R/€ = 19.08 Change: 0.03
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Oil and Gas News

The global oil market is broken, drowning in crude nobody needs

By: , Bloomberg     30th March 2020 The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many markets are full, forcing traders to store excess oil in idle supertankers. Refineries are starting to shut down because nobody needs... 

Proudly South African hydrogen breakthrough with Shell’s backing 

By: Martin Creamer     30th March 2020 At this time of huge coronavirus uncertainty, the chests of a group of engineers here must surely be bulging with pride following their major Proudly South African world breakthrough that could speed up the global deployment of hydrogen as a competitive universal and environmentally friendly... 

Proudly South African hydrogen breakthrough with Shell’s backing
Photo by Hydrox Holdings
Hydrox Holdings membraneless electrolyser.

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

Gas supply assured until 2023 - AEMO

By: Esmarie Iannucci     27th March 2020 Latest data from the Australian Energy Market Operator (AEMO) has confirmed that actions taken by the industry to bring more gas into the domestic market will ensure domestic gas supply to at least 2023. In its 2020 Gas Statement of Opportunities, AMEO noted that the outbreak of the Covid-19... 

Woodside confirms FID delays and cost cuts

By: Esmarie Iannucci     27th March 2020 Oil and gas major Woodside has announced a number of measures to protect its balance sheet during the COVID-19 pandemic, including the deferral of targeted final investment decisions for its Scarborough, Pluto Trian 2 until 2021, as well as delaying the final investment decision for the Browse... 

Woodside confirms FID delays and cost cuts

Aus LNG projects likely to be deferred - Woodmac

By: Esmarie Iannucci     26th March 2020 The global sweep of COVID-19 and the resultant fall in oil prices is likely to delay Australia’s next wave of liquefied natural gas (LNG) projects, advisory firm Wood Mackenzie (Woodmac) said on Thursday. Oil and gas major Santos has already said that the final investment decisions (FIDs) on its... 

Aus LNG projects likely to be deferred - Woodmac

Global mining majors putting bright new spotlight on green hydrogen 

By: Martin Creamer     25th March 2020 Three years ago the Hydrogen Council catapulted hydrogen to the forefront as a source of energy for transport and industrial companies. Now mining majors are putting the spotlight on hydrogen once again with the launch of the Green Hydrogen Consortium, which Hatch marketing coordinator Alana... 

Global mining majors putting bright new spotlight on green hydrogen
Liquid organic hydrogen carrier (LOHC) technology renders hydrogen oil-like.

Job cuts not permanent - Woodside

By: Esmarie Iannucci     25th March 2020 Oil and gas major Woodside on Wednesday moved to allay employment concerns, telling Mining Weekly Online that recent staff cuts would not be permanent. The Australian Workers Union earlier this week claimed that some 900 staff has been stood down at Woodside’s operations as part of the... 

Qld releases gas acreage

By: Esmarie Iannucci     25th March 2020 The Queensland government has granted two junior explorers the right to explore and develop gas on 164 km2 of highly prospective land in south-west Queensland. Mines Minister Dr Anthony Lynham said the blocks were close to existing gas infrastructure and near Australia’s gas hub in Wallumbilla... 

Woodside cuts 900 staff - AWU

By: Esmarie Iannucci     24th March 2020 The Australian Worker’s Union (AWU) has lashed out at oil and gas major Woodside, claiming that it had stood down 500 of its workers both at the Karratha gas plant and at the Pluto liquefied natural gas (LNG) project “without a word of explanation or a dollar of compensation”. The AWU said that... 

Sasol appoints Harper to board, audit committee

By: Marleny Arnoldi     23rd March 2020 JSE-listed petrochemicals company Sasol has appointed Katharine Harper independent nonexecutive director and audit committee member, effective April 1. Harper, who is based in the US, is currently the CFO of global logistics company BDP International. She also serves as a nonexecutive director... 

Oil and gas producers in for tough times - Woodmac

By: Esmarie Iannucci     23rd March 2020 The upstream oil and gas sector was facing unprecedented uncertainty with the massive fall in the oil price and the uncertain market environment brought on by Covid-19, industry analyst Wood Mackenzie (Woodmac) has reported. In a research note, Woodmac noted that the upstream oil and gas sector’s... 

Santos defers Barossa and PNG expansion plans

By: Esmarie Iannucci     23rd March 2020 Oil and gas major Santos has announced plans to cut planned capital expenditure and reduce production costs in response to the Covid-19 pandemic and the falling oil prices. The ASX-listed company would reduce planned capital expenditure for 2020 by some A$550-million, or 38%, while also... 

