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Au 1789.20 $/oz Change: -0.36
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Oil and Gas News

Moomba to be in production by 2024

By: Esmarie Iannucci     2nd November 2021 Oil and gas major Santos and its joint venture (JV) partner Beach Energy have taken a final investment decision (FID) on the $165-million Moomba carbon capture and storage (CCS) project, in South Australia. Start-up of the project is expected in 2024 and the project will reduce emissions from... 

Trouble on the horizon for Scarborough

By: Esmarie Iannucci     29th October 2021 Oil and gas major Woodside has defended the development of its $12-billion Scarborough project, saying the company had set clear emission reduction targets. A new campaign has been launched to resist the Scarborough development, with the Say No to Scarborough Gas coalition launching on Friday.  

Image shows Woodside logo outside its office building in Perth

Teck's C$1bn quarterly profit helped by steelmaking coal

By: Mariaan Webb     27th October 2021 Canadian diversified miner Teck Resources has posted record third-quarter results, helped by strong commodity prices, particularly for steelmaking coal. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) was a record C$2.1-billion in the third quarter – more than... 

An image of Teck CEO Don Lindsay
Teck CEO Don Lindsay

Barossa tracking to plan - Gallagher

By: Esmarie Iannucci     27th October 2021 Oil and gas major Santos on Wednesday said that its $2.6-billion Barossa project is running on schedule and within budget, and is now about 15% complete. First gas from Barossa is targeted for the first half of 2025. 

Image shows Santos workers at an un-named plant

NT advances CCUS hub with LNG producers

By: Esmarie Iannucci     27th October 2021 The Northern Territory government has signed an agreement with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), a number of industry players and engineering companies to fast-track emissions reduction across Northern Australia’ energy sector. The agreement will see all... 

Oil Search narrows full year guidance

By: Esmarie Iannucci     27th October 2021 Oil and gas producer Oil Search has reported a strong quarter in the three months to September, as operating revenues and production rose. Operating revenues for the September quarter was up 12% on the previous quarter, to $409-million, as liquefied natural gas (LNG) and gas realised prices... 

Australia sets 2050 net-zero targets

By: Esmarie Iannucci     26th October 2021 Australian Prime Minister Scott Morrison on Tuesday set a net zero emissions target for 2050 ahead of the COP26, releasing Australia’s Long Term Emissions Reduction Plan. The technology-driven plan sets out a credible pathway to net zero by 2050, while preserving our existing industries,... 

Image shows Australian PM Scott Morrison
Photo by Bloomberg
Australia PM Scott Morrison

Climate Council calls for end to coal and gas as Australia places last

By: Esmarie Iannucci     25th October 2021 A new report by the Climate Council has ranked Australia in last place out of all developed countries, for its performance on climate change. The report assessed both Australia’s track record on climate and its commitments moving forward against its international peers and found that Australia... 

Origin sells 10% stake in APLNG

By: Esmarie Iannucci     25th October 2021 ASX-listed Origin Energy has struck a $2.12-billion agreement with global energy investor EIG to sell a 10% interest in the Australia Pacific liquefied natural gas (LNG) project. “Divesting a 10% interest allows Origin to crystalise some of the significant value we have created in Australia... 

Woodside plans hydrogen facility in Perth

By: Esmarie Iannucci     25th October 2021 Energy major Woodside on Monday unveiled plans to establish a world-scale hydrogen and ammonia production facility in Perth. The proposed project, named H2Perth, would be built on 130 ha of vacant industrial land to be leased from the state in the Kwinana Strategic Industrial Area and Rockingham... 

Image shows Woodside head office in Perth

No zero carbon without green hydrogen, US pledging $1/kg coal-parity price 

By: Martin Creamer     21st October 2021 The world will be unable to meet its zero-carbon targets without the introduction of green hydrogen solutions, says Plug Power chief strategy officer Sanjay Shrestha, at a time when the US has launched a programme to cut the cost of clean hydrogen by 80%. Nasdaq-listed Plug Power, a pure play... 

Creamer Media Screenshot
Photo by Creamer Media
Plug Power chief strategy officer Sanjay Shrestha

Higher oil prices drive Woodside revenues

By: Esmarie Iannucci     21st October 2021 ASX-listed Woodside Petroleum has reported a 19% increase in sales revenue for the third quarter ended September, compared with the previous quarter, despite a 2% fall in production. The company on Thursday reported that production in the three months to September reached 22.2-million barrels of... 

