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Oil and Gas News

One of the world’s largest energy summits cancelled on virus

By: Bloomberg     1st March 2020 One of the world’s largest and most important energy industry gatherings was cancelled by organiser IHS Markit on Sunday amid mounting concerns about the coronavirus outbreak. It was due to start in Houston, US, on March 9. CERAWeek has been an annual industry fixture over more than three... 

Going green is a good business proposition ­– Schmidt  

By: Martin Creamer     28th February 2020 Going green and ensuring environmental protection is a good business proposition, African Rainbow Minerals (ARM) CEO Mike Schmidt said on Friday. Speaking to Mining Weekly after the company had declared a 25% higher dividend on the back of its platinum division reporting a 193%-better performance... 

Going green is a good business proposition ­– Schmidt
ARM CEO Mike Schmidt talks to Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

South Africans working together will find energy solutions – ARM  

By: Martin Creamer     28th February 2020 South Africans working together with confidence and enthusiasm will improve the country and find energy solutions, African Rainbow  Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Friday. Presenting a 25% higher interim dividend and a 193%-better performance from ARM Platinum in... 

South Africans working together will find energy solutions – ARM
ARM half-year results covered by Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

Husky Energy blames long Canada regulatory process for canceled Teck oil project

By: Reuters     28th February 2020 Canada's excessively long regulatory process led to cancellation of Teck Resources' Frontier oil sands project, the CEO of rival Husky Energy said on Thursday. Teck on Sunday canceled the C$20.6-billion proposal, saying it was stuck in an unresolved Canadian debate about energy growth and... 

Minister skates over issues in speech

By: Tracy Hancock     28th February 2020 The various proverbial “elephants in the room” of the South African mining sector were not addressed by Mineral Resources and Energy Minister Gwede Mantashe when he delivered his speech at the 2020 Investing in African Mining Indaba earlier this month, says law firm Herbert Smith Freehills... 

Minister skates over issues in speech
GWEDE MANTASHE The Draft Upstream Petroleum Resources Development Bill has received positive comments

Implats evaluating 200 MW solar power plant in Zimbabwe  

By: Martin Creamer     27th February 2020 Zimbabwe platinum group metals mining company Zimplats is in the midst of a feasibility study to evaluate the construction of a 200 MW solar power plant, Implats CEO Nico Muller said on Thursday. Speaking to Mining Weekly following the company’s interim dividend reinstatement and generation of... 

Implats evaluating 200 MW solar power plant in Zimbabwe
Implats CEO Nico Muller talks to Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala.

Hydrogen fuel cell technology moving at very fast pace – Implats  

By: Martin Creamer     27th February 2020 Fuel cell technology is moving at a very fast pace, Implats group executive: refining and marketing Sifiso Sibiya said on Thursday. Hydrogen gas from energy company Sasol is already piped to the Impala Platinum refinery site in Springs, on the East Rand, where Implats has donated 16 ha of land... 

Hydrogen fuel cell technology moving at very fast pace – Implats
Implats interim results covered by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala.

Coronavirus to tip oil and gas prices – Woodmac 

27th February 2020 The Coronavirus, which has caused nearly 2 800 deaths world-wide, was likely to have a bigger impact on prevailing oil and gas prices than on project construction, industry analyst Wood Mackenzie (Woodmac) said on Thursday. Manufacturing shutdowns and shipping bottlenecks were causing project... 

Gladstone emerging as hydrogen hub

By: Esmarie Iannucci     27th February 2020 Gladstone, in Queensland, has been tipped as the location for an Australian first; an A$4.2-million gas injection facility being built by Australian Gas Networks (AGN) to deliver renewable hydrogen into the city’s gas network. AGN on Thursday said that the project had attracted A$1.78-million... 

India likely to slash domestic natural gas price by 25%

By: Ajoy K Das     27th February 2020 India is likely to slash domestic natural gas prices, in view of the fall in global prices and the forecast of sustained low demand in key markets in the wake of the coronavirus spread. Sources said that as per the administered price mechanism (APM) governing the domestic natural gas price, the... 

