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Oil and Gas News

Coronavirus impedes Alberta’s drive to reach oil markets in Asia

By: Bloomberg     5th February 2020 The coronavirus is hampering the Canadian oil industry’s efforts to build relations with crude buyers in Asia. A group of “energy-related” business executives were planning a trip to China in the middle of February, but those plans had to be scrapped due to the ongoing coronavirus epidemic,... 

Oil Search disappointed in P'nyang delay

By: Esmarie Iannucci     4th February 2020 Oil and gas producer Oil Search has expressed its disappointment after the Papua New Guinea (PNG) government halted talks with partner ExxonMobil on a potential A$20-billion expansion of liquefied natural gas (LNG) operations in the region. PNG Prime Minister James Marape said in a statement... 

Origin posts solid results on APLNG record

By: Esmarie Iannucci     31st January 2020 ASX-listed energy provider Origin Energy has reported a 4% increase in quarterly revenues from its integrated gas business, as the Australia Pacific liquefied natural gas (APLNG) project delivered record production. “APLNG has again delivered a strong performance with record production and 35... 

Teck’s proposed oil-sands mine gets support from rival producers

By: Bloomberg     31st January 2020 Teck Resources’ proposed Frontier oil-sands mine won votes of confidence from the heads of two rival crude producers as Canada weighs a decision on the project. The mine in Alberta won the green light from a government panel last year, and Prime Minister Justin Trudeau’s Cabinet may decide on... 

Santos/Beach sign new gas deal with Qenos

By: Esmarie Iannucci     31st January 2020 Oil and gas major Santos and its joint venture (JV) partner Beach Energy has extended an ethane gas supply agreement with Australia’s sole manufacturer of polyethylene, Qenos. The new sales agreement will enable Qenos to maintain its operations at Botany Bay in Sydney and secure over 500 jobs... 

Federal and NSW govts strike gas deal

By: Esmarie Iannucci     31st January 2020 The Australian Petroleum Production & Exploration Association (Appea) has welcomed an agreement between the federal and New South Wales governments to facilitate increased gas supply, lower emissions and a more stable power supply. Prime Minister Scott Morrison on Friday announced a landmark... 

Federal and NSW govts strike gas deal
Photo by Bloomberg
Prime Minister Scott Morrison

Qatar not to accede to Indian demand seeking renegotiations of LNG contracts

By: Ajoy K Das     30th January 2020 Qatar, the largest supplier of liquefied natural gas (LNG) to India, has turned down a request from the latter to renegotiate long-term supply contracts. India demanded that the pricing mechanism for LNG imported from Qatar, linked to crude oil, needed to be revisited and long-term contracts... 

Morrison urges more gas extraction

By: Esmarie Iannucci     30th January 2020 The Australian Petroleum Production and Exploration Association (Appea) has welcomed comments by Australian Prime Minister Scott Morrison on the need for greater use of natural gas as Australia. Speaking at the National Press Club, in Canberra, Morrison said that in order to secure lower energy... 

Opec may meet sooner as coronavirus puts oil demand at risk

By: Bloomberg     30th January 2020 The Organisation of Petroleum Exporting Countries (Opec) is considering pushing forward a meeting initially scheduled for March, according to Algeria’s energy minister, after oil prices slumped on concern that the spread of coronavirus would hurt oil demand. Mohamed Arkab said the producer... 

Teck says 'anyone's guess' if Canada will approve oil sands project

By: Bloomberg     29th January 2020 The outcome of the Canadian government's pending decision on whether to approve Teck Resources' Frontier oil sands project is "anyone's guess," the company's chief executive, Don Lindsay, said on Wednesday. At full capacity, the C$20.6-billion Frontier could produce 260 000 barrels per day of... 

Teck says 'anyone's guess' if Canada will approve oil sands project
Don Lindsay

Glencore appoints CEO Glasenberg’s newphew to run oil assets

By: Bloomberg     28th January 2020 Ivan Glasenberg appointed his nephew as head of oil assets at Glencore, the latest changing of the guard in the senior ranks of the world’s largest commodity trader. Colin Glasenberg, who joined Glencore’s energy business in 2011, is now part of senior management and oversees oil fields in Chad... 