Santos posts record revenues

By: Esmarie Iannucci     21st October 2021 Oil and gas major Santos has reported record sales revenue and free cash flows for the three months to September. Production during the three months under review was down 3% on the previous quarter, to 21.9-million barrels of oil equivalent, while sales volumes declined by 8% on the June quarter... 

Image shows a Santos-owned LNG plant

Senex production increases in Sept quarter

By: Esmarie Iannucci     19th October 2021 ASX-listed Senex Energy has reported a 6% increase in production during the three months to September. Production during the September quarter grew to 5 PJ, driven by commissioning of the Roma North Stage 1b expansion, and the Atlas project achieving nameplate production of 32 TJ/d. 

Court upholds Narrabri approval

By: Esmarie Iannucci     18th October 2021 The New South Wales Land and Environment Court has upheld the New South Wale’s Independent Planning Commission’s approval of the Narrabri gas project. Oil and gas major Santos has welcomed the dismissal of the appeal against the Narrabri project, saying on Monday that the company was now looking... 

Image shows two workers at a Santos plant

Senex in talks with POSCO over possible deal

By: Esmarie Iannucci     18th October 2021 ASX-listed Senex Energy on Monday flagged change of control discussions with POSCO International Corporation. The company told shareholders that POSCO International in early September submitted a revised non-binding and indicative proposal to acquire 100% of Senex for a cash offer price of... 

‘Unleash American shale’ to end energy crisis

By: Bloomberg     15th October 2021 The largest US natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. US gas drillers could increase supplies by about 20% if not for pipeline and... 

Eskom aiming to secure concessional funding for R400bn just energy transition project pipeline 

By: Terence Creamer     14th October 2021 State-owned electricity producer Eskom has identified a pipeline of ‘just energy transition’ projects valued at about R400-billion that it will seek to fund using concessional finance raised from international financiers that have committed to supporting decarbonisation initiatives in developing... 

Photo of Eskom's rock-man statue at Megawatt Park

IEA warns of more energy market volatility as transition investment lags 

By: Terence Creamer     13th October 2021 There is a looming risk of more turbulence ahead for energy markets, the International Energy Agency (IEA) warns in its latest World Energy Outlook publication. “The world is not investing enough to meet its future energy needs, and uncertainties over policies and demand trajectories create a... 

IEA executive director Dr Fatih Birol
IEA executive director Dr Fatih Birol

Senex sets net zero targets

By: Esmarie Iannucci     11th October 2021 ASX-listed Senex Energy on Monday released its decarbonisation action plan, revealing details of its plan to become a net zero operation by 2040. “Natural gas is integral to meeting demand for reliable and affordable energy and we are focused on being the natural gas supplier of choice through... 

Superpower rivalry and vaccine envy set stage for climate talks

By: Bloomberg     8th October 2021 Premiers, presidents, and princes come and go from the world’s biggest climate stage. It’s the nature of the annual international climate talks organized by the United Nations, known as the Conference of the Parties. The guest list changes with whichever parties are in power. Only someone like... 

An image of the COP26 logo

ArcelorMittal slaps surcharge on some steel as energy costs bite

By: Bloomberg     8th October 2021 Europe’s biggest steelmaker ArcelorMittal has slapped a surcharge on some products due to surging power prices, according to a person familiar with the matter. Long steel products sold by ArcelorMittal in Europe will be subject to a €50 ($58) a ton surcharge, said the person, who asked not to be... 

Oil companies ask Canada to pay for 75% of carbon capture facilities

By: Reuters     7th October 2021 Oil and gas companies have asked the Canadian government to design a tax credit to pay for 75% of the cost to build carbon capture facilities that will curb greenhouse gas emissions, the country's main energy industry group said on Thursday. The Canadian Association of Petroleum Producers (CAPP)... 

Gas prices, Europe’s energy crunch threaten Biden climate push

By: Bloomberg     7th October 2021 Allies of the oil and coal industry have seized on energy crises overseas and rising gasoline prices in the US to counter President Joe Biden’s plans to combat climate change and force a rapid shift to renewable power. They’re warning that the dilemma now facing Europe -- where energy shortages... 

A photo of Joe Biden
US President Joe Biden

Fracking is going electric and not everyone is impressed

By: Bloomberg     6th October 2021 Low-carbon fracking - as oxymoronic as it sounds - is gaining traction across the US But since it still extracts the very oil and gas that fossil-fuel critics want the world to stop consuming altogether, not everyone’s convinced. The process of fracturing shale rock formations under high pressure... 