Santos defers Barossa and PNG expansion plans

Oil Search takes precautionary measures in PNG

By: Esmarie Iannucci     23rd March 2020 ASX-listed Oil Search has placed staff and operations in Papua New Guinea (PNG) on lockdown after that country reported its first cast of COVID-19. Oil Search on Monday said that the company has been monitoring COVID-19 since early in the year, and had established a taskforce to proactively... 

Australian oil and gas supply secure - Appea

By: Esmarie Iannucci     20th March 2020 The Australian Petroleum Production and Exploration Association (Appea) and the Australian Pipelines and Gas Association (APGA) on Friday said that their members were working to ensure the delivery of essential gas supply to local customers amid the Covid-19 outbreak. Appea CEO Andrew McConville... 

Oil Search cuts expenses as markets tumble

By: Esmarie Iannucci     18th March 2020 Oil and gas producer Oil Search has cut its capital expenditure for 2020 from between $710-million and $845-million, to between $440-million and $530-million on the back of global market volatility. The company told shareholders on Wednesday that forecast capital expenditure going forward from... 

Australia's Victoria moves to lift onshore gas ban

By: Esmarie Iannucci     17th March 2020 The Victorian government has introduced legislation to lift the moratorium on onshore gas exploration and production, while moving to permanently ban hydraulic fracturing (fracking). The government will be introducing two Bills to Parliament on Tuesday, the first of which would enshrine the ban... 

Australia's Victoria moves to lift onshore gas ban

Oil falls deeper into turmoil triggered by epic demand collapse

By: , Bloomberg     16th March 2020 Oil’s spectacular collapse deepened as widening global efforts to fight the spread of coronavirus were set to trigger the most severe contraction in annual oil demand in history. Futures tumbled by more than 6% after plunging by a quarter last week -- the largest drop since 2008. Even a massive... 

Shares in South Africa's Sasol jump nearly 30% as oil price recovery sparks buying

By: Reuters     13th March 2020 Shares in South African petrochemicals group Sasol surged nearly 30% on Friday as a recovery in oil prices sparked buying of the stock, which was pummelled in the previous session. Brent crude prices rose over 3% on Friday after falling more than 7% the day before, a drop which helped send Sasol... 

South Australia to benefit from Katnook plant

By: Esmarie Iannucci     13th March 2020 South Australia is poised to benefit from the redevelopment of the Katnook natural gas processing facility, after the federal government provided a A$6-million grant as part of its Gas Acceleration Program. The new gas plant, which is operated by ASX-listed Beach Energy, will process raw natural... 

Sasol confirms possible equity issue as it breaks silence amid massive sell-off

By: Terence Creamer     12th March 2020 Chemicals and energy group Sasol, which has seen its market capitalisation decimated in recent days as a result of a series of adverse developments, including a ratings downgrade, a big slump in the oil price and Covid-19-induced market volatility, broke its silence on Thursday afternoon when it... 

Sasol confirms possible equity issue as it breaks silence amid massive sell-off

Johannesburg stocks plunge most since 1997 in ‘panic’ sell-off

By: , Bloomberg     12th March 2020 South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to US measures aimed at curbing the spread of the coronavirus accelerated the sell-off sweeping through global equities. The FTSE/JSE Africa All Share Index sank as much as 9.3% as of 3:34... 

Gas flow starts at Sol

By: Esmarie Iannucci     12th March 2020 First gas has flown from the Sole gas project, offshore Victoria, to the Orbost gas processing plant, ASX-listed Cooper Energy reported this week. The first gas flow marked a critical milestone for the project, allowing for the second and final phase of the commissioning. 

Oil’s biggest crash in a generation has silver lining for miners

By: , Bloomberg     12th March 2020 The financial turmoil crushing industrial-metals equities has a silver lining: lower energy prices can be a boon to miners. “It’s a big positive,” said David Harquail, CEO of streaming and royalties company Franco-Nevada. Fuel is a key operating cost for miners because it’s needed to run the... 

Oil’s biggest crash in a generation has silver lining for miners

LSE-listed MMM seeks African natural resources investments

By: Tasneem Bulbulia     11th March 2020 Acquisitions company Mining, Minerals & Metals (MMM) has listed on the LSE. The company was established to undertake acquisitions of businesses that are involved in natural resources exploration. 

