R/€ = 16.85 Change: -0.02
R/$ = 16.15 Change: 0.01
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Pt 948.00 $/oz Change: -16.00

Oil and Gas News

Senex in talks with POSCO over possible deal

By: Esmarie Iannucci     18th October 2021 ASX-listed Senex Energy on Monday flagged change of control discussions with POSCO International Corporation. The company told shareholders that POSCO International in early September submitted a revised non-binding and indicative proposal to acquire 100% of Senex for a cash offer price of... 

‘Unleash American shale’ to end energy crisis

By: Bloomberg     15th October 2021 The largest US natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. US gas drillers could increase supplies by about 20% if not for pipeline and... 

Eskom aiming to secure concessional funding for R400bn just energy transition project pipeline 

By: Terence Creamer     14th October 2021 State-owned electricity producer Eskom has identified a pipeline of ‘just energy transition’ projects valued at about R400-billion that it will seek to fund using concessional finance raised from international financiers that have committed to supporting decarbonisation initiatives in developing... 

Photo of Eskom's rock-man statue at Megawatt Park

IEA warns of more energy market volatility as transition investment lags 

By: Terence Creamer     13th October 2021 There is a looming risk of more turbulence ahead for energy markets, the International Energy Agency (IEA) warns in its latest World Energy Outlook publication. “The world is not investing enough to meet its future energy needs, and uncertainties over policies and demand trajectories create a... 

IEA executive director Dr Fatih Birol
IEA executive director Dr Fatih Birol

Senex sets net zero targets

By: Esmarie Iannucci     11th October 2021 ASX-listed Senex Energy on Monday released its decarbonisation action plan, revealing details of its plan to become a net zero operation by 2040. “Natural gas is integral to meeting demand for reliable and affordable energy and we are focused on being the natural gas supplier of choice through... 

Superpower rivalry and vaccine envy set stage for climate talks

By: Bloomberg     8th October 2021 Premiers, presidents, and princes come and go from the world’s biggest climate stage. It’s the nature of the annual international climate talks organized by the United Nations, known as the Conference of the Parties. The guest list changes with whichever parties are in power. Only someone like... 

An image of the COP26 logo

ArcelorMittal slaps surcharge on some steel as energy costs bite

By: Bloomberg     8th October 2021 Europe’s biggest steelmaker ArcelorMittal has slapped a surcharge on some products due to surging power prices, according to a person familiar with the matter. Long steel products sold by ArcelorMittal in Europe will be subject to a €50 ($58) a ton surcharge, said the person, who asked not to be... 

Oil companies ask Canada to pay for 75% of carbon capture facilities

By: Reuters     7th October 2021 Oil and gas companies have asked the Canadian government to design a tax credit to pay for 75% of the cost to build carbon capture facilities that will curb greenhouse gas emissions, the country's main energy industry group said on Thursday. The Canadian Association of Petroleum Producers (CAPP)... 

Gas prices, Europe’s energy crunch threaten Biden climate push

By: Bloomberg     7th October 2021 Allies of the oil and coal industry have seized on energy crises overseas and rising gasoline prices in the US to counter President Joe Biden’s plans to combat climate change and force a rapid shift to renewable power. They’re warning that the dilemma now facing Europe -- where energy shortages... 

A photo of Joe Biden
US President Joe Biden

Fracking is going electric and not everyone is impressed

By: Bloomberg     6th October 2021 Low-carbon fracking - as oxymoronic as it sounds - is gaining traction across the US But since it still extracts the very oil and gas that fossil-fuel critics want the world to stop consuming altogether, not everyone’s convinced. The process of fracturing shale rock formations under high pressure... 

Gas consumption continues to grow - statistics

By: Esmarie Iannucci     5th October 2021 Gas consumption in Australia increased by 4% in 2019-20, the 2021 Australian Energy Statistics has shown. Minister for Energy and Emissions Reduction Angus Taylor said that the growth in gas consumption underscored the important role the gas-fired recovery is playing in driving Australia’s... 

Chevron funds CCS studies in Aus

By: Esmarie Iannucci     5th October 2021 US energy major Chevron has teamed up with the Australian School of Petroleum and Energy Resources to support of carbon capture and storage (CCS) research. Chevron will contribute more than A$2.45-million to create a new facility for carbon storage research that will accelerate Australia’s... 

Headwinds mounting for world economy into final stretch of 2021

By: Bloomberg     4th October 2021 The global economy is entering the final quarter of 2021 with a mounting number of headwinds threatening to slow the recovery from the pandemic recession and prove policy makers’ benign views on inflation wrong. The spreading delta variant continues to disrupt schools and workplaces. US lawmakers... 

