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Oil and Gas News
Santos flags cost savings at Barossa
By: Esmarie Iannucci 24th March 2021 Oil and gas major Santos on Wednesday announced that it had cut some $1-billion in expected capital expenditure from its $3.6-billion Barossa joint venture (JV). Santos has awarded a construction, connection and operation contract for the flotation production, storage and offloading (FPSO) JV to... →
Remote-operation drilling footprint providing sizeable benefit – Master Drilling 
By: Martin Creamer 23rd March 2021 An increased remote-operation drilling footprint is providing considerable benefit for Master Drilling, the JSE-listed drilling services company said on Tuesday, when it reported 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to $42.1-million, and a halved gearing ratio to... →
Appea calls for govt support in Australia
By: Esmarie Iannucci 19th March 2021 The Australian Petroleum Production and Exploration Association (Appea) has called on the Australian governments to support the oil and gas industry as it continues to support the national economy. Speaking at the Regional Australia Institute’s Regions Rising National Summit in Canberra, Appea... →
A$50m in grants for Beetaloo exploration
By: Esmarie Iannucci 19th March 2021 The oil and gas industry has welcomed a A$50-million federal government grant to support and accelerate exploration in the Beetaloo basin, in the Northern Territory. Minister for Resources, Water and Northern Australia Keith Pitt said the grants will be provided through the Beetaloo Cooperative... →
Biden’s Keystone pipeline cutoff draws suit by Texas, red states
By: Bloomberg 18th March 2021 Texas and other red states sued the Biden administration for rescinding permission to build the $8-billion Keystone XL pipeline after the Trump administration supported it. President Joe Biden lacks unilateral authority to change energy policy set by Congress, according to a complaint filed in a... →
Exxaro eyeing 84 MW solar power for coal mine, hydrogen fuel cells
By: Martin Creamer 18th March 2021 South Africa is at crossroads of energy liberalisation with 2.5 GW of embedded mining demand, including 84 MW demand at Exxaro Resources’ Grootegeluk coal mine alone and the intended use of hydrogen fuel cell powered trucking, Exxaro Resources said on Thursday. “Energy is the largest single... →
BP plans UK's largest blue hydrogen production facility
By: Reuters 18th March 2021 Oil and gas major BP said on Thursday it was developing plans for the UK's largest blue hydrogen production facility, expanding its investments in carbon reduction technologies to tackle global warming. Governments and energy companies are placing large bets on clean hydrogen and carbon capture... →
IEA says oil demand likely to rise until 2026
By: Marleny Arnoldi 17th March 2021 Based on the current policy settings, global oil demand is set to rise every year to 2026, says the International Energy Agency (IEA). Although world oil markets have rebounded from the massive demand shock triggered by Covid-19, they still face a high degree of uncertainty that is testing the... →
What countries will fight over when green energy dominates
By: Bloomberg 16th March 2021 The Rand Corporation’s been designing war games with the Pentagon since the 1950s, modelling such hard-nosed security scenarios as a two-front US war with China and Russia. Now the think tank is turning its realpolitik tool kit to a question more often associated with environmental dreamers: How... →
Woodside delivers first carbon offset cargo
15th March 2021 Oil and gas major Woodside and its joint venture (JV) partners in the Pluto liquefied natural gas (LNG) project have delivered the first cargo of carbon offset condensate to independent commodity trading company Trafigura. Woodside noted that the carbon dioxide equivalent emissions associated... →
Just clearing exploration backlog would be huge leap forward – Miller
By: Martin Creamer 12th March 2021 Ahead of tackling policy issues, incremental ongoing effort must be prioritised to clear South Africa’s huge mineral exploration and mining rights backlog, says AmaranthCX director Paul Miller. The backlog currently stands at more than 5 000 unprocessed exploration applications and 235... →
Santos gets more ground in Qld
By: Esmarie Iannucci 12th March 2021 Oil and gas major Santos has been granted an authority to prospect (ATP) over a 764 km2 parcel of land in the gas rich Bowen and Surat basins, which could lead to more gas becoming available to the domestic market. Queensland Resources Minister Scott Stewart on Friday said that the state... →
LNG should earn its place in energy mix - Woodside
