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Pt 1009.99 $/oz Change: 0.53
 

Oil and Gas News

Goldman doesn't see big disruption to energy flows over Ukraine

By: Bloomberg     26th January 2022 Oil and gas flows aren’t likely to be significantly impacted from the tensions building in Ukraine, according to Goldman Sachs Group. The bank’s base case is “no disruption,” Jeff Currie, Goldman’s global head of commodities research, said in a Bloomberg TV interview with Shery Ahn and Paul... 

McKinsey pegs the price tag of a livable climate at $9.2tr a year

By: Bloomberg     25th January 2022 A new analysis from McKinsey & Co. estimates that the investment, in new infrastructure and systems, needed to meet international climate goals could be $9.2-trillion a year through 2050. That’s at least $3.5-trillion more a year than the world is currently laying out for both low-carbon and... 

Natural gas, electricity price volatility and inflation the result of natural gas crisis

By: Schalk Burger     24th January 2022 Natural gas and electricity prices have spiked to record highs, most notably in Europe and some major Asian markets, causing potentially significant economic impacts and volatility in gas and electricity markets, driven by turmoil in natural gas markets, says intergovernmental organisation... 

IEA executive director Dr Fatih Birol
Photo by Bloomberg
IEA executive director Dr Fatih Birol

Santos sets records as Oil Search merger pinacles  

By: Esmarie Iannucci     20th January 2022 ASX-listed Santos has reported record annual production, record sales revenue and record free cash flows for the year ended December, on the back of a strong December quarter. Santos MD and CEO Kevin Gallagher said Santos delivered record annual production and sales revenue in 2021, as strong... 

Image shows Santos operation at nightfall

Woodside sales spike, along with revenue

By: Esmarie Iannucci     20th January 2022 Oil and gas producer Woodside Energy has reported an 86% increase in sales revenue during the fourth quarter ended December, compared with the previous quarter, with revenues reaching A$2.85-billion. The ASX-listed company said that the average realised price increased by 53% in the same period,... 

Woodside inks LNG HoA in the US

By: Esmarie Iannucci     19th January 2022 Oil and gas producer Woodside Energy has struck a heads of agreement (HoA) with US based Commonwealth LNG for the potential supply of liquefied natural gas (LNG from the proposed Commonwealth LNG development in Louisiana. The HaA contemplates the purchase of 2-million tonnes a year of LNG over a... 

BHP adjusts copper and coal expectations

By: Esmarie Iannucci     19th January 2022 Diversified major BHP has adjusted its full year outlook for metallurgical coal and copper productions as tough conditions continued. The miner on Wednesday reported that full year copper production was trending towards the low end of the guidance range of between 1.59-million and 1.76-million... 

BHP CEO Mike Henry
BHP CEO Mike Henry

Woodside settles Pluto Train 2 sale

By: Esmarie Iannucci     18th January 2022 ASX-listed Woodside Energy has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture (JV) to specialist infrastructure investor, Global Infrastructure Partners (GIP). Woodside in November entered into a sale and purchase agreement with GIP. 

Alberta prioritises oil sands' carbon storage hub, Energy Minister says

By: Reuters     17th January 2022 The government of Alberta, Canada's main oil-producing province, plans to move forward "very, very quickly" on its next carbon sequestration hub in the Cold Lake region that will serve oil sands producers, Energy Minister Sonya Savage told Reuters. Alberta is currently accepting requests for... 

Senex completes APLNG buy

By: Esmarie Iannucci     17th January 2022 Oil and gas major Senex has finalised the acquisition of two undeveloped gas fields from the Australia Pacific Liquefied Natural Gas (APLNG) project owners. The gas fields are adjacent to Senex’s Atlas field. 

IEA says Canada can be key global oil supplier if emissions promises kept

By: Reuters     14th January 2022 Canada, the world's fourth-largest oil producer, can be a key global supplier for years to come providing it sticks to promises to sharply cut emissions, the International Energy Agency (IEA) said on Thursday. In its first review of Canada's energy policies since 2015, the IEA said the country's... 

QRC welcomes Bowen basin pipeline plans

By: Esmarie Iannucci     13th January 2022 The Queensland Resources Council (QRC) has welcomed the state government’s proposal to investigated potential gas pipeline pathways and optimisation of the Bowen Basin’s gas reserves to support the East Coast gas market for export and domestic use. The state government last week announced a... 

Deepwater oil targeted by Argentine activists who quashed mining

By: Bloomberg     12th January 2022 Environmental activists in Argentina are trying to prevent new oil exploration in the resource-rich South American nation just days after forcing a governor in Patagonia to reverse course on silver mining. The government has been lobbying the case for drillers to search for oil in the Atlantic... 

