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Oil and Gas News

Sasol mulling several gas supply options as it seeks to reduce carbon footprint   

By: Terence Creamer     28th October 2019 Chemicals and energy group Sasol is investigating several gas-supply alternatives for its coal-heavy South African operations as it seeks ways to reduce its carbon footprint. The JSE-listed group is simultaneously working on a ‘sustainability roadmap’, which will have a strong focus on lowering... 

Beach makes discovery in Perth basin

By: Esmarie Iannucci     28th October 2019 The share price of ASX-listed Beach Energy jumped Monday on the announcement of a new conventional gas discovery in the Perth Basin. The new discovery was made at the Beharra Springs Deep-1, in which Beach holds a 50% interest. 

Karoon raises initial A$175m

By: Esmarie Iannucci     25th October 2019 ASX-listed Karoon Gas has partially completed it’s a$284-million capital raise, with both the institutional placement and the non-renounceable entitlement offer closing significantly oversubscribed. The institutional component of the placement raised A$67-million while the 1-for1.06 pro rata... 

SA mining urged to reform, embrace technology to overcome current challenges

By: Simone Liedtke     25th October 2019 As a primary sector in South Africa’s struggling economy, government and industry must collaborate on policy and overcome a myriad of challenges to stimulate the South African mining sector and drive long-term investment. At the Joburg Indaba 2019, held earlier this month at Inanda Club, in... 

SA mining urged to reform, embrace technology to overcome current challenges

Mid-2020 debut for world’s largest hydrogen mine haul truck – Anglo 

By: Martin Creamer     24th October 2019 The first motion of the world’s largest hydrogen-powered mine haul truck is scheduled for mid-2020, with testing continuing at Anglo American Platinum’s Mogalakwena mine until the end of the year. This climate-positive development by London- and Johannesburg-listed Anglo American will be open to... 

Mid-2020 debut for world’s largest hydrogen mine haul truck – Anglo
Photo by Anglo American
Graphic of solar panels providing electricity for hydrogen-powered haul trucks.

Nigeria bid to boost mining gets help from West Africa gold rush

By: Bloomberg     24th October 2019 Nigeria’s efforts to persuade investors that it could become a mining destination for metals is receiving a boost from a small Canadian company joining a rush for gold in West Africa. The western tip of the continent is seen as a new frontier as gold miners face a dearth of new discoveries globally. 

Karoon sets A$284m raising target

By: Esmarie Iannucci     23rd October 2019 ASX-listed Karoon Energy will raise A$284-million through a fully underwritten equity raising to complete the funding to acquire the the Baúna oil field, in the Santos basin, offshore Brazil, and to support future growth initiatives. The equity raise will comprise a A$67-million institutional... 

Oil Search production stumbles in Sept quarter

By: Esmarie Iannucci     22nd October 2019 Energy major Oil Search has reported a slight decline in production during the three months to September. The ASX-listed company reported a total production of 6.81-million barrels of oil equivalent, down from the 6.88-million barrels produced in the previous quarter, while sales volumes also... 

Renergen completes commissioning of second CNG filling station 

By: Simone Liedtke     21st October 2019 Emerging natural gas and helium producer Renergen has completed the commissioning of its second compressed natural gas (CNG) filling station, in Johannesburg. The filling station will begin supplying CNG to Black Knight Logistics for a fleet of about 15 trucks, starting this month. 

Renergen completes commissioning of second CNG filling station
Renergen's second compressed natural gas filling station, in Johannesburg

Colorado tightens restrictions on oil, gas drilling near homes

By: Bloomberg     18th October 2019 It wasn’t so long ago that Coloradans voted against a bid to block oil and gas development near homes. The state – one of the nation’s top crude-producing regions – is cracking down anyway. Companies planning to drill wells within 610 m of a home should now expect additional scrutiny from... 

Russia’s thawing permafrost worrying for mining, oil and gas companies

By: Bloomberg     18th October 2019 Russia plans to pay more attention to the impact climate change is having on its vast permafrost area. Thawing of once permanently frozen ground covering more than half of Russia is putting buildings, pipelines and other infrastructure at risk of damage. With the Arctic warming twice as fast as... 

Russia’s thawing permafrost worrying for mining, oil and gas companies

Anglo’s Los Bronces targeting 30% cut in greenhouse gas emissions 

By: Martin Creamer     18th October 2019 Anglo American’s Los Bronces copper mine in Chile is targeting a 30% reduction of greenhouse gas emissions in the next ten years, with its two other environmentally protective, same-period goals being 50% less water abstraction and 30% less energy use. The 152-year-old mine, located in the... 

Anglo’s Los Bronces targeting 30% cut in greenhouse gas emissions
Los Bronces GM Patricio Chacana speaking to media including Mining Weekly Online.

Production and sales volumes rise at Woodside

By: Esmarie Iannucci     17th October 2019 ASX-listed Woodside Petroleum has reported a 44% increase in production volumes for the three months to September, compared with the previous quarter, with sales revenue up by 58% over the same period. Woodside on Thursday reported that production levels for the September quarter had reached... 