By: Esmarie Iannucci 10th March 2021 Energy major Woodside on Wednesday said that liquefied natural gas (LNG) would need to earn its place by being both low carbon and cost competitive, given the increasing focus on combating climate change. Speaking at the Australasian Oil and Gas conference, in Perth, Woodside executive VP for... →
Santos shareholder sells significant stake
By: Esmarie Iannucci 9th March 2021 Oil and gas major Santos has confirmed that shareholder ENN Group had offloaded a 5.14% stake in the company. ENN has sold some 107.1-million shares in Santos, at a price of A$7.33 a share, with Santos telling shareholders that the sale process had been oversubscribed and had received strong... →
Senex signs new offtake with CleanCo
By: Esmarie Iannucci 9th March 2021 ASX-listed Senex Energy has inked a domestic gas sales agreement with power generator CleanCo Queensland for 2.55 PJ of natural gas in 2022. Senex said on Tuesday that the one year agreement brought the company’s total contracted volumes with CleanCo to more than 5.1 PJ over the 2020-22 period →
Report finds majority of extractive commodity traders lack ESG disclosure
By: Marleny Arnoldi 8th March 2021 Swiss research organisation RMF finds in a new report that companies involved in oil, gas, metals or minerals trading score on average only 23% on environmental, social and governance (ESG) due diligence. The report, titled 'ESG Due Diligence and Transparency Report on Extractive Commodity... →
Mines anywhere, everywhere can go green – Hydrogen Optimized
By: Martin Creamer 8th March 2021 Owing to the ubiquity of the world’s sun and the wind, all mines have the opportunity to generate their own green electricity no matter where they are located in the world, Hydrogen Optimized CEO Andrew T Stuart emphasised during last week’s Fasken online panel discussion on hydrogen. In this... →
Fasken panel that discussed hydrogen.
Southern Africa has ‘huge potential’ to benefit from the shift to green hydrogen
By: Simone Liedtke 4th March 2021 While there is growing momentum across the world in investing in hydrogen and the related import and export value chains, management consulting company Kearney MD Romain Debarre warns that there is still a lack of supply and demand for the hydrogen economy. While there is a market for hydrogen... →
Armour flags demerger and listing of NT assets
By: Esmarie Iannucci 3rd March 2021 ASX-listed Armour Energy on Wednesday announced plans for a demerger and separate ASX listing for its Northern basin oil and gas business. Armour holds six granted exploration permits and seven exploration permit applications in the McArthur basin, covering some 89 000 km2 in the Northern... →
Senex completes $87.5m sale of Cooper Basin to Beach Energy
By: Donna Slater 1st March 2021 ASX-listed natural gas producer Senex Energy has completed the $87.5-million sale of its south Australian Cooper Basin business to Beach Energy, satisfying the condition for payment of a special 0.5 c apiece dividend to shareholders, in addition to the 0.5 c a piece distribution for the 2021... →
Weekly Coal Index Report
1st March 2021 Even as US coal production continues to slide, and domestic consumption is cut, it emerged that the United States was the major beneficiary of China’s ban on Australian coal imports from the fourth quarter of 2020. This was arguably more for coking coal than thermal coal, but it’s interesting to... →
Company reduces environmental risk through greener blasts
26th February 2021 For over three decades, chemicals manufacturer Omnia Holdings’ subsidiary Bulk Mining Explosives (BME) has been incorporating used oil in its emulsion explosives, making blasting greener and reducing environmental risk. Consequently, the company is the leading consumer of used oil in the... →
Implats pursuing renewables, green hydrogen, exploration, carbon neutrality
By: Martin Creamer 25th February 2021 Platinum group metals (PGMs) mining and marketing company Implats is pursuing green hydrogen, greenfield exploration and carbon neutrality, the company made clear during question time after presenting a stellar set of high-dividend-yielding interim financial results on Thursday, which cut debt by... →
Test mine study under way for Fourth Industrial Revolution try-outs
By: Martin Creamer 24th February 2021 A feasibility study is under way on a mine selected for the testing of Fourth Industrial Revolution (4IR) technologies ahead of their implementation, Minerals Council South Africa senior executive modernisation and safety Sietse van der Woude said on Wednesday. Van der Woude was answering... →
Keystone XL’s death sparks rush to ship oil-sands crude by rail
By: Bloomberg 24th February 2021 US President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks. Cenovus Energy and Imperial Oil have increasingly turned to trains to move their crude, with oil... →
Investment in industry key - Appea