Hydrogen fuel cell technology key to achieving green economy – Plug Power 

By: Martin Creamer     26th February 2020 The only way to achieve a ‘green’ economy, fight climate change and prevent the destruction that the world has seen in recent years is to ensure that conversations turn to the adoption of the hydrogen economy and interest in fuel cell deployment lives beyond the initial hype. That is the view of... 

Hydrogen fuel cell technology key to achieving green economy – Plug Power
Andy Marsh

‘Nail in the coffin’: Era of big oil sands mines may be over

By: Bloomberg     25th February 2020 Canada’s oil sands industry may have already built its last big mine. The cancellation of Teck Resources’ Frontier project in northern Alberta -- which envisaged producing more crude than OPEC member Gabon -- epitomises the struggles of an industry that has already seen most foreign investors... 

‘Nail in the coffin’: Era of big oil sands mines may be over

PNG LNG partners hope for positive outcomes - Oil Search

By: Esmarie Iannucci     25th February 2020 Oil and gas producer Oil Search on Tuesday told shareholders that it would work with its project partners on the Papua New Guinea liquefied natural gas (PNG LNG) project to re-engage the PNG government to lock down the P’nyang gas agreement. The PNG government at the end of January suspended... 

Equinor stops exploration in Great Bight

By: Esmarie Iannucci     25th February 2020 Norway-based Equinor has decided to discontinue its exploration drilling plan in the Great Australian Bight, just months after receiving environmental approval for the endeavor. The company said on Tuesday that following a holistic review of its exploration portfolio, Equinor had concluded that... 

Equinor stops exploration in Great Bight

ONGC likely to report production decline

By: Ajoy K Das     24th February 2020 Indian State run oil, gas exploration and production (E&P) major ONGC is expected to report 3.4% decline in production during current financial year, closing on March 31, 2020. According to a company official, during the first nine months of the financial year, ONGC’s production was maintained... 

Teck pulls application for C$20bn oil sands project to allow for climate debate

By: Mariaan Webb     24th February 2020 Diversified major Teck Resources CEO Don Lindsay on Sunday announced the group’s “difficult decision” to formally withdraw its Frontier oil sands project from the federal regulatory review process. As a result, the major announced it would write down the C$1.13-billion carrying value of the... 

Teck pulls application for C$20bn oil sands project to allow for climate debate
Teck CEO Don Lindsay

Even without a case, Africa may be a big victim of coronavirus

By: Bloomberg     24th February 2020 Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus. The outbreak has shut down entire swathes of the Chinese economy, threatening world economic growth and curbing appetite for oil and metals that are the... 

Teck warns of C$1.13bn hit if Trudeau rejects Frontier project

By: Reuters     21st February 2020 Canadian miner Teck Resources said on Friday it would write down the value of its proposed Frontier oil sands mine by C$1.13-billion should Prime Minister Justin Trudeau's government reject the project. The fate of the C$20.6-billion mine is expected to be decided by next week in what has become... 

Higher output pushes Senex profits

By: Esmarie Iannucci     21st February 2020 Oil and gas producer Senex Energy has swung into profits on the back of a 25% increase in revenues and a 40% increase in production during the six months to December, compared with the previous corresponding period. Profits after tax for the interim period has been reported at A$1.5-million, up... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani 

By: Martin Creamer     20th February 2020 Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company. Hydrogen fuel cell... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani
Photo by Anglo American
Four-part forward thrust.

Santos reports profit surge

By: Esmarie Iannucci     20th February 2020 Oil and gas major Santos has reported a 7% increase in net profits after tax for the full year ending December, with the ASX-listed company reporting record annual free cash flows. Net profits after tax for the full year reached $674-million, up from the $630-million reported in the previous... 

Santos reports profit surge

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater  

By: Martin Creamer     19th February 2020 The next big disruptive technology will be hydrogen fuel cell technology, which is platinum rich, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking ahead of half-year results of a 44% increase in revenue to R73-billion and a R432-million profit for 2019, Froneman stated that this... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater
Sibanye-Stillwater CEO Neal Froneman talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer. Photographs: Donna Slater.

