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Oil and Gas News

Taliban's return clouds long-delayed plans for Afghanistan's resources

By: Reuters     19th August 2021 China is warily eyeing the resumption of some Afghan resource projects but it will take years before the infrastructure is ready while security issues threaten to once again stall projects, according to state media and industry sources. Afghanistan's vast mineral wealth - including large reserves... 

Senex doubles revenue in 2021

By: Esmarie Iannucci     19th August 2021 Oil and gas producer Senex Energy has reported a 103% increase in sales revenue for the 2021 financial year, as production increased by 140%. The ASX-listed company on Thursday reported that natural gas production for the full year reached 17.3 PJ, with revenues growing to A$109.6-million.... 

Trump-approved ConocoPhillips Alaska project voided by judge 

By: Bloomberg     19th August 2021 The Trump administration’s approval of a ConocoPhillips oil field project on Alaska’s Northern Slope was rescinded by a federal judge who said it failed to adequately protect polar bears and didn’t properly consider the effects on climate change. Federal officials also failed to properly... 

Minister blasts green protestors

By: Esmarie Iannucci     19th August 2021 Federal Resources and Water Minister Keith Pitt has slammed attempts by activists to disrupt gas exploration to the west of King Island, after some protesters attached themselves to a seismic vessel. This was the third day of protests against the planned seismic activity by major ConocoPhillips... 

Woodside buys BHP's petroleum division

By: Esmarie Iannucci     17th August 2021 Diversified miner BHP and oil and gas producer Woodside has struck a merger agreement to combine their respective oil and gas portfolios through a stock merger. It is proposed that BHP’s oil and gas business would merge with Woodside, and Woodside would issue new shares to be distributed to BHP... 

Image shows a handshake

Biden to resume oil, gas drilling-rights sales as appeal unfolds

By: Bloomberg     17th August 2021 The Biden administration is appealing a federal judge’s ruling against its moratorium on the sale of new drilling rights and expanding its scrutiny of the activity. “Federal onshore and offshore oil and gas leasing will continue as required by the district court while the government’s appeal is... 

Senex approves Atlas expansion, Roma North next

By: Esmarie Iannucci     17th August 2021 ASX-listed Senex Energy has approved the A$40-million investment into the expansion of natural gas production at its Atlas operation, in Queensland, by 50%. The company on Tuesday announced that production would be increased from the current output of 12 PJ/y to 18 PJ/y. 

Santos reports record half

By: Esmarie Iannucci     17th August 2021 Oil and gas major Santos has reported a 23% increase in production volumes for the half-year ended June, compared with the same period in 2020, while sales volumes in the same period increased by 15%. Production in the first half of 2021 reached a record 47.3-million barrels of oil equivalent,... 

Gas supply shortfall 'increasingly likely' - ACCC

By: Esmarie Iannucci     17th August 2021 The Australian Competition and Consumer Commission (ACCC) has warned that a supply shortfall in Australia’s east coast gas market was increasingly likely. In its latest gas report, the ACCC revealed that a shortfall of 2 PJ could arise across the entire east coast gas market next year, driven by... 

Image shows an LNG export vessel

Sasol’s new 2030 and 2050 decarbonisation targets to be ‘substantially higher’ 

By: Terence Creamer     16th August 2021 South Africa’s carbon-heavy fuels and chemicals group Sasol is poised to announce a “substantially higher” target for the reduction of its greenhouse-gas emissions following an intensive period of financial and organisational restructuring during its 2021 financial year. The JSE-listed group took... 

Photo of Sasol CEO Fleetwood Grobler
Photo by Creamer Media's Donna Slater
Sasol CEO Fleetwood Grobler

Beach production and profits fall

By: Esmarie Iannucci     16th August 2021 Oil and gas producer Beach Energy has seen production and net profits fall for the 2021 financial year. Beach told shareholders that production in the full year reached 25.6-million, down 4% from the 26.7-million barrels of oil equivalent delivered in the 2020 financial year, primarily due to... 

Woodside and BHP confirm petroleum talks

By: Esmarie Iannucci     16th August 2021 BHP has confirmed speculation that it is in talks with oil and gas producer Woodside over its petroleum business. Reports emerged on Monday that Woodside was in advanced talks with BHP about purchasing the diversified miner's petroleum division for A$20-billion. A report by the Australian... 

Image shows BHP's logo on the side of an office building

Australian miners accelerate green investment amid net-zero flurry

By: Esmarie Iannucci     13th August 2021 With the rise of environmental activism and greater investor interest in environmental and social governance, Australian miners and the Australian government have started to give greater priority to emission reduction schemes and environmental investments. The federal government in 2020... 

