Energy Secretary Jennifer Granholm
US Energy Secretary Jennifer Granholm

Activist's fight at Exxon started with lessons at a coal mine 

By: Bloomberg     28th May 2021 The activist investor who just scored a major victory at Exxon Mobil this week says he learned a key lesson he brought to the boardroom battle from a failed coal mine he tried to launch in the mid-2000s. Chris James said in an interview Thursday that his experience sowed the seeds of what... 

Woodside looks at solar options for Burrup

By: Esmarie Iannucci     28th May 2021 Oil and gas major Woodside is looking at solar energy for its Pluto liquefied natural gas (LNG) facility, on Western Australia’s Burrup Peninsula. The company told shareholders this week that it is investigating the supply of some 50 MW of solar energy from the proposed power project, which... 

Four energy scenarios that may define Southern Africa’s energy transition

By: Donna Slater     27th May 2021 Four vastly different energy transition scenarios, from very ambitious to the least ambitious, were posited by management advisory Africa International Advisors integrated energy practice leader Henry Gilfillan this week. The four scenarios, presented during a webinar on hydrogen, gas and... 

Biden defends Trump approval of Conoco Arctic oil project

By: Bloomberg     27th May 2021 The Justice Department is defending the Trump administration’s approval of a massive ConocoPhillips Alaska project in federal court, over the objections of environmentalists who say the government didn’t adequately consider the venture’s effect on polar bears and the climate. In a filing with... 

Biden defends Trump approval of Conoco Arctic oil project

Govt-Minerals Council team established to promote exploration – Mgojo  

By: Martin Creamer     26th May 2021 The Department of Mineral Resources (DMRE) and Minerals Council South Africa have established a task team to promote exploration, outgoing Minerals Council president Mxolisi Mgojo said on Wednesday. The exploration task team, Mgojo said during his address to the council’s 131st annual general... 

Progress on raising the embedded generation cap to 50MW
Minerals Council South Africa AGM covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Canada's top pension funds boost investments in high-carbon oil sands

By: Reuters     26th May 2021 Canada's biggest pension managers boosted their investments in the country's major oil sands companies in the first quarter of 2021, raising questions about the funds' recent commitments to greening their portfolios. The cumulative investment by the country's top five pension funds into the... 

Central Petroleum sells half of Amadeus basin assets

By: Esmarie Iannucci     25th May 2021 ASX-listed Central Petroleum has inked a sales agreement with fellow listed New Zealand Oil and Gas and Cue Energy Resources to divest of half of its current working interests in its producing assets in the Amadeus basin, in the Northern Territory, for A$85-million. The assets covered under the... 

Central Petroleum sells half of Amadeus basin assets

Jemena calls for renewable gas target

25th May 2021 The CEO of energy infrastructure company Jemena has called or a renewable gas target as a crucial step in achieving net-zero emissions in Australia by 2050 CEO Frank Tudor said that a renewable gas target would spur the development of renewable technologies in the electricity sector. 

Oil-sands producer CNRL reports two deaths amid Covid outbreak

By: Bloomberg     24th May 2021 Canada’s oil sands continue to reel from one of the nations’ biggest outbreaks of Covid-19, with Canadian Natural Resources reporting two more worker deaths. The two individuals, one who worked at the Horizon upgrader site and the other at the Albian oil sands mine, passed away from... 

Oil-sands producer CNRL reports two deaths amid Covid outbreak

BHP completes Neptune divestment

By: Esmarie Iannucci     24th May 2021 Diversified miner BHP has struck a deal to transfer its 35% of its ownership and operatorship in the Neptune field, in the Gulf of Mexico, to joint venture partner (JV) EnVen Energy Ventures. EnVen already holds a 30% interest in the project, with JV partner W&T Energy VI holding a 20% interest... 

The great commodities boom of 2021 is facing its first big test

By: Bloomberg     21st May 2021 One of the biggest commodities booms in decades is looking for a fresh reason to power higher. Markets from copper to oil to corn surged recently as monetary stimulus and a recovery from the pandemic tightened supplies, fueling a debate about whether raw materials are in a new supercycle. But the... 

Woodside advances green ammonia work

By: Esmarie Iannucci     20th May 2021 Oil and gas major Woodside has inked a heads of agreement with IHI Corporation and Marubeni Corporation to investigate the production and export of green ammonia produced from renewable hydro power in Tasmania. The companies said in a joint statement on Thursday that initially, the green... 

Pitt punts more gas

By: Esmarie Iannucci     19th May 2021 Federal Resources Minister Keith Pitt has thrown his support behind the development of further liquefied natural gas (LNG) projects, in Western Australia, saying they would be needed to support increased global demand. “Global gas demand is forecast to grow by 1.5% on average per year out to... 

Appea welcomes IEA zero carbon report

By: Esmarie Iannucci     19th May 2021 The Australian Petroleum Production and Exploration Association (Appea) this week said that the oil and gas industry was well placed to rise to the challenges of a net zero carbon future, in the wake of a report by the International Energy Agency (IEA). The IEA this week stated that to reach the... 

Woodside walks away from Kitimat

By: Esmarie Iannucci     18th May 2021 Australian oil and gas producer Woodside on Tuesday announced that it would exit its 50% non-operated participating interest in the Kitimat liquefied natural gas (LNG) development, in British Columbia. The company told shareholders that the exit would cost Woodside impact the company’s net... 

Woodside walks away from Kitimat

Govt steps in to help save refineries

By: Esmarie Iannucci     17th May 2021 The federal government has introduced a fuel security package to help secure Australia’s recovery from the Covid crisis and to help secure the country’s sovereign fuel stocks, locking in jobs and protecting families and businesses from higher fuel prices. Prime Minister Scott Morrison said the... 

Govt steps in to help save refineries

Upstream Petroleum Bill nears finalisation

By: Marleny Arnoldi     14th May 2021 Law firm Cliffe Dekker Hofmeyr (CDH) expects the updated iteration of the Upstream Petroleum Resources Development Bill to be gazetted by June. This follows after Cabinet approved the submission of the draft Bill to Parliament this week.  

Sasol moves to sell big stake in Rompco pipeline to a Reatile-led consortium 

By: Terence Creamer     14th May 2021 Energy and chemicals group Sasol confirmed on Friday that it had entered into a R5-billion agreement with a Reatile-led consortium for the sale of a 30% stake in the Republic of Mozambique Pipeline Company (Rompco), the joint venture that owns the 865-km gas transmission pipeline from southern... 

Sasol moves to sell big stake in Rompco pipeline to a Reatile-led consortium
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