Opec sees no oil demand growth in 2020 as virus batters forecast

By: , Bloomberg     11th March 2020 Opec expects there will effectively be no growth in global oil demand this year, slashing its forecasts as the coronavirus hits the world economy. Having expected a month ago that fuel consumption would increase by just under 1-million barrels a day, or 1%, in 2020, the group said in a report on... 

Woodside committed to Scarborough development

By: Esmarie Iannucci     11th March 2020 Oil and gas major Woodside is committed to the development of the Scarborough gas field, offshore Western Australia, despite the tumbling oil prices and the volatile price environment for liquefied natural gas (LNG). Reports emerged last week that the $11.4-billion project could be delayed as... 

LNG producers open doors to SMEs

By: Esmarie Iannucci     11th March 2020 Liquefied natural gas (LNG) producers Chevron, Woodside, Santos and Shell have volunteered to submit their annual procurement forward work plans to the Western Australian state government as part of an initiative to help local businesses in taking advantage of employment opportunities. Western... 

APLNG and Armour join forces in Qld gas

By: Esmarie Iannucci     11th March 2020 The Queensland Department of Natural Resources, Mines and Energy has granted a petroleum production license to a joint venture (JV) between Australian Pacific Liquefied Natural Gas (APLNG) and ASX-listed Armour Energy. The petroleum production licence covers an 18 km2 coal seam gas exploration... 

Amid Saudi-Russian oil price war, other Opec States sound alarm

By: Reuters     11th March 2020 While Opec's de facto leader Saudi Arabia trades blows in a war for market share with Russia after their three-year pact to cut oil supplies collapsed last week, other Opec States are already sounding the alarm over plunging oil prices. Crude lost as much as a third of its value this week after... 

Oil rout tests Canadian energy producers' cost-cutting drive

By: , Bloomberg     9th March 2020 The global oil price war may take a heavy toll on the Canadian energy industry, which still hasn’t fully recovered from the last crash that started in 2014. Canadian producers were struggling with a shortage of pipeline space that has weighed on local crude prices and limited their growth... 

IEA expects 90 000 bbl/d fall in oil demand as a result of Covid-19

By: Marleny Arnoldi     9th March 2020 The International Energy Agency (IEA) expects global oil demand to decline this year as the impact of the Covid-19 virus continues to spread around the world. The extent of the global impact of the virus is still uncertain, but demand for oil has nonetheless dropped for the first time since... 

IEA expects 90 000 bbl/d fall in oil demand as a result of Covid-19

BHP moves ahead with Trion work

By: Esmarie Iannucci     9th March 2020 Diversified major BHP has confirmed the contractors appointed for the pre-front-end engineering design, or FEED, design competition for the Trion floating production unit. The miner has confirmed that SBM Offshore USA, Technip USA, Genesis North America and McDermott have been selected to... 

Oil drops 31% in worst loss since Gulf War as price fight erupts

By: , Bloomberg     9th March 2020 Oil markets crashed more than 30% after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences. Brent futures suffered the second-largest decline on record in the opening seconds... 

Oil drops 31% in worst loss since Gulf War as price fight erupts

Opec+ on brink of failure as Russia resists deeper oil cuts

By: , Bloomberg     6th March 2020 Russia resisted pressure from its Opec allies to make deeper production cuts, pushing the cartel’s high-stakes diplomatic gamble to the brink of failure and sending prices plunging. Energy Minister Alexander Novak arrived from Moscow on Friday morning and told fellow ministers that he favored... 

More gas tipped for East Coast

By: Esmarie Iannucci     6th March 2020 The Gippsland Basin joint venture (JV) between heavyweight BHP and ExxonMobil Australia, is expected to deliver more gas into the Australian domestic market by next year. Exxon subsidiary Esso Australia has reached total depth on the first of its two West Barracouta gas wells, in the Bass... 

More gas tipped for East Coast

Top court declines to hear Trans Mountain challenges

By: , Bloomberg     6th March 2020 The Supreme Court of Canada declined to hear five challenges to the Trans Mountain oil pipeline expansion, adding to recent legal momentum for the project. The court on Thursday denied applications from project opponents such as the Squamish and Tsleil-Waututh First Nations and the Raincoast... 

M&R’s order book rises to R50.8bn on back of oil and gas platform recovery

By: Terence Creamer     4th March 2020 Specialised engineering and construction group Murray & Roberts (M&R) reported on Wednesday that its order book had increased to R50.8-billion during the interim period to the end of December, up 60% on the R31.7-billion level reported for the corresponding period in the previous year. The... 

M&R’s order book rises to R50.8bn on back of oil and gas platform recovery
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