Gas consumption continues to grow - statistics

By: Esmarie Iannucci     5th October 2021 Gas consumption in Australia increased by 4% in 2019-20, the 2021 Australian Energy Statistics has shown. Minister for Energy and Emissions Reduction Angus Taylor said that the growth in gas consumption underscored the important role the gas-fired recovery is playing in driving Australia’s... 

Chevron funds CCS studies in Aus

By: Esmarie Iannucci     5th October 2021 US energy major Chevron has teamed up with the Australian School of Petroleum and Energy Resources to support of carbon capture and storage (CCS) research. Chevron will contribute more than A$2.45-million to create a new facility for carbon storage research that will accelerate Australia’s... 

Headwinds mounting for world economy into final stretch of 2021

By: Bloomberg     4th October 2021 The global economy is entering the final quarter of 2021 with a mounting number of headwinds threatening to slow the recovery from the pandemic recession and prove policy makers’ benign views on inflation wrong. The spreading delta variant continues to disrupt schools and workplaces. US lawmakers... 

Fossil fuel firms investing in Africa face 'risk of regulatory action' - US climate envoy

By: Reuters     1st October 2021 Western fossil fuel companies investing in Africa face a significant risk of regulatory action that's getting more explicit as the world moves to try to tackle dangerous climate change, a US climate envoy said on Friday. During a virtual media briefing while in South Africa as part of a... 

Welding solutions provider breaks into mining

By: Theresa Bhowan-Rajah     1st October 2021 With its extensive experience in the welding industry, cutting tool solutions provider First Cut states that it has “only just begun to scratch the surface” in building a customer base in the mining industry. “We have assembled a team of individuals with experience in sales, training and product... 

Messer cylinder pressure regulator on white background
BREAK THROUGH First Cut aims to become one of the major suppliers of quality welding and oxy-fuel products to the South African mining market

Australian resource exports set for record heights

By: Esmarie Iannucci     30th September 2021 New data from the Office of the Chief Economist has predicted that Australia’s resources and energy exports will earn a record A$349-billion for 2021-22. This forecasted earning was up from the A$310-billion reported in 2020-21, and will be driven by a strong recovery for coal and despite lower... 

Image shows container ship at Port Hedland

Beach signs gas deal with BP, sets out future growth aspirations

By: Esmarie Iannucci     28th September 2021 Oil and gas major Beach Energy has struck a heads of agreement (HoA) with BP in Singapore, to sell its share of liquefied natural gas (LNG) from the from Waitsia Gas Project Stage 2. Beach and JV partner Mitsuie E&P Australia last year committed to the initial funding for the 250 TJ/d Waitsia... 

Arctic oil and gas exploration is booming despite climate fears

By: Bloomberg     23rd September 2021 Oil and gas companies are being bankrolled by some of the biggest names in finance to tap the Arctic’s vast natural wealth even as warnings grow about the melting ice cap due to man-made global warming. Gazprom, ConocoPhillips and TotalEnergies are among energy firms expanding their fossil-fuel... 

Onshore gas development safe - Appea

By: Esmarie Iannucci     23rd September 2021 A landmark four-year environmental study into onshore gas resource development in Queensland, South Australia and the Northern Territory has indicated that the resource can be developed safely. The Australian Petroleum Production and Exploration Association (Appea) said this week that the... 

Strategic plans unveiled for North Bowen and Galilee basins

By: Esmarie Iannucci     23rd September 2021 The federal government has unveiled the North Bowen and Galilee Basin Strategic Basin Plan, aimed at turbocharging economic development and jobs in central Queensland by unlocking the gas resources in the North Bowen and Galilee basins. “The plan supports industry to develop the region’s major... 

Canada’s oil industry seeks support from re-elected Trudeau

By: Bloomberg     21st September 2021 Canada’s largest oil and natural gas lobbying group is calling for support from re-elected Prime Minister Justin Trudeau following an election campaign that featured vows to cut the industry’s emissions. “This election result reaffirms the uncertainty in Canada as we continue to struggle with... 

Shell divests of Permian assets

By: Esmarie Iannucci     21st September 2021 Oil and gas major Shell has struck a $9.5-billion agreement to sell its Permian business to ConocoPhillips, subject to regulatory approvals. Shell’s Permian business includes ownership in approximately 225 000 acres with current production of around 175 thousand barrels equivalent per day. 

Canada's oil patch heading for hospital triage with virus raging  

By: Bloomberg     20th September 2021 Canada’s oil heartland of Alberta has been hit with its most dangerous Covid-19 wave, with hospital intensive care beds filling up so quickly that health professionals are preparing to make decisions about who lives and who dies. Provincial Premier Jason Kenney announced new isolation measures... 

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