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Oil and Gas News

Third consecutive year of coal export decline from Richards Bay Coal Terminal  

By: Martin Creamer     27th January 2021 Coal exports from South Africa’s Richards Bay Coal Terminal (RBCT) last year declined for the third consecutive year, with the 70.2-million tons exported to mainly Asia and single-digit percentages to Africa and Europe, taking exports back to what they were in 2013. In 2020, two-million fewer... 

Beach readies for Waitsia Stage 2

By: Esmarie Iannucci     27th January 2021 Energy major Beach Energy has reported an 8% fall in production for the December quarter, compared with the three months to September, as operations were impacted by maintenance at the Otway gas plant during November. Production in the December quarter reached 6.2-million barrels of oil... 

Oil Search has solid quarter

By: Esmarie Iannucci     27th January 2021 ASX-listed Oil Search has reported a solid quarter of production during the three months to December, with its Papua New Guinea (PNG) liquefied natural gas (LNG) project delivering record annual production. Total production for the fourth quarter ended December reached 7.06-million barrels of... 

Senex continues to grow

By: Esmarie Iannucci     22nd January 2021 ASX-listed Senex Energy has reported a 16% increase in production and a 26% increase in sales revenue for the quarter ended December, as the ramp-up of its Atlas operation, in the Surat basin, continues. Quarterly production reached 4.3 PJ during the three months to December, up 16% on the... 

Platinum group metals demand set to overwhelm supply balance – Davis  

By: Martin Creamer     21st January 2021 Long-serving precious metals consultant Dr David Davis has reached the conclusion, after a comprehensive study, that the demand for platinum group metals (PGMs) is poised to outstrip stagnant supply. Davis, who has spent several months carrying out a ‘deep dive’ into the future of PGMs for... 

Precious metals consultant Dr David Davis, who believes that platinum will be next to board the price rocket.
Precious metals consultant Dr David Davis, who believes that platinum will be next to board the price rocket.

Santos sets annual record

By: Esmarie Iannucci     21st January 2021 Oil and gas major Santos has reported record annual production for the year ended December, with production reaching the top-end of the company’s previously upgraded guidance. Annual production reached 89-million barrels of oil equivalent in the 12 months to December, an 18% increase on the 2019... 

Govt secures more domestic gas for east coast

By: Esmarie Iannucci     21st January 2021 The Australian government has inked a new heads of agreement with east coast liquefied natural gas (LNG) companies that will ensure more gas is offered to the domestic market, more often, and on more competitive terms. The Agreement, signed by Prime Minister Scott Morrison and LNG exporters,... 

Record production and new hydrogen for Woodside

By: Esmarie Iannucci     21st January 2021 Energy major Woodside on Thursday reported record annual production of 100.3-million barrels of oil equivalent for the 12 months ended December, despite a 2% fall in the December quarter production. Annual production in 2020 was 12% higher than that achieved in 2019. 

For Trudeau, life after Trump is off to surprisingly rocky start

By: Bloomberg     21st January 2021 President Joe Biden’s cancellation of the Keystone XL project has put Justin Trudeau in a no-win situation. He has no good options to retaliate. But a failure to fight back could fracture the unity of his own country. Biden revoked the permit for TC Energy Corp.’s oil pipeline via executive... 

Canadian Prime Minister Justin Trudeau
Canadian Prime Minister Justin Trudeau

Biden to bar Keystone pipeline in reversal of early Trump move

By: Bloomberg     20th January 2021 Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump. In one of his first major environmental actions, Biden will revoke TC... 

Biden to bar Keystone pipeline in reversal of early Trump move

FAR advances Woodside transaction

By: Esmarie Iannucci     20th January 2021 ASX-listed FAR has inked a sale and purchase agreement with energy major Woodside over its rights over the Rufisque offshore, Sangomar offshore and Sangomar deep offshore (RSSD) contract area, offshore Senegal. Woodside last year exercised its pre-emptive right to FAR’s interest in the RSSD... 

Platinum group metals playing role in Switzerland’s green hydrogen roll-out  

By: Martin Creamer     19th January 2021 Platinum group metals (PGMs), which South Africa hosts in greater abundance than any other country on earth, are playing important catalytic roles in Switzerland’s green hydrogen and green truck rollout, which is now under way. Mining Weekly can today report that proton exchange membrane (PEM)... 

Hyundai Hydrogen Mobility CEO Mark Freymueller
Hyundai Hydrogen Mobility CEO Mark Freymueller is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

LNG exports reach record highs for Aus

By: Esmarie Iannucci     19th January 2021 Australia exported a record 78-million tonnes of liquefied natural gas (LNG) during 2020, new data from EnergyQuest has revealed. The exported tonnage for 2020 was up from the 77.5-million tonnes exported in 2019, and was a strong result given disruptions at the Gorgon LNG project, and the... 

