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Oil and Gas News

Australian Parliament passes hydrogen legislation

By: Esmarie Iannucci     15th May 2020 The Australian Parliament this week passed the Offshore Petroleum and Greenhouse Gas Storage (OPGGS) Amendment Bills amending the OPGGS Act 2006, which could pave the way for a new hydrogen industry in Australia. The Amendment Bills were now awaiting royal assent. “As Australia emerges from the... 

Sasol to mull adding pipeline, Qatar plant to disposal plan

By: Bloomberg     15th May 2020 Sasol is considering additional divestments, including the potential sale of stakes in an African gas pipeline and a Middle Eastern plant, as it explores ways to reduce its $10-billion debt pile, people with knowledge of the matter said. South Africa’s biggest company by revenue is working with... 

Power station switch from coal to hydrogen sets new global example 

By: Martin Creamer     14th May 2020 The transitioning of a US power station from coal to renewable hydrogen is leading the way in a world urgently in need of meaningful action to combat climate change. The ground-breaking transition by Intermountain Power Agency of Utah, is being facilitated by Mitsubishi Hitachi Power Systems,... 

Power station switch from coal to hydrogen sets new global example
Photo by MHPS
Renewable hydrogen stored underground.

More gas doled out at Atlas

By: Esmarie Iannucci     14th May 2020 ASX-listed Senex Energy has inked a domestic gas sales agreement with power generator CleanCo Queensland for 2.55 PJ of natural gas from its Atlas project, starting in January next year. The gas will be supplied at the Wallumbilla gas hub, in Queensland, at a fixed price in line with the... 

Queensland releases gas exploration acreage

By: Esmarie Iannucci     14th May 2020 The Queensland government has made more than 6 700 km2 of land available for gas exploration and a new explorer looking to supply Australian-only gas users. Mines Minister Dr Anthony Lynham on Thursday announced 12 prospective parcels of land were now open to tender across Queensland’s resource... 

Queensland releases gas exploration acreage

Hydrogen gaining increasing levels of interest – AP Ventures 

By: Martin Creamer     13th May 2020 Hydrogen and the applications that it can enable are gaining increasing levels of interest and traction, says AP Ventures LLP. “We’re very optimistic about the role that fuel cells and hydrogen will play in decarbonising key sectors of the economy,” says AP Ventures in a written response to... 

Hydrogen gaining increasing levels of interest – AP Ventures
Photo by Bloomberg
Platinum-using hydrogen fuel cell.

Global trade set to slump 27% in Q2, report warns

By: Terence Creamer     13th May 2020 Global trade is projected to record a quarter-on-quarter slump of 27% in the second quarter of 2020 as a result of the Covid-19 pandemic, after falling by three percent in the first quarter, a new report by the Committee for the Coordination of Statistical Activities (CCSA) warns. The report,... 

Global trade set to slump 27% in Q2, report warns

World’s top mining companies committed to climate change solutions – ICMM 

By: Martin Creamer     13th May 2020 Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report. The ICMM is an international organisation dedicated to a... 

World’s top mining companies committed to climate change solutions – ICMM
International Council on Mining and Metals CEO Tom Butler

CEF denies nine ‘requests’ for support amount to a bailout 

By: Terence Creamer     12th May 2020 South Africa’s State-owned Central Energy Fund (CEF) has outlined an extensive list of support measures – including access to a portion of the fuel levy and carbon-tax proceeds – which it argued on Tuesday would help extricate the group from a “precarious financial position”, precipitated by... 

CEF denies nine ‘requests’ for support amount to a bailout
Photo by Creamer Media
The PetroSA refinery in Mossel Bay

CEF fills all vacant CEO positions for group companies

By: Donna Slater     11th May 2020 Having not had permanent CEOs since 2014, the Central Energy Fund (CEF) has now filled the position of group CEO, as well as all vacant CEO positions at its group companies, in particular at the Strategic Fuel Fund (SFF), the Petroleum Agency of South Africa (Pasa) and national oil company... 

BP mulls green hydrogen in Australia

By: Esmarie Iannucci     8th May 2020 Energy major BP Australia has been awarded A$1.71-million in funding from the Australian Renewable Energy Agency (ARENA) to assess the feasibility of building a renewable hydrogen and ammonia production facility in Geraldton, Western Australia. BP is undertaking a A$4.42-million feasibility... 

Appea report calls for investor certainty

By: Esmarie Iannucci     8th May 2020 A new report undertaken by advisory firm Wood Mackenzie (WoodMac) on behalf of the Australian Petroleum Production and Exploration Association (Appea) has found that Australia’s upstream oil and gas industry needs long-term regulatory stability to create attractive investment opportunities for... 