By: Esmarie Iannucci 24th February 2021 The Australian Petroleum Production and Exploration Association (Appea) has called on the incoming state government to attract investment in the resources sector, ahead of the March elections in Western Australia. Appea on Wednesday urged the incoming state government to focus on the investment... →
Supercharged commodity boom: Definitely. Supercycle? Not exactly
By: Bloomberg 23rd February 2021 A surge in commodity prices has Wall Street banks gearing up for the arrival of a new supercycle, but underlying dynamics suggest it isn’t going to be a repeat of the epic China-led boom at the start of this century. Copper heading for new all-time highs, surging agricultural markets and oil... →
Green hydrogen to be produced from solar power at platinum mine
By: Martin Creamer 22nd February 2021 Although platinum group metals (PGMs) mining and marketing company Anglo American Platinum will be starting with a 75 MW solar photovoltaic powered plant at its Mogalakwena mine, planned is an eventual 320 MW of solar power generation, the excess from which will be used to produce green hydrogen.... →
Oil Search starts FEED in Alaska
By: Esmarie Iannucci 22nd February 2021 ASX-listed Oil Search has announced front-end engineering design (FEED) for Phase 1 of its Pikka project, in Alaska. The Phase 1 project would include a single drill site and an 80 000 bbl/d production facility, where first oil is planned for 2025. →
Global decarbonisation rapidly upping demand for Anglo Platinum products
By: Martin Creamer 22nd February 2021 Platinum group metals mining and marketing company Anglo American Platinum said on Monday that it was poised to deliver next phase of value for its stakeholders as decarbonisation efforts increase the long-term demand for its metals. “We are grounded in our purpose to re-imagine mining to improve... →
Sasol abandons rights issue as it secures $3.3bn from asset disposals
By: Terence Creamer 22nd February 2021 Chemicals and energy group Sasol confirmed on Monday that it would no longer pursue a rights issue in light of progress made, through assets sales and cost savings, to shore up its debt-laden balance sheet. In a recorded results presentation, president and CEO Fleetwood Grobler said that the... →
Sasol CEO Fleetwood Grobler
Senex pays first dividend
By: Esmarie Iannucci 22nd February 2021 ASX-listed Senex Energy has started dividend distribution on the back of the successful delivery of its A$400-million Surat basin natural gas development project, which saw revenue and earnings soar in the first half of 2021. Natural gas production in the first half of 2021 was up 271% to 8 PJ,... →
Woodside inks LNG offtake
By: Esmarie Iannucci 19th February 2021 Energy major Woodside has inked a sale and purchase agreement with RWE Supply & Trading GmbH to supply liquefied natural gas (LNG), starting in 2025. Under the seven-year agreement, Woodside would supply some 0.84-million tonnes a year, with the SPA not subject to final investment decision... →
Sibanye assessing on-site green hydrogen generation to power fuel cell mobility
By: Martin Creamer 18th February 2021 Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen... →
Santos profits fall by 153%
By: Esmarie Iannucci 18th February 2021 Oil and gas major Santos has reported a 153% decline in profits after tax for the 2020 financial year, with the company swinging to a net loss of $357-million. Santos on Thursday reported record annual production of 89-million barrels of oil equivalent for the full 2020, along with sales volumes... →
Woodside swings to a loss
By: Esmarie Iannucci 18th February 2021 Despite reporting record full year production for 2020, oil and gas producer Woodside has announced a net loss after tax of $4.02-billion on the back of non-cash impairments and ‘onerous’ contract provisions. Woodside on Thursday announced that production for the full year was up 12%, to... →
Glencore ready to support transition to low-carbon economy – Glasenberg
By: Martin Creamer 16th February 2021 Diversified mining and marketing company Glencore is ready to support the transition to a low-carbon economy, CEO Ivan Glasenberg said on Tuesday when the company reported finishing 2020 with earnings before interest tax depreciation and amortisation (Ebitda) of $11.6-billion, Covid-19... →
Sufficient gas to meet east coast demand, for now - ACCC
By: Esmarie Iannucci 16th February 2021 The Australian Competition and Consumer Commission (ACCC) has released its latest Gas inquiry 2017-2025 Interim Report which has confirmed that there is currently no shortfall in the domestic gas market. The report noted that domestic gas prices fell significantly during the past year, driven in... →
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