Keystone XL may be sold for scrap if Biden moves to kill project

By: Bloomberg     19th January 2021 The Canadian province that invested $1.1-billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds. “If the project ends, there would be assets that could be sold, such as enormous quantities of pipe,”... 

US president-elect Joe Biden's campaign promise to cancel the crude pipeline’s licence is haunting the Canadian oil sands industry.
US president-elect Joe Biden's campaign promise to cancel the crude pipeline’s licence is haunting the Canadian oil sands industry.

Want a fuel cell, you need platinum – analysts 

By: Martin Creamer     18th January 2021 If you want a fuel cell, you need platinum, is one of the multiplicity of points Bernstein investment company makes in a major work just released, which shows growing and ongoing demand for platinum group metals (PGMs) and provides ample reason why metals and mining matter more than ever. In the... 

Predicted future PGM tons heading high.
Photo by Bernstein
Predicted future PGM tons heading high.

Offtake secured for Woodside's Scarborough

By: Esmarie Iannucci     18th January 2021 Oil and gas major Woodside has agreed to double its supply of liquefied natural gas (LNG) to Uniper Global Commodities under amendments to a binding long-term sales and purchase agreement inked at the end of 2019. Initial supply will start in 2021, with Woodside to supply up to one-million tonnes... 

Offtake secured for Woodside's Scarborough

Coal price expected to average $100/t as China turns to South Africa for coal 

By: Martin Creamer     15th January 2021 China is buying South African coal at a time when analysts are forecasting a buoyant average coal price of $100/t for the first half (H1) of 2021. The purchase of South African coal by China follows Chinese relations with Australia deteriorating last year and imports of coal from Australia being... 

Richards Bay Coal Terminal, from which South African coal is exported.
Richards Bay Coal Terminal, from which South African coal is exported.

Worker missing after bulldozer falls through icy pond at Suncor oil sands plant

By: Reuters     15th January 2021 A worker is missing at Suncor Energy's oil sands base plant in northern Alberta after a bulldozer fell through ice on a disused tailings pond, the company said on Thursday. It is the second serious incident at a Suncor plant in three weeks. On December 28 two workers were killed at the company's... 

Chamber motivates for local participation

By: Mc'Kyla Nortje     15th January 2021 With the current liquefied natural gas (LNG) projects under way in Mozambique, Mozambique Oil and Gas Chamber executive chairman Florival Mucave notes that government needs to ensure that there are rules and regulations in place to encourage local participation. Mozambique has a unique... 

FLORIVAL MUCAVE 
The chamber will foster relations between members and their counterparts as well as develop a platform of companies providing goods and services
FLORIVAL MUCAVE The chamber will foster relations between members and their counterparts as well as develop a platform of companies providing goods and services

More sales of South African coal to China expected as prices rise

By: Martin Creamer     14th January 2021 About 600 000 t to 700 000 t of South African coal have already moved to China since the Asian giant ceased accepting coal from Australia and more South African coal sales to China are expected “for sure”, a top trader said in an interview with Mining Weekly. China’s power plants have been... 

Richards Bay Coal Terminal, South Africa's world-class coal export port.
Richards Bay Coal Terminal, South Africa's world-class coal export port.

Infrastructure spend planned for Beetaloo basin

By: Esmarie Iannucci     14th January 2021 The Australian government has announced a A$217-million investment to upgrade and develop roads in the Northern Territory, to open up the Beetaloo basin for major gas projects. The Gas Industry Roads Upgrades programme, which will be funded through the Roads of Strategic Importance (Rosi)... 

China buying South African coal ‘could be game-changer but we shouldn’t be complacent’ 

By: Martin Creamer     13th January 2021 Normally, China does not import coal from South Africa, but 2021 has seen a shift. Shipments to mainland China were reported on Monday by the African Source Markets’ Weekly Coal Index Report. 

Richards Bay Coal Terminal, the port from which South African coal is exported
Richards Bay Coal Terminal, the port from which South African coal is exported

The UAE warns US shale companies against pumping more oil

By: Bloomberg     13th January 2021 Any attempt by US shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged in the past two months with the development of coronavirus vaccines. They jumped again last week... 

Norway eyes sea change in deep dive for metals instead of oil

By: Reuters     13th January 2021 Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now centre on something different. This time, Oslo is looking for a leading role in mining copper, zinc and other metals found on the seabed and in hot demand in green... 

The essential role of platinum group metals in ‘greening’ the world needs highlighting 

By: Martin Creamer     12th January 2021 The ‘greenness’ that South Africa can help bestow on the world needs hard sell now, Mining Weekly can today report. While South Africa’s amazing platinum group metals (PGMs) continue their decades-long task of cleaning the air of the world’s cities in the autocatalytic convertors of vehicle... 

'Green' hydrogen and fuel cells named by Lux Research as two of top-five energy technologies.
Photo by Hyundai Truck & Bus
'Green' hydrogen and fuel cells named by Lux Research as two of top-five energy technologies.