Appea report calls for investor certainty

DMRE to test market appetite for 2 500 MW of small nuclear reactors  

By: Terence Creamer     7th May 2020 The Department of Mineral Resources and Energy (DMRE) told lawmakers on May 7 that the development of a roadmap for a 2 500 MW nuclear new build programme would commence soon and that the market would be tested for “robust funding options”. A request for information would be issued to assess... 

DMRE to test market appetite for 2 500 MW of small nuclear reactors
Mineral Resources and Energy Minister Gwede Mantashe

In US shale bust, frack-sand miners are the new coal companies

By: Reuters     7th May 2020 Three years ago, companies selling frack sand to oil producers were booming, opening multi-million dollar mines, buying rivals and selling shares in what was the hottest niche in oilfield services. But the shale bust in early March has turned the frack sand mining business into the new coal. As... 

Greenvale weighs diversification at Alpha

By: Esmarie Iannucci     7th May 2020 ASX-listed Greenvale Energy on Thursday told shareholders that it will undertake an alternative exploration programme at its Alpha oil shale deposit, in Queensland, with the aim of diversifying production from the asset. Greenvale said a preliminary review of opencut mining and processing... 

Govt calls for comments on petroleum acreage

By: Esmarie Iannucci     5th May 2020 The Federal government has opened public consultation on potential areas for the 2020 offshore petroleum exploration acreage release. Minister for Resources, Water and Northern Australia Keith Pitt said 49 areas have been nominated by the oil and gas industry offshore from Western Australia,... 

Australian government establishes A$300m hydrogen fund

By: Esmarie Iannucci     4th May 2020 The Australian government has announced the establishment of a A$300-million Advancing Hydrogen Fund that will finance projects focused on growing a clean, innovative and competitive hydrogen industry in Australia. The fund will back projects that align with priorities under the National... 

Australian government establishes A$300m hydrogen fund

Woodside predicts two year low oil price

By: Esmarie Iannucci     1st May 2020 Oil and gas major Woodside has warned shareholders that the low oil price environment could persist for the next two years. Speaking during the company’s annual general meeting, CEO Peter Coleman noted that the oil and gas industry had been confronted not only by the challenges presented by the... 

Woodside predicts two year low oil price

Oil Search raises A$80m in entitlement offer

By: Esmarie Iannucci     1st May 2020 Oil and gas major Oil Search has completed the retail component of it’s A$400-million entitlement offer, raising an initial A$80-million. Oil Search last month announced plans for a A$1.1-billion raising, consisting of underwritten institutional placement to raise an initial A$760-million, and... 

Hedge fund pushes Teck to abandon oil, replace CEO Lindsay

By: Bloomberg     30th April 2020 Teck Resources has been targeted by a hedge fund shareholder that’s pushing the underperforming Canadian miner to divest its energy and coal businesses and consider replacing long-standing CEO Don Lindsay. Tribeca Investment Partners said making those changes and pivoting to a pure base metals... 

Hedge fund pushes Teck to abandon oil, replace CEO Lindsay
Teck CEO Don Lindsay

Glencore well positioned to navigate Covid challenges – Glasenberg 

By: Martin Creamer     30th April 2020 Diversified mining and marketing company Glencore is well positioned to navigate the current challenges presented by the Covid-19 pandemic, Glencore CEO Ivan Glasenberg said on Thursday, when the London- and Johannesburg-listed company reported first-quarter production and provided a general... 

Glencore well positioned to navigate Covid challenges – Glasenberg
Photo by Blooomberg
Ivan Glasenberg

Morale high as Covid-masked South African miners get back to work 

By: Martin Creamer     28th April 2020 Morale is reportedly high as Covid-masked and physically distanced South African mineworkers get back to mining underground for companies that have gone the extra mile to ensure that they have been fully remunerated and host communities generously funded during the national lockdown. In a... 

Morale high as Covid-masked South African miners get back to work
Mineworkers with personal protective equipment.

Australia's CSIRO finds fracking is safe for the environment

By: Esmarie Iannucci     28th April 2020 A three year scientific study by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) into the air, water and soil impacts of hydraulic fracturing has found little to no impacts on air quality, soils, groundwater and waterways. The study also found current water treatment... 

Australia's CSIRO finds fracking is safe for the environment

Opencast mines may return to 100% of capacity from May 1 – Patel

By: Martin Creamer     27th April 2020 Opencast mines are permitted to return in phases to 100% operation from May 1 but underground mines must continue at 50% of production capacity, Trade and Industry Minister Ebrahim Patel said on Saturday. Speaking during a media briefing covered by Mining Weekly on South Africa’s easing from the... 

Opencast mines may return to 100% of capacity from May 1 – Patel
Openast mines like this one may return to 100% production capacity.

