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Oil and Gas News

BHP iron-ore output hits record, but coal suffers from floods

By: Esmarie Iannucci     19th January 2011 Diversified mining group BHP Billiton has set several production records for the second quarter ended December, with iron-ore leading the pack, but heavy rain and flooding in Australia slashed its metallurgical coal output. The world’s largest miner boosted its iron-ore production to... 

Eastern Star Gas acquires land for Newcastle LNG project

By: Esmarie Iannucci     18th January 2011 ASX-listed Eastern Star Gas would spend A$22,5-million to buy land for its Newcastle liquefied natural gas (LNG) project. The company has agreed to buy a 24-ha parcel of land on the Kooragang Island, with the purchase set for completion by late February this year. 

Shell starts public consultation for SA shale gas exploration

By: Loni Prinsloo     17th January 2011 Energy giant Shell has appointed an independent consultancy to compile an environmental management programme for its shale gas exploration activities in South Africa’s Karoo basin. Shell submitted an application to the Petroleum Agency of South Africa (Pasa) for three exploration licences over... 

WA’s Moore reiterates opposition to national offshore regulator

By: Esmarie Iannucci     17th January 2011 The Western Australian government has again expressed its opposition to the introduction of a national offshore petroleum regulator, after the federal government on Monday announced seven new offshore exploration permits. The proposed work programmes across the seven permits will result in... 

New petroleum code for Gabon

By: , Bloomberg     14th January 2011 Gabon will introduce a new petroleum industry code next year to make regulations and production- sharing rules more transparent, the country’s oil ministry says. 

$16bn Queensland gas project approved

By: Esmarie Iannucci     13th January 2011 Gas major Santos and its joint-venture (JV) partners on Thursday gave the green light for a $16-billion investment to develop the 7,8-million ton a year Gladstone liquefied natural gas (GLNG) project, in Queensland. The development approval triggered major works for upstream field development,... 

Molopo Energy to oppose removal of directors

By: Esmarie Iannucci     12th January 2011 ASX-listed Molopo Energy on Wednesday said that it would oppose the election of two new directors to its board to replace chairperson Donald Beard and nonexecutive director David Hobday. The group of shareholders is proposing that Beard and Hobday be removed as directors of the oil and gas... 

Beach urges Impress shareholders to accept offer

By: Esmarie Iannucci     11th January 2011 ASX-listed Beach Energy has encouraged the shareholders of Impress Energy to accept its offer, after declaring its 8,5c a share price final. The deal, which valued Impress at around A$75-million, was agreed to in December, after both parties agreed to scrap a A$73,1-million merger in favour of a... 

Santos says Bonaparte LNG decision expected in 2014

By: Esmarie Iannucci     10th January 2011 ASX-listed gas major Santos and its project joint-venture partner GDF Suez would make a final investment decision on the Bonaparte liquefied natural gas (LNG) project, off the north coast of Australia, in 2014, the companies said on Monday. LNG production at the project was expected to start in... 

BHP to resume WA oil fields output this week

By: Reuters     5th January 2011 BHP Billiton said on Wednesday it will ramp up output at two oil fields in Western Australia to full rate this week as weather conditions have improved. "We can confirm that both the Pyrenees Venture and Stybarrow Venture will ramp back up to full production this week following the low pressure... 

Hawkley says Sorochynska gas production to start soon

By: Esmarie Iannucci     4th January 2011 Oil and gas developer Hawkley said that it expected to start commercial gas production at its Sorochynska asset, in the Ukraine, by mid January. The recently-listed oil and gas company has completed the installation of the pipeline to the gas plant, and has connected the pipeline to the well head. 

Sasol will start feasibility early 2011 on Canada GTL plant

By: Liezel Hill     21st December 2010 South African energy firm Sasol expects to start work early next year on a gas-to-liquids fuel plant in Western Canada, senior group executive Lean Strauss said on Monday. Sasol announced earlier in the day it would pay C$1,05-billion for a 50% stake in shale gas assets owned by Calgary,... 

Castrol unveils fluid and lubrication management systems

By: Megan van Wyngaardt     10th December 2010 International energy group BP reports that it’s lubricants specialist Castrol brand has introduced two new industry-tailored offerings, which aim to increase profitability and deliver specific fluid management needs. 

