R/€ = 20.55 Change: -0.04
R/$ = 17.43 Change: 0.04
Au 1938.25 $/oz Change: -56.99
Pt 939.06 $/oz Change: -26.08

Oil and Gas News

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... 

Great Australian Bight exploration a step closer

By: Esmarie Iannucci     19th December 2019 The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has accepted global energy player Equinor’s environment plan for exploratory petroleum drilling in the Great Australian Bight, which represents the second of four approvals required before activity can... 

BP and Chevron agree to major Australian exploration spend

By: Esmarie Iannucci     19th December 2019 Energy giants BP and Chevron will invest a combined A$116.5-million in oil and gas exploration activities in Australia, with at least half directed to projects in South Australia with a view to increasing energy supplies in the state and south-eastern Australia. Minister for Resources Matt... 

Anglo firms up technology advance with space boffins 

By: Martin Creamer     19th December 2019 Diversified mining company Anglo American has announced a $13.5-million agreement with First Mode to develop innovative technology for the mining industry. First Mode, of Seattle, which has been working with Anglo to develop the world’s biggest hydrogen fuel cell haul truck for Anglo American... 

Anglo firms up technology advance with space boffins
Photo by First Mode
Hydrogen and fuel cell haulage

Orsted divests LNG business to Glencore

By: Reuters     18th December 2019 Danish energy group Orsted said on Wednesday it has agreed to divest its liquefied natural gas business to trading house Glencore . The LNG business is loss-making and the divestment - which fits into Orsted's strategy to focus on expanding in renewable energy - will include a payment from the... 

France's Total buys stakes in two Angola offshore oil blocks

By: Reuters     17th December 2019 Total said on Monday it had acquired interests in two new offshore licences in Angola with a view to developing a new production hub alongside the French oil major's partners. Wells drilled so far in the two blocks have produced four discoveries, Total said. It will pay Angolan state oil firm... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power

By: Simone Liedtke     17th December 2019 Drilling at emerging natural gas and helium producer Renergen’s Virginia project, in the Free State, has progressed through the Karoo Supergroup and successfully intersected gas-charged sandstones and fractures, as was previously expected, the company reported on Monday. The gas was intersected... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power
CEO Stefano Marani

WA's gas supply to surpass demand

By: Esmarie Iannucci     16th December 2019 A new report by the Australian Energy Market Operator (AEMO) has highlighted that Western Australia’s potential gas supply could exceed forecast domestic demand over the next ten years. In the 2019 Western Australia Gas Statement of Opportunities, the AEMO noted that in the base-case scenario,... 

WA's gas supply to surpass demand

Oil and gas producers taxed A$5.8bn in 2017/18

By: Esmarie Iannucci     13th December 2019 Australia’s oil and gas industry contributed around A$5.8-billion in taxes, rents and royalties in 2017/18, new data by the Australian Petroleum Production and Exploration Association (Appea) has shown. In its 31st financial survey, Appea showed that the industry had reported a record overall... 

Oil and gas producers taxed A$5.8bn in 2017/18

Newcrest and Chevron strike gas deal

By: Esmarie Iannucci     13th December 2019 The Western Australian Chamber of Minerals and Energy (CME) has welcomed an agreement between gold miner Newcrest and US energy major Chevron, for the delivery of natural gas from the Wheatstone, Gorgon and North West Shelf projects. Chevron Australia MD Al Williams was quoted on Friday as... 

Canada will consider climate plan in Teck oil project decision - Minister

By: Reuters     13th December 2019 The government will take into account its plan to make Canada carbon neutral by 2050 when it considers whether to approve Teck Resources' plan for a giant oil sands mine, the new environment minister said on Thursday. Teck wants approval for its C$20.6-billion Frontier project, which involves an... 

Woodside still committed to Kitimat

By: Esmarie Iannucci     12th December 2019 Australian oil and gas major Woodside on Thursday said that the company remained committed to the Kitimat liquefied natural gas (LNG) project, in British Columbia, after US major Chevron announced plans to exit the asset. Chevron holds a 50% stake in Kitimat. 