Fossil fuel firms investing in Africa face 'risk of regulatory action' - US climate envoy

By: Reuters     1st October 2021 Western fossil fuel companies investing in Africa face a significant risk of regulatory action that's getting more explicit as the world moves to try to tackle dangerous climate change, a US climate envoy said on Friday. During a virtual media briefing while in South Africa as part of a... 

Welding solutions provider breaks into mining

By: Theresa Bhowan-Rajah     1st October 2021 With its extensive experience in the welding industry, cutting tool solutions provider First Cut states that it has “only just begun to scratch the surface” in building a customer base in the mining industry. “We have assembled a team of individuals with experience in sales, training and product... 

Messer cylinder pressure regulator on white background
BREAK THROUGH First Cut aims to become one of the major suppliers of quality welding and oxy-fuel products to the South African mining market

Australian resource exports set for record heights

By: Esmarie Iannucci     30th September 2021 New data from the Office of the Chief Economist has predicted that Australia’s resources and energy exports will earn a record A$349-billion for 2021-22. This forecasted earning was up from the A$310-billion reported in 2020-21, and will be driven by a strong recovery for coal and despite lower... 

Image shows container ship at Port Hedland

Beach signs gas deal with BP, sets out future growth aspirations

By: Esmarie Iannucci     28th September 2021 Oil and gas major Beach Energy has struck a heads of agreement (HoA) with BP in Singapore, to sell its share of liquefied natural gas (LNG) from the from Waitsia Gas Project Stage 2. Beach and JV partner Mitsuie E&P Australia last year committed to the initial funding for the 250 TJ/d Waitsia... 

Arctic oil and gas exploration is booming despite climate fears

By: Bloomberg     23rd September 2021 Oil and gas companies are being bankrolled by some of the biggest names in finance to tap the Arctic’s vast natural wealth even as warnings grow about the melting ice cap due to man-made global warming. Gazprom, ConocoPhillips and TotalEnergies are among energy firms expanding their fossil-fuel... 

Onshore gas development safe - Appea

By: Esmarie Iannucci     23rd September 2021 A landmark four-year environmental study into onshore gas resource development in Queensland, South Australia and the Northern Territory has indicated that the resource can be developed safely. The Australian Petroleum Production and Exploration Association (Appea) said this week that the... 

Strategic plans unveiled for North Bowen and Galilee basins

By: Esmarie Iannucci     23rd September 2021 The federal government has unveiled the North Bowen and Galilee Basin Strategic Basin Plan, aimed at turbocharging economic development and jobs in central Queensland by unlocking the gas resources in the North Bowen and Galilee basins. “The plan supports industry to develop the region’s major... 

Canada’s oil industry seeks support from re-elected Trudeau

By: Bloomberg     21st September 2021 Canada’s largest oil and natural gas lobbying group is calling for support from re-elected Prime Minister Justin Trudeau following an election campaign that featured vows to cut the industry’s emissions. “This election result reaffirms the uncertainty in Canada as we continue to struggle with... 

Shell divests of Permian assets

By: Esmarie Iannucci     21st September 2021 Oil and gas major Shell has struck a $9.5-billion agreement to sell its Permian business to ConocoPhillips, subject to regulatory approvals. Shell’s Permian business includes ownership in approximately 225 000 acres with current production of around 175 thousand barrels equivalent per day. 

Canada's oil patch heading for hospital triage with virus raging  

By: Bloomberg     20th September 2021 Canada’s oil heartland of Alberta has been hit with its most dangerous Covid-19 wave, with hospital intensive care beds filling up so quickly that health professionals are preparing to make decisions about who lives and who dies. Provincial Premier Jason Kenney announced new isolation measures... 

Qld gas set to power the economy - report

By: Esmarie Iannucci     20th September 2021 An independent report commissioned by the Australian Petroleum Production and Exploration Association (Appea) has found that fully unleashing Queensland’s gas industry potential could result in a further A$30-billion in investment producing 7 000 PJ of production capacity in the Queensland oil... 

Trudeau pledges to cut Canada's oil emissions even as country keeps pumping more

By: Bloomberg     14th September 2021 Prime Minister Justin Trudeau's promise to reduce Canada's oil sector emissions starting in 2025 looks unlikely to slow the growth of crude production, environmental activists and oil companies say, raising questions about how effectively the pledge will help meet the country's goals to slow... 