Goldman bullish on commodities, seeing years-long supercycle

By: Bloomberg     7th January 2022 Goldman Sachs Group is “extremely bullish” on commodities, amid a supercycle that has the potential to last for a decade, according to Jeff Currie, the bank’s global head of commodities research. The new year has started against a backdrop that includes record dislocations in energy, metals and... 

US to become largest LNG exporter, China largest importer in 2022 – IHS Markit

By: Schalk Burger     6th January 2022 The US will become the world's top exporter and China the top importer of liquefied natural gas (LNG) in 2022, says NYSE-listed market research and analysis company IHS Markit in its 'LNG Trade in 2021: Runaway Recovery'  report. The report finds that the US, which was the third-largest LNG... 

Bowen Basin gas pipeline on the cards

By: Esmarie Iannucci     6th January 2022 The Queensland government on Thursday released the Bowen Basin Pipeline concept study, which investigated potential gas pipeline pathways and optimisation of the Bowen Basin’s gas reserves to support the East Coast gas market for export and domestic use. The study also investigated opportunities... 

Australian exports flourish as project pipeline grows

By: Esmarie Iannucci     4th January 2022 Australia’s resource and energy export earnings are forecast to reach A$379-billion in 2021–22 as demand for coal and gas surges in the face of a global energy shortage, the December edition of the Resources and Energy Quarterly (REQ) found. The 2021-22 prediction was up from the A$310-billion... 

Woodside studies hydrogen links with Singapore and Japan

By: Esmarie Iannucci     4th January 2022 Oil and gas major Woodside in December announced a collaboration with a number of partners to study the feasibility of a long-term, stable supply chain of sustainable Liquid Hydrogen (LH2) from Western Australia to Singapore and potentially Japan. The company inked a memorandum of understanding... 

Federal Court backs Betaloo developments

By: Esmarie Iannucci     4th January 2022 The Australian Federal Court in late December rejected a legal challenge that would have jeopardised a major resources project in the Northern Territory. The Environment Centre of the Northern Territory lodged an application to the Federal Court on July 28 to have the Beetaloo coopeative... 

Fitch Solutions lowers gas spot price forecast

By: Marleny Arnoldi     3rd January 2022 Fitch Solutions lowers gas spot price forecast Research agency Fitch Solutions has lowered its natural gas spot price forecast from $3.90/million British Thermal Unit (MBTU) to $3.70/MBTU, following a sharper than expected decline in prices in the fourth quarter of 2021. 

US lawmaker introduces bill to eliminate carbon credits for oil recovery

By: Reuters     14th December 2021 California lawmaker Ro Khanna introduced a bill into the US House of Representatives on Monday that would prevent investors from securing carbon capture and sequestration tax credits if the carbon is used to boost oil production. The bill has little chance of being adopted into law, but reflects... 

Woodside taps new CFO

By: Esmarie Iannucci     14th December 2021 Oil and gas major Woodside has appointed Graham Tiver as CFO and executive VP, following the resignation of Sherry Duhe, who joined gold miner Newcrest Mining. Joining Woodside from diversified miner BHP, Tiver previously held the role of group financial controller with responsibility for BHP’s... 

Senex and POSCO strike a deal

By: Esmarie Iannucci     13th December 2021 ASX-listed Senex Energy has entered into a binding scheme implementation agreement (SIA) with Korean suitor POSCO International Corporation, under which POSCO was offering A$4.60 a share for each Senex share held. The Senex board has unanimously recommended that shareholders vote in favour of... 

Santos appoints new CFO post merger

By: Esmarie Iannucci     13th December 2021 Oil and gas major Santos has announced the appointment of Anthea McKinnell as CFO from January 1, replacing Anthony Neilson who has held the role since December 2016. Neilson will stay with the company as chief commercial officer initially based in Sydney, where he will play a key role in... 

Commodity prices to edge lower in 2022 – Fitch Solutions

By: Marleny Arnoldi     10th December 2021 Research agency Fitch Solutions Country Risk & Industry Research expects commodity prices to ease in 2022, from current levels, and forecasts that most commodity prices will average lower year-on-year. This is on the back of improving supply and slowing demand; however, commodity prices will... 

Santos and Oil Search merger become effective

By: Esmarie Iannucci     10th December 2021 The merger between ASX-listed Santos and fellow listed Oil Search became effective on Friday, following shareholder and court approvals. Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of December 14. The company’s shares would... 