Image of Engineering News and Mining Weekly cover

Shell to pay $110m to end 30-year Nigeria oil spill case

By: Bloomberg     12th August 2021 Royal Dutch Shell’s Nigerian unit agreed to pay a community in the West African country more than $110-million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. The Anglo-Dutch energy giant will pay the Ejama-Ebubu people 45.7-billion naira ($110.9-million)... 

Now climate activists want BHP to keep hold of its fossil fuels

By: Bloomberg     11th August 2021 BHP Group, the world’s top miner, should abandon plans for multi-billion dollar sales of fossil fuels assets and instead responsibly close down the operations, according to an environmental campaign group. A proposal tabled on behalf of about 100 small investors by Market Forces, which... 

Now climate activists want BHP to keep hold of its fossil fuels

Scarborough gets enviro approval

11th August 2021 Oil and gas major Woodside has been granted environmental approval for its Scarborough development, in Western Australia. The company on Wednesday said on Wednesday that following an assessment by the state’s Environmental Protection Authority, Minister for Environment Amber-Jade Sanderson... 

Victoria calls for input on gas restart

By: Esmarie Iannucci     11th August 2021 The Victorian government has called for public input on the restart of the onshore gas industry. The onshore conventional gas restart follows three years of detailed scientific investigations by the Victorian Gas Program, overseen by the independent Stakeholder Advisory Panel chaired by... 

BHP invests heavily in Gulf of Mexico petroleum

By: Esmarie Iannucci     6th August 2021 Diversified major BHP on Friday approved a $544-million capital investment into its Shenzi North oil project in the US Gulf of Mexico. Shenzi North represents the first development phase of Greater Wildling, following exploration success in 2017, with the resource and development plan further... 

An image of an oil rig operating in the US Gulf of Mexico

Woodside flags cost increase at Scarborough

By: Esmarie Iannucci     4th August 2021 Oil and gas major Woodside has flagged a 5% increase in the capital cost estimate for its Scarborough development, ahead of a final investment decision (FID) later this year. The company on Wednesday said that the project would cost an estimated $12-billion to develop, comprising a $5.7-billion... 

Image shows Woodside's Pluto LNG plant

Coal-reliant South Africa is turning to gas power

By: Bloomberg     3rd August 2021 Power failures have become routine in South Africa. At the same time, the country wants to wean itself off the coal that generates more than 80% of its electricity and makes it the world’s ­twelfth‑biggest source of greenhouse gases. Most of South Africa’s power stations are near the end of their... 

Comet Ridge makes A$20m play at Mahalo

By: Esmarie Iannucci     3rd August 2021 ASX-listed Comet Ridge has struck an agreement with its joint venture (JV) partner Australia Pacific Liquefied Natural Gas (APLNG) to acquire its 30% interest in the Mahalo gas project, taking its own interest from 40% to 70%. The company would pay A$12-million in cash to APLNG on the completion... 

Other procurement plans not affected by RMIPPPP deadline delay to end Sept – DMRE  

By: Terence Creamer     2nd August 2021 The deadline for projects selected as preferred bids under the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) to reach commercial close has been extended to September 30, from an initial deadline of the end of July. However, the Department of Mineral Resources and... 

Photo of Minister Gwede Mantashe
Photo by Creamer Media Chief Photographer Donna Slater
Minister Gwede Mantashe announced the initial end-July commercial-close deadline on March 18

Southern Africa part of Germany’s platinum-boosting green hydrogen strategy  

By: Martin Creamer     2nd August 2021 Green hydrogen, which can be generated and then used with the help of Southern Africa’s platinum group metals (PGMs), is a topic that has gained a lot of importance in recent months in the context of limiting global warming and meeting the world’s decarbonisation goals. In Germany, the increased... 

Picture of Dr Jan Olwoch moderating green hydrogen atlas event.
Green Hydrogen Atlas Africa data validation workshop covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

From miners to big oil, the great commodity cash machine is back

By: Bloomberg     2nd August 2021 Just over five years ago Anglo American was in deep trouble. The natural resources giant, beset by a collapse in commodity prices, scrapped its dividend and announced plans to close mines and cut thousands of workers. Amid talk of an emergency capital raise, its market value fell to less than... 

An image of Shell CEO Ben van Beurden
Shell CEO Ben van Beurden

Santos and Oil Search merger to create A$21bn oil and gas giant

By: Esmarie Iannucci     2nd August 2021 Oil and gas producers Santos and Oil Search announced a merger to create a A$21-billion oil and gas giant. Santos in July this year failed in an initial merger effort with Oil Search, after the takeover target rejected an earlier non-binding indicative all-scrip merger proposal under which Oil... 