An image of Justin Trudeau
Canadian =Prime Minister Justin Trudeau

Santos signs up for CCS in the Timor Sea

By: Esmarie Iannucci     14th September 2021 Oil and gas major Santos has inked a memorandum of understanding (MoU), as operator of the Bayu-Undan joint venture (JV), with the Timor-Leste regulator Autoridade Nacional do Petróleo e Minerais (ANPM) to progress carbon capture and storage (CCS) in the Timor Sea. The MoU details the areas the... 

Cooper Energy inks more gas deals with AGL

By: Esmarie Iannucci     13th September 2021 Gas producer Cooper Energy has struck a gas sales agreement (GSA) with fellow listed and AGL Energy for all developed and un-contracted volumes from the Casino, Henry and Netherby fields in the Otway basin, effective from January next year. The two companies have also amended the existing Sole... 

Angola’s modest oil output goal reveals a truth on global supply

By: Bloomberg     10th September 2021 Want proof of how hard it is for some oil-producing countries to lift supply? Look no further than the west African nation of Angola. State Secretary for Petroleum and Gas Jose Barroso said Thursday that the country aims to keep production above 1.1-million barrels a day in the coming years. 

Comet raises funds for Maholo drilling

By: Esmarie Iannucci     10th September 2021 ASX-listed Comet Ridge has raised A$5-million in a share placement to bolster its working capital position ahead of starting an appraisal programme at the Mahalo North gas project, in Queensland. The placement comprises the issue of more than 64.4-million new shares at an issue price of 8.25c... 

Santos and Oil Search formalise merger

By: Esmarie Iannucci     10th September 2021 The merger between oil and gas major Santos and fellow listed Oil Search has been formalised, following a due diligence by both companies. Under the terms of the merger, Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of the Scheme... 

Image shows two hands shaking

House set to advance offshore drilling ban in $31bn bill

By: Bloomberg     9th September 2021 Congressional Democrats are poised to advance sweeping legislation to combat climate change that would, if the Senate goes along, block drilling in most US offshore waters and invest tens of billions of dollars in resilience measures. The bill, set to be approved by the House Natural Resources... 

House set to advance offshore drilling ban in $31bn bill

Mining drives WA to a A$5.6bn surplus

By: Esmarie Iannucci     9th September 2021 The Western Australian government is predicting a surplus of A$5.6-billion for 2020/21, driven by a strong economy and increased revenues from the resources sector. For 2021-22, the state government is currently predicting a surplus of A$2.8-billion, with strong surpluses expected to continue... 

Senex to supply gas to Qld zinc mine

By: Esmarie Iannucci     9th September 2021 ASX-listed Senex Energy has inked a gas sales agreement with zinc miner New Century Resources for the sale of 7 PJ of natural gas over a three-year period Senex on Thursday announced that the natural gas would be supplied to New Century at the Diamantina power station in Mount Isa, generating... 

Santos eyes zero-emissions as Oil Search refinances

By: Esmarie Iannucci     9th September 2021 Takeover target Oil Search has secured a $565-million non-amortising revolving credit facility with an expiry date of December 2026, from abanking group comprises banks from Papua New Guinea (PNG), Australia, Asia and the US. The new corporate facility replaces the previous $600-million... 

World's largest plant capturing carbon from air starts in Iceland

By: Reuters     8th September 2021 The world's largest plant that sucks carbon dioxide directly from the air and deposits it underground is due to start operating on Wednesday, the company behind the nascent green technology said. Swiss start-up Climeworks, which specialises in capturing carbon dioxide directly from the air, has... 

Appea blasts lack of gas mention in WA strategy

By: Esmarie Iannucci     8th September 2021 The Australian Petroleum Production and Exploration Association (Appea) this week said that the Western Australian government had ‘missed an opportunity’ with its resources sector strategy, as it did not acknowledge the critical role that a reliable and affordable supply of energy, particularly... 

Extractives sector moves to turn the tide on corruption

By: Creamer Media Reporter      7th September 2021 Governments, business and civil society are uniting in the fight against corruption in the extractives sector, demonstrating support and commitment for beneficial ownership transparency. The Extractive Industries Transparency Initiative (EITI) reports that anonymous ownership of companies can be... 

A photo of an openpit mining operation

EPA approves $4.5bn Perdaman plant

By: Esmarie Iannucci     7th September 2021 The Western Australian Environmental Protection Authority (EPA) has approved plans by multinational Perdaman to construct and operate a urea plant within the Burrup Strategic Industrial Area. Perdaman is proposing to invest $4.5-billion to develop the plant that will transform natural gas into... 

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