Woodside still committed to Kitimat

FAR raises A$176m for Senegal project

By: Esmarie Iannucci     12th December 2019 Africa-focused oil and gas developer FAR on Thursday announced plans to raise up to A$176-million to fund the development to first oil at its Sangomar oil field, offshore Senegal. The company will raise an initial A$146-million through a conditional share placement, priced at 4.25c each, with... 

Senex extends Orora contract

By: Esmarie Iannucci     11th December 2019 ASX-listed Senex Energy has expanded its natural gas sales agreement with packaging manufacturer Orora. In May this year the two companies struck a two-year sales agreement for the supply of 3.3 PJ of natural gas from Project Atlas, starting in January next year.  

Project Atlas delivers first gas sales

By: Esmarie Iannucci     10th December 2019 Project Atlas has delivered its first gas sales into the east coast market ahead of schedule, with the gas sold to Queensland power generator CleanCo. ASX-listed Senex Energy on Tuesday said that the agreement with CleanCo complemented Project Atlas’ gas sales agreement with CSR and Orora, which... 

Why Bitcoin mining is being touted as a solution to gas flaring

By: Bloomberg     9th December 2019 A Denver-based company that installs data centers at shale drilling sites to take advantage of excess natural gas supplies says it now has eight operations across the US and plans another 30 in the first half of next year. The centers are being touted as a way to solve the growing problem of gas... 

Britain's Tullow Oil shares plunge over 50% as CEO resigns

By: Reuters     9th December 2019 Tullow Oil shares more than halved on Monday as CEO Paul McDade stepped down and the energy company scrapped its dividend after failing to meet production targets due to weak performance by flagship assets in Ghana. The company has been plagued by technical problems at its Jubilee field in Ghana... 

Opec+ agrees to redistribute oil cuts under Saudi pressure

By: Bloomberg     6th December 2019 Opec+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden. The group, which pumps more than half the world’s oil, agreed in Vienna on Friday to reduce its output target by 500... 

Reservation policy working - Canavan

By: Esmarie Iannucci     6th December 2019 Federal Resources Minister Matt Canavan has alluded that the government would look at expanding the gas reservation policy to ensure continued gas supply to the east coast market. Quoting data from the recently released report by energy commentator EnergyQuest, Canavan noted that that east... 

Cooper JV completes BHP's Minerva buy

By: Esmarie Iannucci     5th December 2019 ASX-listed Cooper Energy on Thursday has completed the acquisition of mining major BHP’s 90% interest in the Minerva joint venture (JV), in Victoria. Cooper Energy, in a JV with AWE and Mitsui E&P Australia struck an agreement with BHP in May last year to acquire the major’s interest in the... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary 

By: Terence Creamer     4th December 2019 The promoters of liquefied natural gas (LNG) import terminals at Maputo, in Mozambique, and Richards Bay, in South Africa, insist that the two proposed projects can be complimentary rather than competitive as there is sufficient existing demand and growth potential in the region to support both... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary

US Supreme Court leans toward BP unit in Montana Superfund case

By: Reuters     3rd December 2019 US Supreme Court justices on Tuesday appeared inclined to shield a unit of British oil major BP from claims seeking a more extensive cleanup of a Superfund hazardous waste site in Montana than what federal environmental officials had ordered. The nine justices heard arguments in an appeal by... 

India plans synergies between oil companies through equity cross holding

By: Ajoy K Das     3rd December 2019 India’s second largest oil and gas exploration and production company, State-run Oil India Limited (OIL), will pick up a majority stake in standalone oil refinery, Numaligarh Refineries Limited (NRL). The consolidation of operations of OIL and State-run NRL comes close on the heels of the latter... 