An image of an office building displaying Santos signage.

Origin warns of impairment on electricity prices

By: Esmarie Iannucci     30th July 2021 ASX-listed Origin Energy has warned of a A$1.5-billion post tax impairment charge in the 2021 financial year, relating to its Energy Markets division and its generation assets. Furthermore, tax expenses of A$669-million will be reported relating to a deferred tax liability, reflecting the... 

Suncor cuts Fort Hills oil output guidance amid mine instability

By: Bloomberg     29th July 2021 Suncor Energy cut its full-year production guidance at its Fort Hills oil sands mine to between 45 000 bbl/d and 55 000 bbl/d from a previous 65 000 bbl/d to 85 000 bbl/d because of additional required work on the mine. Instability on the south side of the mine requires so-called overburden... 

Suncor cuts Fort Hills oil output guidance amid mine instability

Bayu-Undan beats expectations - Santos

By: Esmarie Iannucci     28th July 2021 Oil and gas major Santos on Wednesday reported that production from the Phase 3C infill drilling programme at the Bayu-Undan field had begun with the first well producing better than expected. The first well has been brought online at 178-million standard cubic feet per day of gas and 11 350... 

Oil Search on track for full year targets

By: Esmarie Iannucci     27th July 2021 ASX-listed Oil Search on Tuesday said that it was on track to achieve its full year production guidance, despite a decrease in production for the second quarter. Total production for the quarter was down to 6.58-million barrels of oil equivalent, from the 6.86-million barrels of oil equivalent... 

Anglo Platinum evaluating multiple renewable energy forms  

By: Martin Creamer     26th July 2021 As a result its geographic distribution across South Africa, the Anglo American group is collectively evaluating options to access multiple forms of renewable energy, Anglo American Platinum (Amplats) CEO Natascha Viljoen said on Monday. The JSE-listed company has already completed the design and... 

A side view of the Amplats CEO during the July 2021 results presenetation.
Anglo American Platinum presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Santos reports first oil from Van Gogh Phase 2

By: Esmarie Iannucci     26th July 2021 Oil and gas major Santos on Monday announced first oil from the Van Gogh Phase 2 infill development, with the first of three new production wells producing at the highest initial rate from an individual well in field history. Following completion and tie-in, the first well has produced at a peak... 

Japan shifting away from fossil fuels

By: Esmarie Iannucci     22nd July 2021 Australia’s supply of liquefied natural gas (LNG) and coal into Japan could face pressure as the Asian major introduced a draft Strategic Energy Plan, which sees non-fossil fuel power supply sources growing from 24% in 2019-20, to roughly 60% by 2030-31. Analyst S&P Global noted that the draft... 

Senex inks another offtake agreement

By: Esmarie Iannucci     22nd July 2021 ASX-listed Senex Energy has struck a long-term domestic gas sales agreement with fellow-listed construction materials and industrial minerals manufacturer Adbri. Under the terms of the agreement, Senex would supply up to 11 PJ of natural gas to support Adbri’s South Australian manufacturing... 

Santos posts record revenues

By: Esmarie Iannucci     22nd July 2021 Oil and gas major Santos has reported record sales revenue of $1.07-billion for the second quarter ended June, on the back of improved commodity prices and a strong operational performance. Production in the three months to June reached 22.5-million barrels of oil equivalent, down 9% on the... 

NSW gas plan blasted

By: Esmarie Iannucci     21st July 2021 The Australian Petroleum Production and Exploration Association (Appea) has warned that the New South Wales government’s Future of Gas Statement would effectively lock up most of the state from gas development, costing jobs and the economy. Deputy Premier John Barilaro unveiled the Future of Gas... 

Image shows an LNG production plant

Woodside takes part in Aus/Japan ammonia study

By: Esmarie Iannucci     21st July 2021 A joint feasibility study will be conducted into the development of a clean fuel ammonia supply chain from Australia to Japan. Australian energy major Woodside, along with Japan Oil, Gas and Metals National Corporation, Marubeni Corporation, Hokuriku Electric Power Company and the Kansai... 

BHP is said to mull oil exit as miner retreats from fossil fuels

By: Bloomberg     20th July 2021 BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter. The world’s biggest miner is reviewing its petroleum business and considering options including a trade sale, said... 

An image showing an oil rig at night

Senex reaches production plateau

By: Esmarie Iannucci     20th July 2021 ASX-listed Senex Energy has achieved its initial production plateau during the quarter ended June, with an annualised run rate of around 19 PJ/y. The company on Tuesday reported that production during the June quarter reached 4.7 PJ, which was in line with the 4.6 PJ produced in the previous... 

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