R/€ = 19.37 Change: 0.11
R/$ = 17.40 Change: 0.14
Au 1738.47 $/oz Change: 17.38
Pt 847.97 $/oz Change: 16.03

Oil and Gas News

Teck oil sands project splits Canada's indigenous people, poses challenge for Trudeau

By: Reuters     22nd January 2020 A proposed Canadian oil sands mine has split the country's indigenous people, compounding the challenges facing Prime Minister Justin Trudeau's government as it decides whether to approve the project. Teck Resources would build the C$20.6-billion Frontier mine 110 km north of Fort McMurray,... 

World risks 'disaster' as reuse of natural resources declines

By: Reuters     21st January 2020 The proportion of raw materials the world is reusing has fallen, researchers said on Tuesday, warning of a "global disaster" as annual consumption of natural resources rose to 100-billion tonnes for the first time. Just 8.6% of the 100-billion tonnes of materials – including minerals, metals,... 

India scraps green clearances for hydrocarbon exploratory projects

By: Ajoy K Das     20th January 2020 In a controversial move triggering ire among environmentalists, the Indian government has loosened key regulations for offshore and onshore hydrocarbon exploration. In a notification issued by the Forest, Environment and Climate Change Ministry, hydrocarbon exploration projects neither require an... 

FAR secures funding for Senegal project

By: Esmarie Iannucci     20th January 2020 Oil and gas developer FAR has taken a final investment decision on the Sangomar field development, offshore Senegal, securing final credit approvals for an underwritten $300-million senior secured reserve based lending facility to fund its share of the project development. The joint venture (JV)... 

FAR secures funding for Senegal project

India starts fifth round of bidding for 11 oil, gas blocks

By: Ajoy K Das     17th January 2020 The Indian government on Wednesday started the fifth round of international competitive bidding, offering 11 oil and natural gas fields for exploration and development under new financial terms. “In continuation of our aggressive acceleration of exploration and production activities and adhering... 

Gas could spur African development

By: Mc'Kyla Nortje     17th January 2020 Sub-Saharan Africa’s gas resources are vast, with ongoing developments highlighting the potential magnitude of the emerging gas sector and its ability to transform the region.  These developments include recent discoveries such as petroleum company Total South Africa’s Brulpadda prospect, in the... 

Gas could spur African development
LEVEL OF CERTAINTY Oil and gas investments tend to be long term, and require a level of continuous certainty from the ecosystems in which they exist

Woodside ups production target for 2020

By: Esmarie Iannucci     16th January 2020 Oil and gas major Woodside Petroleum has reported a 3% rise in production and a 12% rise in revenues for the fourth quarter ending December. “Production and sales revenue increased compared with the third quarter of 2019 due to the strong performance from Greater Enfield,” said Woodside CEO... 

Brazil's Petrobras closes $1.5bn deal to sell stake in African JV

By: Reuters     15th January 2020 Brazil's State-controlled oil company Petroleo Brasileiro (Petrobras) said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil assets. Petrobras, as the company is known locally, said in a filing... 

Australia and Japan bond over hydrogen

By: Esmarie Iannucci     14th January 2020 Australia’s Resources Minister Matt Canavan has inked a joint statement of cooperation with Japan, concerning hydrogen and fuel cells. The statement encourages Australia and Japan to exchange views on national hydrogen strategies and safety information as well as shape the global hydrogen... 

Woodside JV approves Senegal's first oil project

By: Esmarie Iannucci     10th January 2020 Oil and gas major Woodside Petroleum on Friday announced that the joint venture (JV) partners have approved the development of Phase 1 of the Sangomar field development, in Senegal. The government of Senegal earlier this week approved the Rufisque offshore, Sangomar offshore and Sangomar Deep... 

Congo wants to sell Gertler’s oil blocks on Ugandan border

By: Bloomberg     9th January 2020 The Democratic Republic of Congo is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company. The Congolese government has talked to Tullow Oil about purchasing a stake in the Lake Albert licences along the country’s border with... 

Senegal approves Woodside plans

By: Esmarie Iannucci     9th January 2020 Oil and gas major Woodside Petroleum on Thursday announced that the government of Senegal has approved the Rufisque offshore, Sangomar offshore and Sangomar Deep offshore joint venture exploitation plan, and has granted authorization for the Sangomar field development. The Sangomar development... 