Beach to make on-market cash offer for Impress

By: Esmarie Iannucci     6th December 2010 ASX-listed Beach Energy and Impress Energy have called off a proposed merger in favour of a takeover of Impress by Beach. Last month, the two companies agreed to a A$73,1-million merger, with Beach acquiring all the issued share capital in Impress for 8,25c a share. 

Woodside pushes back Pluto LNG project, costs rise

By: Esmarie Iannucci     30th November 2010 Oil and gas major Woodside on Tuesday pushed back its project schedule for the Pluto liquefied natural gas (LNG) project amid rising costs. Project start up is now scheduled for August 2011, as opposed to an initial target of March, with the first LNG cargo targeted a month after start-up.  

Woodside makes new gas discovery in WA

By: Esmarie Iannucci     26th November 2010 Australian oil and gas major Woodside has hit gas at its Remy -1 well in the WA 404 P permit, in Western Australia’s Carnarvon basin. The well intersected gas at around 33 m and 39 m, over two separate zones within the Triassic target. The well reached a total depth of 4 555 m, and currently,... 

South African mining, infrastructure project spend 
has dipped below that of North African countries

By: Jonathan Faurie     26th November 2010 Petroleum and gas advisory firm Global Pacific & Partners reports that, although South Africa has the highest level of infrastructure development on the continent, growth projects in Africa amount to a paltry 3,5% of the country’s gross domestic product (GDP), while growth projects in North... 

Beach and Itochu may build A$1bn LNG facility in S Australia

By: Esmarie Iannucci     25th November 2010 Oil and gas company Beach Energy and its Japanese partner Itochu Corporation have identified potential South Australian sites for a A$1-billion liquefied natural gas (LNG) facility. The two companies signed a memorandum of understanding in July to investigate the potential for a joint... 

Ferguson slams PTT and regulator over Montara spill

By: Esmarie Iannucci     24th November 2010 Resources and Energy Minister Martin Ferguson on Wednesday again criticised oil and gas firm PTT Exploration & Production’s (PTTEP’s) actions during the Montara incident in 2009, saying it could have been prevented. Ferguson was commenting on the release of the report of the Montara Commission... 

Beach Energy and Impress announce merger

By: Esmarie Iannucci     22nd November 2010 ASX-listed oil and gas company Beach Energy has agreed to a A$73,1-million merger with fellow-listed Impress Energy to consolidate its Cooper basin assets, in South Australia. Beach would acquire all the issued share capital in Impress for 8,25c a share in cash, valuing Impress at... 

Karoon cancels IPO, cites ‘unfavourable’ market

By: Esmarie Iannucci     19th November 2010 ASX-listed oil and gas company Karoon Gas on Friday called off the $772,5-million initial public offering (IPO) of its South American assets, blaming “unfavourable” market conditions. Karoon said in a statement that recent capital raisings by Brazilian oil and gas companies have not performed to... 

Perth selected to host international LNG conference in 2016

By: Esmarie Iannucci     17th November 2010 Western Australia Premier Colin Barnett on Wednesday announced that Perth had been selected to host the eighteenth International Conference and Exhibition on Liquefied Natural Gas (LNG18), in 2016. Barnett said the conference was expected to attract more than 4 000 delegates and exhibitors and... 

Franco-Nevada gets approaches to help fund M&A 'frenzy'

By: Liezel Hill     12th November 2010 Resources royalty firm Franco-Nevada Corp has received a number of proposals from mining companies offering royalties in return for cash to help with planned merger and acquisition activity, CEO David Harquail said on Friday. The company has not participated in any of these deals yet, but does... 

Australia gives thumbs up for Shell’s floating LNG project

By: Esmarie Iannucci     12th November 2010 Petroleum giant Shell on Friday reported that its Prelude floating liquefied natural gas (FLNG) project, to be located off the northwest coast of Australia, has received its environmental approval from the Australian Minister for Environment Tony Burke. The Prelude project is planned to be the... 

Queensland approves A$35bn LNG project 

By: Esmarie Iannucci     9th November 2010 The Queensland government on Tuesday approved what could be a A$35-billion investment by Australia Pacific Liquefied Natural Gas (APLNG) to develop a coal seam gas (CSG) to LNG project. The approval followed 18-months of environmental assessment, and was the latest in a series of LNG milestones,... 

Shell sells part of Woodside stake for A$3,3bn

By: Esmarie Iannucci     8th November 2010 Petroleum giant Shell announced on Monday that it would sell a 10% stake in Australia’s largest independent oil and gas company, Woodside, for A$3,3-billion. Shell subsidiary, Shell Energy Holdings Australia (SEHAL) would sell 78,34-million shares in ASX-listed Woodside, representing 29,18% of... 