Santos sets new records in September quarter

By: Esmarie Iannucci     17th October 2019 Australian oil and gas major Santos has reported record quarterly production and sales volumes for the September quarter. The ASX-listed company produced 19.8-million barrels of oil equivalent during the third quarter, a 32% increase on the previous corresponding period, and setting a new... 

A fortune lies in Canada’s oil sands. Many voters want to leave it there

By: Bloomberg     17th October 2019 At the Fish Place diner in Fort McMurray, booths are filled with oil workers in baseball caps and the parking lot is lined with pickup trucks sporting six-foot neon safety flags, a hallmark of the mining industry. Fort McMurray is the regional hub for the oil sands that produce two-thirds of... 

A fortune lies in Canada’s oil sands. Many voters want to leave it there

Natural gas delivers A$55bn in benefits to Qld - report

By: Esmarie Iannucci     15th October 2019 New research by Lawrence Consulting has shown that the natural gas industry had contributed some A$55-billion to Queensland’s economy over the last seven years. The report found that nearly A$5-billion was spent on wages state-wide between 2011 and 2018, with the industry employing around 4 600... 

Karoon finds funding for Baúna buy

By: Esmarie Iannucci     15th October 2019 ASX-listed Karoon Gas has secured a $275-million senior secured term loan facility to partly fund the acquisition of the Baúna oil field, in the Santos basin, offshore Brazil. Karoon in July this year announced its plans to acquire the Baúna oil field for a headline consideration of... 

Santos eyes more exploration in Northern Australia

By: Esmarie Iannucci     15th October 2019 Australian oil and gas major Santos has signed a binding term sheet with ASX-listed Armour Energy over its South Nicholson Basin oil and gas exploration project, in Northern Australia. Armour’s South Nicholson Basin exploration project covers some 408-million acres and includes both a granted... 

ExxonMobil, IOC tie up for LNG projects in India

By: Ajoy K Das     15th October 2019 ExxonMobil India LNG, a subsidiary of ExxonMobil from the US, has signed a memorandum of understanding (MoU) with State-run oil refiner-marketer Indian Oil Corporation Limited (IOC) to examine liquefied natural gas (LNG) projects in the country. “The companies together will focus on exploring... 

Total joins forces with Adani in India

By: Esmarie Iannucci     14th October 2019 Global energy player Total will partner with Indian major Adani to develop the Indian natural gas market. Total will purchase 37.4% shares in Adani Gas through a tender offer to public shareholders to acquire up to 25.2% shares subject to applicable regulations and purchase the residual shares... 

Santos buys ConocoPhillips' Australian assets

By: Esmarie Iannucci     14th October 2019 Australian energy major Santos has struck a $1.39-billion deal to acquire ConocoPhillips’ northern Australian business, which includes its share in the Darwin liquefied natural gas (LGN) project, and the Bayu-Undan, Barossa and Poseidon assets. “Santos was a founding partner with ConocoPhillips... 

Santos buys ConocoPhillips' Australian assets

BP looks to reach divestments worth $10bn by year-end

By: Creamer Media Reporter      11th October 2019 British energy major BP said on Friday that it expected to deliver divestment proceeds of $10-billion by the end of this year, with significant contributions from the agreed sale of its Alaska assets and US shale divestments. The $5.6-billion sale of BP's Alaskan business to Hilcorp, announced... 

Origin starts drilling in NT

By: Esmarie Iannucci     11th October 2019 Federal Resources Minister Matt Canavan has welcomed the start of drilling activity in the Beetaloo Basin, in the Northern Territory, where ASX-listed Origin Energy is spudding the first well since the moratorium on hydraulic fracturing was lifted in 2018. “Exploration and production in the... 

Nigeria demands $62bn from oil majors for past profits

By: Bloomberg     10th October 2019 Nigeria is seeking to recover as much as $62-billion from international oil companies, using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts. The proposal comes as President Muhammadu Buhari tries to bolster revenue after a... 

World’s largest hydrogen haul truck on way – Anglo 

By: Martin Creamer     10th October 2019 Diversified mining company Anglo American on Thursday announced its agreement with global energy and energy services company ENGIE to develop and fuel the world’s largest hydrogen-powered mine haul truck. The agreement was signed onboard the Energy Observer, the world’s first fully electric... 

World’s largest hydrogen haul truck on way – Anglo
Tony O’Neill

Roma North boots up

By: Esmarie Iannucci     10th October 2019 Natural gas production at the Roma North project, in the Western Surat Basin, has continued to increase following its commissioning in May, with ASX-listed Senex Energy reporting that it has reached a 11 TJ/d output. The current production levels are up around 40% compared with those achieved... 

