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Qteq faces cartel charges

By: Esmarie Iannucci     9th December 2022 The Australian Competition and Consumer Commission (ACCC) has filed civil cartel proceedings in the Federal Court against mining equipment and technology services company Qteq and its executive chairperson Simon Ashton. The ACCC alleges that on seven instances between 2017 and 2019, Qteq... 

Mteto Nyati takes 40% stake in Business Systems Group

By: Natasha Odendaal     9th December 2022 Former Altron CEO and prominent businessperson Mteto Nyati has invested in South African business and technology consulting firm Business Systems Group (BSG), taking a significant 40% ownership, with plans to work closely with the executive team to scale BSG’s impact and value and grow its market... 

Nopsema weighing Barossa appeal fall-out

By: Esmarie Iannucci     7th December 2022 Australian Resources Minister Madeleine King will direct the National Offshore Petroleum Safety and Environmental Management Authority (Nopsema) to provide improved guidance to the oil and gas industry on consultation requirements following the Federal Court judgment in relation to the Barossa... 

Santos vows more returns to shareholders

By: Esmarie Iannucci     7th December 2022 Oil and gas major Santos on Wednesday announced a simplified capital management framework which would see a minimum of at least 40% of annual free cash flow returned to shareholders. The company said in a statement that the revised capital framework seeks to maintain an appropriate capital... 

BP doubles down on hydrogen as fuel of the future

By: Reuters     5th December 2022 BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonise. Low-carbon hydrogen already has a big fan-base and is forecast to play a major role in reducing greenhouse gas... 

Woodside targets FID in Mexico next year

By: Esmarie Iannucci     2nd December 2022 Oil and gas major Woodside is working towards an investment decision at Trion, in the Gulf of Mexico, in 2023. Woodside noted during an investor briefing this week that the Trion project contains a resource of some 500-million barrels of 2C contingent resource, with Woodside planning a... 

Santos loses Barrossa appeal

By: Esmarie Iannucci     2nd December 2022 Oil and gas giant Santos has lost its appeal in the Full Federal Court against a September decision by the Federal Court to set aside the acceptance by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) of an environmental plan covering the drilling and... 

Orica

2nd December 2022 Orica is the world’s largest provider of commercial explosives and innovative blasting systems to the mining, quarrying, oil and gas and construction markets, a leading supplier of sodium cyanide for gold extraction, and a specialist provider of ground support services in mining and tunnelling.... 

Talon raises cash as it takes stake in Mongolian project

By: Esmarie Iannucci     1st December 2022 Oil and gas explorer Talon Energy will raise A$12-million in a share placement and will acquire a 33% participating interest in a production sharing agreement over the Gurvantes coal seam gas project, in Mongolia. The ASX-listed Talon on Thursday announced that it would place some 85.7-million... 

Barclays coal plan exposes reach of Biden’s Inflation Reduction Act

By: Bloomberg     1st December 2022 The Inflation Reduction Act (IRA) is starting to change the way bankers view their climate targets. Barclays, one of Europe’s biggest coal financiers, said its analysis of the IRA has led it to commit to wind down its funding for coal in the US five years earlier than planned. CEO CS... 

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