Moore seeks support to oppose new petroleum regulator

By: Esmarie Iannucci     4th November 2010 Western Australia Mines and Petroleum Minister Norman Moore was seeking support from oil and gas companies to oppose federal government plans to introduce a national offshore petroleum regulator. Moore, in a letter to affected companies, explained how the federal government’s plan would strip... 

WorleyParsons awarded QCLNG contract

By: Esmarie Iannucci     2nd November 2010 ASX-listed project house WorleyParsons has been appointed as the detailed engineering and procurement services contractor for the $15-billion Queensland Curtis Liquefied Natural Gas (QCLNG) project, being developed by BG Group. The project house said in a statement on Tuesday that its contract... 

BG Group approves $15bn Queensland LNG project

By: Esmarie Iannucci     1st November 2010 Global natural gas company BG Group will spend $15-billion to develop the Queensland Curtis Liquefied Natural Gas (QCLNG) project over the next four years, it announced over the weekend, after receiving federal and state environmental approvals. The first phase of the liquefaction plant will... 

Woodside buys out project partner in Pluto Central hub

By: Esmarie Iannucci     29th October 2010 ASX-listed Woodside Petroleum would buy the outstanding 50% equity in the Pluto Central hub from project partner Hess Exploration. Woodside said on Friday that it would hold full ownership of the WA-404-P permit, which contains the Martell, Noblige, Larsen and Larsen Deep gas discoveries, as... 

Sherritt adjusted earnings down y-on-y

By: Liezel Hill     27th October 2010 Toronto-based nickel and energy firm Sherritt International reported adjusted net income of C$49,1-million, down from with C$55,9-million last year, after higher metals prices were offset by increased costs. Including an unrealised foreign exchange gain and an impairment charge, Sherritt... 

Karoon plans $772,5m IPO for Brazilian subsidiary

By: Esmarie Iannucci     27th October 2010 ASX-listed oil and gas company Karoon on Wednesday reported that the initial public offering (IPO) of its Brazilian subsidiary, Karoon Petroleo & Gas (Karoon SA), would raise up to $772,5-million when listing on the Brazilian stock exchange. Karoon said in a statement that around 1,03-million... 

Alberta probes more duck landings on Syncrude tailings pond 

By: Liezel Hill     26th October 2010 The government of Alberta is investigating waterfowl landings on a Syncrude Canada tailings pond north of Fort McMurray, the province said on Tuesday. An undetermined number of ducks landed on the Mildred Lake Settling Basin on Monday evening and some are "heavily oiled", the government said. 

Santos to supply gas to GLNG project

By: Esmarie Iannucci     26th October 2010 Oil and gas major Santos was looking to supply 750 PJ of gas over a 15-year period from its Cooper basin joint venture (JV) to the newly approved Gladstone Liquefied Natural Gas (GLNG) project, in Queensland. The gas would be delivered from Santos’ eastern Australian gas portfolio, with existing... 

Queensland approves gas projects worth A$30bn

By: Esmarie Iannucci     22nd October 2010 The Australian government on Friday approved two coal seam gas projects at Gladstone, in Queensland, with an estimated combined value of around A$30-billion. However, more than 300 conditions have been imposed on the two projects, being developed separately by Santos and the Queensland Gas... 

Lignite gasification 
increases costs of 

By: Schalk Burger     22nd October 2010 Low-grade coals can be gasified to produce synthesis gas (syngas) but gasification contributes about 40% to 50% of the overall costs of a synthetic fuels (synfuels) plant, says Chinese and South African joint venture coal-to-liquids (CTL) company Clean Coal Technology South Africa (CCTSA) chief... 

Mines to supply CTL coal feedstock 

22nd October 2010 The Thubelisha and Impumelelo coal mines, in Mpumalanga province, will supply petrochemicals giant Sasol’s coal-to-liquids (CTL) operations, in Secunda, and will replace the depleting coal mines used by mining affiliate company Sasol Mining, the company reports. 

Ningxia CTL plant proposal to be considered in last quarter of 2010

22nd October 2010 Engineering consultancy Chinese International Engineering Consultative Company’s recommendations on the proposed coal-to-liquids (CTL) plant to be built in the Ningxia Hui Autonomus region is expected to go before the Chinese National Energy Administration in the last quarter of 2010, says Sasol... 

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