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

ACCC calls for more gas exploration

By: Esmarie Iannucci     18th February 2020 The Australian Competition and Consumer Commission (ACCC) has called on Australia’s southern state to allow gas exploration in a bid to secure supply. “Southern states risk facing a shortfall in the medium term unless there is more exploration and development in the south, or new infrastructure... 

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Modernisation, digitisation part of next value delivery – Amplats  

By: Martin Creamer     17th February 2020 Top of the list of the four focus areas of platinum group metals (PGM) mining company Anglo American Platinum (Amplats) to drive its next phase of value is operational efficiency. Outlining this at the company’s presentation of record financial and safety achievements, Amplats CEO Chris Griffith... 

Modernisation, digitisation part of next value delivery – Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith  

By: Martin Creamer     17th February 2020 The introduction of hydrogen fuel cell mining in response to climate change is poised to cut the greenhouse gas emissions of platinum group metals mining company Anglo American Platinum by 30%. A large enabler of this significant reduction is the introduction of hydrogen fuel cell mining trucks,... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena
Photo by Creamer Media's Donna Slater
Chris Griffith

Chris Griffith to step down as Amplats CEO

By: Martin Creamer     17th February 2020 Anglo American Platinum (Amplats) CEO Chris Griffith is to step down as CEO of the company after seven years at the helm, the board of Anglo American Platinum said on Monday. The company announced that Griffith, who took Kumba Iron Ore to great heights before taking on Amplats, will also leave... 

Chris Griffith to step down as Amplats CEO
Photo by Creamer Media's Donna Slater
Chris Griffith

Arbitrator backs Woodside in Senegal tussle

By: Esmarie Iannucci     14th February 2020 The International Arbitration Court has backed oil and gas major Woodside in a dispute with fellow listed FAR. Woodside and FAR are joint venture (JV) partners in the Sangomar field development, offshore Senegal.  

Arbitrator backs Woodside in Senegal tussle

IEA sees first global oil demand drop in a decade on coronavirus

By: Bloomberg     13th February 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude... 

Woodside suffers under Kitimat impairment

By: Esmarie Iannucci     13th February 2020 Oil and gas major Woodside Energy has seen a significant drop in its full year net profits after tax after recording a $720-million non-cash impairment for the Kitimat liquefied natural gas (LNG) asset, in Canada. The ASX-listed major on Thursday told shareholders that the net profit after tax... 

BHP approves Scarborough feasibility

By: Esmarie Iannucci     13th February 2020 Diversified major BHP on Thursday announced a decision to progress the Scarborough gas development, offshore Western Australia, into the feasibility study phase. BHP in 2016 sold a 50% stake in the undeveloped Scarborugh gas field to Australian oil and gas major Woodside Energy for an initial... 

Woodside warns of Kitimat write-down

By: Esmarie Iannucci     12th February 2020 Oil and gas major Woodside Petroelum has warned of a non-cash impairment of A$720-million in relation to its Kitimat assets, in Canada, for the 2019 financial year. US major Chevron, which holds a 50% stake in the Kitimat project, in December of last year announced plans to exit the asset,... 

Another step forward for world’s largest hydrogen truck at Mogalakwena

By: Martin Creamer     12th February 2020 Development of the world’s largest hydrogen-powered mine truck took another step forward this week. Autocar reports that Anglo American has engaged Williams Advanced Engineering to  help develop the new fuel cell electric vehicle that will be put through its paces at South Africa’s Mogalakwena... 

Another step forward for world’s largest hydrogen truck at Mogalakwena
Platinum group metals helping to fight climate change.

Beach narrows full year guidance

By: Esmarie Iannucci     11th February 2020 Oil and gas producer Beach Energy has narrowed its full year production expectations to reflect actual production achieved in the first half of the financial year. The ASX-listed company was now expecting full year production to reach between 27-million and 28-million barrels of oil equivalent,... 

World emissions kept in check as rich nations kick coal habit

By: Bloomberg     11th February 2020 Global emissions from energy held steady in 2019 for the first time in three years as developed nations continued to move away from coal power and toward renewable energy and natural gas. Even as the world economy grew, energy-related carbon dioxide emissions remained at 33.3-billion tons.... 

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