Woodside reveals 2020 taxes

By: Esmarie Iannucci     10th December 2021 Energy producer Woodside Energy on Friday revealed Australian corporate income tax of A$454-million from a combined income of A$3.1-billion in the 2020 financial year, for its three corporate entities. In 2020, Woodside paid A$473-million in Australian corporate income tax and a further... 

'Special apartheid': Mantashe accuses anti-Shell lobby of 'oppressing' development  

By: News24Wire      9th December 2021 Mineral Resources and Energy Minister Gwede Mantashe has condemned "unrelenting attacks" on oil and gas development in South Africa, which appear designed to thwart economic growth and deepen unemployment in the country. "Africa deserves an equal chance to develop its economies on the strength of... 

Mineral Resources and Energy Minister Gwede Mantashe
Mineral Resources and Energy Minister Gwede Mantashe

Leading mining companies commit to contract transparency 

By: Martin Creamer     9th December 2021 Members of the International Council on Mining and Metals (ICMM) on Thursday announced their commitment to disclose all mineral development contracts from the start of January this year, wherever they operate, marking a significant step by about a third of the global mining and metals industry to... 

Picture supplied.
ICMM CEO Rohitesh Dhawan

PNG Court approves Santos/Oil Search deal

By: Esmarie Iannucci     9th December 2021 The Papua New Guinea (PNG) National Court has approved the merger between ASX-listed Santos and fellow listed Oil Search. Oil Search on Thursday told shareholders that the company would lodge a certified copy of the orders with the PNG Registrar of Companies on December 10, at which time the... 

ConocoPhillips halts $2.12bn APLNG deal

By: Esmarie Iannucci     9th December 2021 Energy major ConocoPhillips has exercised its pre-emptive rights in relation to ASX-listed Origin’s sale of a 10% interest in the Australia Pacific liquefied natural gas (LNG) project. Origin in October announced struck a $2.12-billion agreement with global energy investor EIG to sell a 10%... 

Image shows an LNG container at the APLNG docks

Santos puts ink to paper on Barossa deal

By: Esmarie Iannucci     9th December 2021 Oil and gas major Santos this week signed a binding sale and purchase agreement (SPA) to sell a 12.5% interest in the Barossa project to an Australian subsidiary of project partner JERA. The two companies last year inked a letter of intent that would allow JERA add to its portfolio. 

Woodside to team up with Viva in Geelong

By: Esmarie Iannucci     9th December 2021 Oil and gas major Woodside has entered into a memorandum of understanding (MoU) with energy company Viva Energy to progress discussions on capacity rights at Viva Energy’s proposed liquefied natural gas (LNG) regasification terminal in Geelong, Victoria. Woodside said on Thursday that the MoU... 

Platinum demand from electrolysers likely to be between one- and two-million ounces over next 15 years

By: Simone Liedtke     8th December 2021 Electrolyser markets could grow from almost nothing today to one quarter of 1 TW by 2030, and over 3 TW by 2050, to meet the demand for fossil-fuel free green hydrogen, according to a recent Hydrogen Council report by the World Platinum Investment Council (WPIC). The electrolysis of water is a... 

Pic of electrolyser stacks

Top US shale producer worries oil prices could run too hot

By: Reuters     8th December 2021 Scott Sheffield, the chief executive of top US shale producer Pioneer Natural Resources, on Tuesday said he worries oil prices could get too high and further roil markets after years underinvestment in the sector. “I’m worried that it may get too high, above $100 (per barrel)," Sheffield said in... 

Santos/Oil Search deal clears another hurdle

By: Esmarie Iannucci     8th December 2021 The Independent Consumer and Competition Commission (ICCC) of Papua New Guinea (PNG) has approved the merger between oil produces Santos and Oil Search. The ICCC approval follows a day after Oil Search shareholders approved the merger with ASX-listed Santos, which will create a A$21-billion oil... 

Natural gas essential for net zero - report

By: Esmarie Iannucci     8th December 2021 A report commissioned by the Australian Gas Industry Trust (AGIT) has confirmed that natural gas would have a significant role to play in a cleaner energy economy as Australia moved towards a net-zero future. The report, undertaken by Frontier Economics, reinforced the value of flexible and... 

Woodside sets $5bn budget for new energy projects

By: Esmarie Iannucci     8th December 2021 Oil and gas major Woodside on Wednesday announced that it would invest some $5-billion in emerging new energy markets by 2030. Speaking to investors, CEO Meg O’Neill said liquefied natural gas (LNG) will remain an important part of the energy mix in the region for decades to come, both as a... 

Image shows the parts of the Pluto LNG plant
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