New ‘green’ platinum project leaps out of starting blocks, will use 82% less electricity  

By: Martin Creamer     11th January 2021 The innovative new platinum group metals mining and processing project that slashes 82% off electricity use and elevates platinum to a new high level of greenness, leapt out of its starting blocks in North West province on Monday. “We’ve commenced. The tanks are rolling,” Pallinghurst managing... 

Arne Frandsen
Pallinghurst managing partner and co-founder Arne Frandsen is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

M&R subsidiary Clough secures Waitsia Stage 2 construction, engineering contract

By: Donna Slater     11th January 2021 JSE-listed engineering and construction group Murray & Roberts reports that its subsidiary, construction and engineering company Clough, has been awarded a A$400-million contract for an engineering, procurement and construction scope of work on the Waitsia Stage 2 development project in Western... 

Strike to pursue A$2.3bn urea project in WA

By: Esmarie Iannucci     11th January 2021 ASX-listed Strike Energy on Monday announced plans to advance its Project Haber urea project, in Western Australia. The A$2.3-billion project would consist of a 1.4-million-tonne-a-year urea production facility processing gas from Strike’s Greater Erregulla development, in the Perth basin. The... 

Exporting the US shale boom has changed oil markets forever

By: Bloomberg     8th January 2021 Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first US shale crude shipment overseas. The oil, gathered from nearby ConocoPhillips wells and sold to trading giant Vitol Group, set sail for Italy just two weeks after lawmakers lifted a long-standing ban on... 

FAR awaits possible takeover offer

By: Esmarie Iannucci     8th January 2021 ASX-listed FAR will postpone a shareholders meeting to vote on the sale of its share in the in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture (JV), in Senegal, to partner Woodside, as it awaits a formal offtake offer from Remus Horizons PCC. FAR in... 

US company planning at least 500 hydrogen fuelling stations in next 3 to 5 years  

By: Martin Creamer     7th January 2021 The creation of a minimum of 500 fuelling stations to provide hydrogen to mainly trucks powered by platinum-catalysed hydrogen fuel cells is planned by a US company in the next three to five years. “We believe that everyone will be within a couple of miles of a hydrogen fuelling station in the... 

Plans under way to develop hydrogen fuelling stations for platinum-catalysed fuel cell vehicles.
Creamer Media’s Mining Weekly interviews RAGHU KILAMBI, the CEO of PowerTap, a company that provides crucial hydrogen fuelling infrastructure for fuel cell electric vehicles.

Armour formalises Santos deal

By: Esmarie Iannucci     6th January 2021 ASX-listed Armour Energy has struck a formal sales and purchase agreement with oil and gas producer Santos over its remaining interests in several South Nicholson basin permits. Armour in December flagged a binding term sheet for the sale of its remaining 30% interest in the South Nicholson... 

South African stocks climb as haven demand boosts gold miners

By: Bloomberg     5th January 2021 South African stocks advanced for a second day, boosted by gold producers as demand for haven assets supported bullion prices amid the latest news on the coronavirus pandemic. The main Johannesburg stock index was 0.4% higher as of 9:36 a.m., after climbing 1.8% in the first trading session of 2021. 

Santos to spend $235m in Timor Sea

By: Esmarie Iannucci     5th January 2021 The board of oil and gas major Santos has taken a final investment decision on the $235-million Phase 3C infill drilling programme at the Bayu-Undan field, in the Timor Sea. The programme will comprise of three production wells and will develop additional natural gas and liquids reserves,... 

Santos to spend $235m in Timor Sea

Woodside completes Cairns deal

By: Esmarie Iannucci     4th January 2021 ASX-listed Woodside in December completed the acquisition of Capricorn Senegal Limited’s (Cairn) entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture (JV), in Senegal. The purchase price was $300-million plus a working capital... 

NWS signs third party toll agreements

By: Esmarie Iannucci     4th January 2021 Oil and gas producer Woodside in December reported that the North West Shelf (NWS) project participants had executed fully-termed gas processing agreements (GPAs) for processing third-party gas through the NWS project facilities. Gas from Woodside’s Pluto fields, along with gas from the... 

Govt invests in Beetaloo exploration

By: Esmarie Iannucci     17th December 2020 The Australian government on Thursday announced plans to accelerate gas exploration and development in the Northern Territory’s Beetaloo sub-basin, providing up to A$50-million for exploration taking place before the end of June 2022. Federal Resources Minister Keith Pitt said that the push for... 

WoodMac expects M&A uptick in 2021

By: Esmarie Iannucci     16th December 2020 Australia is expected to headline merger and acquisition (M&A) activities in the liquefied natural gas (LNG) sector in 2021, advisory firm Wood Mackenzie (WoodMac) has predicted. WoodMac Asia Pacific vice chairperson Gavin Thompson noted that M&A activity is expected to resume over the next 12... 

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