Small ships are next big thing for this $150bn market

By: Bloomberg     9th October 2019 Giant ocean-going tankers built the liquefied natural gas (LNG) industry into a $150-billion-a-year business. The next expansion opportunity may come from ships a seventh of the normal size. Fifty-five years after the first commercial LNG tanker sailed from Algeria, this segment of the gas... 

Biodiversity, climate everyone’s issues – Environment Minister  

By: Martin Creamer     8th October 2019 South Africa is one of the world’s top three mega biodiverse nations along with Brazil and Indonesia, said Environment Forestry and Fisheries Minister Barbara Creecy in her address to the Oppenheimer Research Conference (ORC). “We are thus one of the richest countries in terms of the diversity of... 

Biodiversity, climate everyone’s issues – Environment Minister
Environment, Forestry and Fisheries Minister Barbara Creecy ORC presentation by Mining Weekly's Martin Creamer. Camera Work: Darlene Creamer

China grants rare crude import licenses to Glencore's JV, local firm

By: Reuters     8th October 2019 China's commerce ministry granted crude oil import licences to two Zhejiang-based petroleum companies in eastern China, including a trading joint venture partly held by commodities trader Glencore. Zhejiang Petroleum Trading Co and Zhejiang Petroleum & Chemical Co will receive the so-called... 

New gas pipeline project prompts Essar Group to ramp up CBM production

By: Ajoy K Das     8th October 2019 The imminent completion of a critical natural gas pipeline connecting the northern and eastern Indian states has prompted Essar Oil and Gas Exploration and Production Limited (EOGEPL) to firm up plans to double coal-bed methane (CBM) gas production from its existing Raniganj coal blocks in West... 

Canadian heavy oil falls as Alberta crude-by rail deal nears

By: Bloomberg     8th October 2019 Canadian heavy oil prices have weakened ahead of an anticipated announcement that Alberta will ease production limits in exchange for shipping more crude by rail. Western Canadian Select’s discount for November to futures widened $1.30/bbl to $15.75 Monday, for the biggest differential since... 

Exxon awards contract for Africa’s biggest-ever private project

By: Bloomberg     8th October 2019 Exxon Mobil awarded a JGC Corp-led group a contract to develop its Mozambique liquefied natural gas (LNG) project, which is set to be the biggest ever private investment in Africa. JGC will be joined by Fluor and TechnipFMC to develop the Rovuma LNG project, Exxon senior VP for LNG Peter Clarke... 

Siemens backs mega green power hydrogen project in Australia

By: Bloomberg     8th October 2019 Siemens is partnering on a 5 000 MW combined solar and wind farm in Western Australia that will produce renewable hydrogen for potential export to Asia. The Murchison facility will use Siemens’ electrolyser technology to convert power from the solar and wind units into hydrogen, it said in a... 

Project Atlas produces first gas

By: Esmarie Iannucci     8th October 2019 First gas has been produced at Project Atlas, marking another major achievement just days after a 60-km pipeline linking the natural gas project to the Walumbilla Hub, was completed. ASX-listed Senex Energy in August this year launched a drilling campaign at Project Atlas, and 11 wells of the... 

Project Atlas produces first gas

ExxonMobil assets set for chopping block

By: Esmarie Iannucci     7th October 2019 Analysts Wood Mackenzie say that global oil and gas major ExxonMobil might have difficulty finding buyers for its Asia Pacific assets, as the company considers a divestment programme that could be worth as a much as $5-billion. ExxonMobil has previously revealed its ambitions to divest up to... 

ExxonMobil assets set for chopping block

Investment in climate-positive companies growing – Joburg Indaba  

By: Martin Creamer     7th October 2019 Asset managers globally have become the lightning rod of populist views in Western countries, with the conversation now dominated by climate-change issues within the environmental, social and governance (ESG) paradigm as well as what the prospective upheaval in the vehicle industry means for... 

Investment in climate-positive companies growing – Joburg Indaba
Mining Weekly's Martin Creamer on Joburg Indaba climate discussion. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala. Photo: Dylan Slater.

BP CEO Bob Dudley to step down, succeeded by oil-drilling chief

By: Bloomberg     4th October 2019 BP said CEO Bob Dudley will retire early next year, a much-anticipated step after more than nine years at the helm of the oil and gas giant. He’s succeeded by Bernard Looney, the head of upstream who has led BP into new countries and championed the latest technology. 

BP CEO Bob Dudley to step down, succeeded by oil-drilling chief
BP's new CEO, Bernard Looney

Environment government’s most important Ministry – Oppenheimer  

By: Martin Creamer     4th October 2019 The Environment Ministry is the most important ministry in the government, former mining luminary Nicky Oppenheimer said at this week’s tenth Oppenheimer Research Conference. “Environment is at the forefront of everybody’s mind, and we in South Africa are unbelievably blessed with the environment... 

Environment government’s most important Ministry – Oppenheimer
Former mining luminary Nicky Oppenheimer covered by Mining Weekly’s Martin Creamer. Camera Work: Darlene Creamer. Photograph: Dylan Slater.
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