WA invests in hydrogen studies

By: Esmarie Iannucci     8th January 2020 The Western Australian government has announced a A$1.68-million investment to support feasibility studies across seven proposed renewable hydrogen projects to support development of the fledgling industry. The studies, funded through the government's Renewable Hydrogen Fund, include examining... 

Oil surges as Iran says it attacks Iraq base housing US troops

By: Bloomberg     8th January 2020 Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts US troops. Spot gold also jumped. West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on the New York Mercantile Exchange after Iran’s state television reported the country... 

DMRE hosts briefing ahead of launch of emergency power programme 

By: Terence Creamer     7th January 2020 A briefing session will be held on Wednesday for potential respondents to the Department of Mineral Resources and Energy’s request for information for power generation solutions that can be “grid connected in the shortest time at the least possible cost”. The responses will be used to inform a... 

DMRE hosts briefing ahead of launch of emergency power programme

Western Australia EPA clears state's Scarborough link

By: Esmarie Iannucci     7th January 2020 The Western Australian Environmental Protection Authority (EPA) has approved the state government’s component of a liquid natural gas (LNG) pipeline, which will form part of the Scarborough gas field project, being developed by energy major Woodside. EPA chairperson Dr Tom Hatton said the... 

Western Australia EPA clears state's Scarborough link

Canadian crude-by-rail shipments to surge, spurring investment

By: Bloomberg     20th December 2019 Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure. Crude-by-rail capacity in Alberta is expected to grow by 100 000 bbl/d in December after the provincial government eased production limits for oil transported by train, the Energy... 

Great Australian Bight exploration a step closer

By: Esmarie Iannucci     19th December 2019 The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has accepted global energy player Equinor’s environment plan for exploratory petroleum drilling in the Great Australian Bight, which represents the second of four approvals required before activity can... 

BP and Chevron agree to major Australian exploration spend

By: Esmarie Iannucci     19th December 2019 Energy giants BP and Chevron will invest a combined A$116.5-million in oil and gas exploration activities in Australia, with at least half directed to projects in South Australia with a view to increasing energy supplies in the state and south-eastern Australia. Minister for Resources Matt... 

Anglo firms up technology advance with space boffins 

By: Martin Creamer     19th December 2019 Diversified mining company Anglo American has announced a $13.5-million agreement with First Mode to develop innovative technology for the mining industry. First Mode, of Seattle, which has been working with Anglo to develop the world’s biggest hydrogen fuel cell haul truck for Anglo American... 

Anglo firms up technology advance with space boffins
Photo by First Mode
Hydrogen and fuel cell haulage

Orsted divests LNG business to Glencore

By: Reuters     18th December 2019 Danish energy group Orsted said on Wednesday it has agreed to divest its liquefied natural gas business to trading house Glencore . The LNG business is loss-making and the divestment - which fits into Orsted's strategy to focus on expanding in renewable energy - will include a payment from the... 

France's Total buys stakes in two Angola offshore oil blocks

By: Reuters     17th December 2019 Total said on Monday it had acquired interests in two new offshore licences in Angola with a view to developing a new production hub alongside the French oil major's partners. Wells drilled so far in the two blocks have produced four discoveries, Total said. It will pay Angolan state oil firm... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power

By: Simone Liedtke     17th December 2019 Drilling at emerging natural gas and helium producer Renergen’s Virginia project, in the Free State, has progressed through the Karoo Supergroup and successfully intersected gas-charged sandstones and fractures, as was previously expected, the company reported on Monday. The gas was intersected... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power
CEO Stefano Marani

WA's gas supply to surpass demand

By: Esmarie Iannucci     16th December 2019 A new report by the Australian Energy Market Operator (AEMO) has highlighted that Western Australia’s potential gas supply could exceed forecast domestic demand over the next ten years. In the 2019 Western Australia Gas Statement of Opportunities, the AEMO noted that in the base-case scenario,... 

WA's gas supply to surpass demand

Oil and gas producers taxed A$5.8bn in 2017/18

By: Esmarie Iannucci     13th December 2019 Australia’s oil and gas industry contributed around A$5.8-billion in taxes, rents and royalties in 2017/18, new data by the Australian Petroleum Production and Exploration Association (Appea) has shown. In its 31st financial survey, Appea showed that the industry had reported a record overall... 