Canada could delay decision on Teck's oil sands project, says key Minister

By: Reuters     28th January 2020 Canada has the power to delay a decision on whether to approve a new Teck Resources oil sands project, a key Cabinet Minister said on Tuesday, a sign Ottawa could push back what will be a contentious decision. Ottawa must decide by end-February if Teck can build the C$20.6-billion Frontier mine... 

Amplats earnings set to soar despite power outages 

By: Martin Creamer     28th January 2020 The shareholders of Anglo American Platinum (Amplats) have been advised that the earnings of the platinum group metals (PGMs) mining company for the 12 months to end December are poised to soar sky high, despite the setback of Eskom’s power outages. The big expected earnings increases have been... 

Amplats earnings set to soar despite power outages
Photo by Creamer Media
Chris Griffith

Oil Search shares tumble while output rises

By: Esmarie Iannucci     28th January 2020 The share price of ASX-listed oil and gas producer Oil Search tumbled nearly 8% on Tuesday as lower oil prices, scheduled maintenance and government negotiations in Papua New Guinea impacted its results. Despite the challenges, Oil Search has reported a 3% increase in quarterly production, and... 

Oil Search shares tumble while output rises

Most commodity prices on the rise amid increasing demand, risk appetite

By: Marleny Arnoldi     27th January 2020 The past month has seen a rally in many parts of the commodities complex, owing to the signing of the first phase of a trade deal between China and the US boosting equity markets and risk appetites, states analytics and forecasting organisation Oxford Economics. In its latest commodity price... 

Most commodity prices on the rise amid increasing demand, risk appetite

ONGC gets 28 bids to partner in developing small, marginal oil, gas fields

By: Ajoy K Das     24th January 2020 India’s State-run oil and natural gas exploration and production (E&P) major, ONGC, has received 28 bids for 50 oil and natural gas blocks of the total 64 small and marginal fields that it had put on offer in a search for production-raising partnership. ONGC had clubbed the 64 small and marginal... 

Canavan in no rush to abandon domestic gas security mechanism

By: Esmarie Iannucci     24th January 2020 A review into the Australian Domestic Gas Security Mechanism (ADGSM) has found it has helped lower domestic gas prices while contributing to more secure gas supplies for Australian consumers. “The review confirms the measures taken by the Government in 2017 have been instrumental in stabilising... 

Canavan in no rush to abandon domestic gas security mechanism
Resources Minister Matt Canavan

Senex reports stellar quarter

By: Esmarie Iannucci     23rd January 2020 ASX-listed energy provider Senex Energy has reported a 35% increase oil and gas production during the three months to December, with the company producing 447 000 barrels of oil equivalent. Gas production for the quarter was up 72% on the previous quarter, to 261 000 barrels of oil equivalent,... 

FAR finds buyer for Senegal oil

By: Esmarie Iannucci     22nd January 2020 ASX-listed energy developer FAR has struck a binding memorandum of understanding (MoU) with Glencore Energy for its share of the crude oil produced at the Sangomar field, in Senegal. The joint venture (JV) partners of the Sangomar field development project have recently green-lit the Phase 1... 

Santos reports record year

By: Esmarie Iannucci     22nd January 2020 Oil and gas major Santos has reported a 28% increase in annual production for the full year ending December, marking a record output of 75.5-million barrels of oil equivalent. Sales revenue for the full year was also up by 10%, to a record A$4-billion, from the sale of 94.5-million barrels of... 

Santos reports record year

Senex keeps pace in Surat basin

By: Esmarie Iannucci     22nd January 2020 ASX-listed Senex Energy has reported that production at both the Roma North and Atlas project were outperforming expectations. The Roma North project’s production has exceeded 13.5 TJ/d, and is tracking towards the initial capacity of 16 TJ/d and 6 PJ/y. 

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... 

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