Base metals fundamentally in good shape despite lower demand – Glencore

By: Martin Creamer     3rd December 2019 Despite weaker 2019 demand, base metals are fundamentally in good shape, Glencore CEO Ivan Glasenberg said on Tuesday. Presenting an investor update with Glencore CFO Steve Kalmin and Glencore industrial assets head Peter Freyberg, Glasenberg described copper, zinc and nickel markets as being... 

Base metals fundamentally in good shape despite lower demand – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Oil sands giants restrain spending as pipeline pinch persists

By: Bloomberg     3rd December 2019 Capital spending in Canada’s oil-sands reserves look set to continue to dwindle as pipeline bottlenecks persist and the Alberta government’s production limits remain in place. Husky Energy said early Monday that it’s cutting capital spending for 2020 and 2021 by a total of C$500-million, and... 

Red Emperor secures option to buy Perth basin oil play

By: Creamer Media Reporter      3rd December 2019 Western Australian exploration company Red Emperor Resources on Tuesday announced that it had secured an option to acquire a 70% operated interest a large offshore block in the shallow waters of the North Perth basin. The company entered into a binding letter of intent with ASX-listed joint... 

Santos revises 2025 production targets upwards

By: Marleny Arnoldi     3rd December 2019 ASX-listed Santos has revised its 2025 production target to 120-million barrels of oil equivalent, which is more than double its 2018 output. The new target, up from the 100-million-barrel guidance set in 2018, represents a cumulative annual growth rate in production of 8% to 2025.  

Specialty chemicals company showcased oil and gas portfolio at ADIPEC

29th November 2019 Specialty chemicals company Evonik participated at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) held earlier this month, from November 11 to 14 at the Abu Dhabi National Exhibition Centre.   

S Africa has adequate oil and gas expertise

29th November 2019 The South African Oil & Gas Alliance (SAOGA) acting CEO Adrian Strydom is confident that South Africa has amassed adequate oil and gas expertise that will enable the country to service Southern Africa as well as the rest of the world. “There is sufficient capacity to compete with the rest of the... 

Mantashe outlines case for gas

29th November 2019 Mineral Resources and Energy Minister Gwede Mantashe urged investors to invest in, and help develop, South Africa’s gas industry. Addressing delegates on the opening day of Africa Oil Week in Cape Town earlier this month, Mantashe referred to South Africa’s recently approved Integrated Resource... 

IRP’s approach to LNG surprising

29th November 2019 The South African Oil and Gas Alliance (SAOGA) cautiously welcomed the certainty and direction provided by the recently released Integrated Resource Plan (IRP), but noted the lower than expected role of gas in South Africa’s envisaged energy mix, SAOGA executive director Niall Kramer stated.... 

Partnership promotes pipeline tech

29th November 2019 Pressurised pipeline isolation, hot tapping and plugging services provider STATS Group has signed an exclusive partnership with oil and gas diversified product supplier Safari Oil & Gas in the Kingdom of Saudi Arabia.   

India’s domestic gas trading hub likely to be operationalised in March

By: Ajoy K Das     28th November 2019 India’s protracted efforts to set up a domestic natural gas hub are expected to come to fruition in March 2020, when a national gas trading exchange is expected to become operational. The Indian Energy Exchange – the nationwide automated platform for physical delivery of electricity – will set up... 

Oil and gas producers invest in training

By: Esmarie Iannucci     27th November 2019 The Australian Petroleum Production and Exploration Association (Appea) has announced a A$400 000 investment by Australia’s oil and gas industry to support the Western Australian government’s liquefied natural gas (LNG) jobs taskforce. The funds would go towards an industry-led initiative to... 

Six juniors to scope South Africa’s onshore hydrocarbon potential  

By: Marleny Arnoldi     26th November 2019 The Petroleum Agency of South Africa (Pasa) has awarded hydrocarbon exploration licences totalling 30 132 km2 to six junior mining companies in a bid to help resolve the country’s energy crisis. There has been very little hydrocarbon exploration activity onshore in South Africa when compared... 

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