Learning curve still too steep to define ‘best practice’ mining response

By: Martin Creamer     27th April 2020 The rapidly evolving Covid-19 crisis learning curve is still too steep to conclusively define what a ‘best practice’ response looks like from the mining industry, says the International Council on Mining and Metals (ICMM), which is facilitating a rapid exchange of information and knowledge to... 

Learning curve still too steep to define ‘best practice’ mining response
ICMM CEO Tom Butler

Wall Street is bending to pressure to halt Arctic-oil loans

By: Bloomberg     27th April 2020 The latest front in the war against drilling for oil in Alaska’s rugged wildlife refuge isn’t Washington – it’s Wall Street. Activists trying to keep rigs out of the Arctic National Wildlife Refuge are now focused on choking off the flow of money needed to exploit the reserve. As big as South... 

Wall Street is bending to pressure to halt Arctic-oil loans

Sasol cuts output as Covid-19 eats into fuels and chemicals demand 

By: Terence Creamer     23rd April 2020 Embattled chemicals and energy group Sasol reports that South Africa’s lockdown is having a significant impact on fuel demand, as well as demand for chemicals used in the mining and construction sectors. The JSE-listed group has, therefore, been forced to curtail production at certain plants. In... 

Sasol cuts output as Covid-19 eats into fuels and chemicals demand

Firm directive to ensure safe mining resumption

By: Martin Creamer     23rd April 2020 The Department of Mineral Resources and Energy (DMRE) on Thursday issued a firm directive to all mining operations to ensure safe start-up procedures as the sector prepares to ramp up to 50% of capacity. Mining Weekly can report that the directive is issued to ensure compliance with Section 5(1)... 

Firm directive to ensure safe mining resumption
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe.

New gas project on Victorian horizon

By: Esmarie Iannucci     23rd April 2020 Gas infrastructure developer Australian Gas Infrastructure Group (AGIG) is mulling a A$200-million investment to develop the Golden Beach gas project, offshore Victoria. The company on Thursday announced that it had entered into a non-binding transaction process deed with unlisted GB Energy,... 

Santos hit by lower oil prices

By: Esmarie Iannucci     23rd April 2020 Oil and gas major Santos has reported a 14% drop in revenue for the three months to March, as both production and oil prices tumbled. Production for the quarter was down 4%, from the 18.7-million barrels of oil equivalent produced in the December quarter, to 17.9-million barrels, on the back of... 

Santos hit by lower oil prices

Port Kembla plans ammended for more gas

By: Esmarie Iannucci     21st April 2020 The New South Wales government has approved a modification to the development consent for the Port Kembla gas terminal (PKGT) being development by Australian Industrial Energy (AIE), allowing for increased volumes through the terminal. The Department of Planning, Industry and Environment’s... 

Citi to stop working with thermal coal miners, to reject funding for Arctic oil, gas exploration

By: Bloomberg     21st April 2020 Citigroup will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossil fuels. By 2025, the bank won’t provide underwriting and advisory services to the industry and will cut its credit exposure in half,... 

Citi to stop working with thermal coal miners, to reject funding for Arctic oil, gas exploration

Oil plunges below zero for first time with May contract ending

By: Bloomberg     20th April 2020 Oil futures collapsed to below zero for the first time ever as the deepening economic turmoil caused by the coronavirus crisis left traders desperate to avoid taking delivery of physical crude. In an unprecedented day of trading, the price for the May contracts wiped out all value, breaking... 

Oil plunges below zero for first time with May contract ending

US Supreme Court sides with BP unit to curtail Superfund site cleanup lawsuits

By: Reuters     20th April 2020 The US Supreme Court on Monday threw out a lower court ruling that had allowed litigation by Montana landowners to proceed against BP unit Atlantic Richfield Co seeking a more extensive cleanup of a hazardous waste site than the federal government had ordered. The justices, in a 7-2 ruling,... 

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe

M&R warns of impact of Covid-19 on full-year earnings

By: Marleny Arnoldi     17th April 2020 JSE-listed engineering and construction services group Murray & Roberts (M&R) continues to experience the impact on its projects from measures to contain the spread of Covid-19. In South Africa, the group is impacted by the extended lockdown period to end-April, and in Australasia and the... 

LNG revenues poised to fall - EnergyQuest

By: Esmarie Iannucci     17th April 2020 New data from energy advisory firm EnergyQuest has revealed that the value of Australian liquefied natural gas (LNG) exports could fall by as much as A$20-billion over the next year. In its March research report, EnergyQuest CEO Dr Graham Bethune noted that while Australia’s LNG export revenues... 

A$10bn Surat gas project gets green light

By: Esmarie Iannucci     17th April 2020 Energy major Shell has taken a final investment decision to develop the first phase of integrated coal seam gas (CSG) company Arrow Energy’s A$10-billion Surat gas project, in Queensland. The company said on Friday that the decision would bring up to 90-billion cubic feet per year of new gas to... 

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