Oil and gas producers taxed A$5.8bn in 2017/18

Newcrest and Chevron strike gas deal

By: Esmarie Iannucci     13th December 2019 The Western Australian Chamber of Minerals and Energy (CME) has welcomed an agreement between gold miner Newcrest and US energy major Chevron, for the delivery of natural gas from the Wheatstone, Gorgon and North West Shelf projects. Chevron Australia MD Al Williams was quoted on Friday as... 

Canada will consider climate plan in Teck oil project decision - Minister

By: Reuters     13th December 2019 The government will take into account its plan to make Canada carbon neutral by 2050 when it considers whether to approve Teck Resources' plan for a giant oil sands mine, the new environment minister said on Thursday. Teck wants approval for its C$20.6-billion Frontier project, which involves an... 

Woodside still committed to Kitimat

By: Esmarie Iannucci     12th December 2019 Australian oil and gas major Woodside on Thursday said that the company remained committed to the Kitimat liquefied natural gas (LNG) project, in British Columbia, after US major Chevron announced plans to exit the asset. Chevron holds a 50% stake in Kitimat. 

Woodside still committed to Kitimat

FAR raises A$176m for Senegal project

By: Esmarie Iannucci     12th December 2019 Africa-focused oil and gas developer FAR on Thursday announced plans to raise up to A$176-million to fund the development to first oil at its Sangomar oil field, offshore Senegal. The company will raise an initial A$146-million through a conditional share placement, priced at 4.25c each, with... 

Senex extends Orora contract

By: Esmarie Iannucci     11th December 2019 ASX-listed Senex Energy has expanded its natural gas sales agreement with packaging manufacturer Orora. In May this year the two companies struck a two-year sales agreement for the supply of 3.3 PJ of natural gas from Project Atlas, starting in January next year.  

Project Atlas delivers first gas sales

By: Esmarie Iannucci     10th December 2019 Project Atlas has delivered its first gas sales into the east coast market ahead of schedule, with the gas sold to Queensland power generator CleanCo. ASX-listed Senex Energy on Tuesday said that the agreement with CleanCo complemented Project Atlas’ gas sales agreement with CSR and Orora, which... 

Why Bitcoin mining is being touted as a solution to gas flaring

By: Bloomberg     9th December 2019 A Denver-based company that installs data centers at shale drilling sites to take advantage of excess natural gas supplies says it now has eight operations across the US and plans another 30 in the first half of next year. The centers are being touted as a way to solve the growing problem of gas... 

Britain's Tullow Oil shares plunge over 50% as CEO resigns

By: Reuters     9th December 2019 Tullow Oil shares more than halved on Monday as CEO Paul McDade stepped down and the energy company scrapped its dividend after failing to meet production targets due to weak performance by flagship assets in Ghana. The company has been plagued by technical problems at its Jubilee field in Ghana... 

Opec+ agrees to redistribute oil cuts under Saudi pressure

By: Bloomberg     6th December 2019 Opec+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden. The group, which pumps more than half the world’s oil, agreed in Vienna on Friday to reduce its output target by 500... 

Reservation policy working - Canavan

By: Esmarie Iannucci     6th December 2019 Federal Resources Minister Matt Canavan has alluded that the government would look at expanding the gas reservation policy to ensure continued gas supply to the east coast market. Quoting data from the recently released report by energy commentator EnergyQuest, Canavan noted that that east... 

Cooper JV completes BHP's Minerva buy

By: Esmarie Iannucci     5th December 2019 ASX-listed Cooper Energy on Thursday has completed the acquisition of mining major BHP’s 90% interest in the Minerva joint venture (JV), in Victoria. Cooper Energy, in a JV with AWE and Mitsui E&P Australia struck an agreement with BHP in May last year to acquire the major’s interest in the... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary 

By: Terence Creamer     4th December 2019 The promoters of liquefied natural gas (LNG) import terminals at Maputo, in Mozambique, and Richards Bay, in South Africa, insist that the two proposed projects can be complimentary rather than competitive as there is sufficient existing demand and growth potential in the region to support both... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary

US Supreme Court leans toward BP unit in Montana Superfund case

By: Reuters     3rd December 2019 US Supreme Court justices on Tuesday appeared inclined to shield a unit of British oil major BP from claims seeking a more extensive cleanup of a Superfund hazardous waste site in Montana than what federal environmental officials had ordered. The nine justices heard arguments in an appeal by... 

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