R/€ = 19.81 Change: -0.06
R/$ = 18.27 Change: -0.08
Au 1651.17 $/oz Change: 0.87
Pt 732.60 $/oz Change: -8.72


Resources a key part to recovery - Minister

By: Esmarie Iannucci     1st April 2020 Federal Resources Minister Keith Pitt said that the federal and state and territory governments were working to ensure that critical resources projects kept operating during the Covid-19 pandemic. “The Australian resources sector is a key part of the Australian economy. The commodities... 

Vedanta CEO Venkatakrishnan resigns

By: Reuters     27th March 2020 Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm. Sunil Duggal, current head of Vedanta unit Hindustan Zinc, will take over as interim CEO. Venkatakrishnan, who was previously CEO of South African... 

Woodside cuts 900 staff - AWU

By: Esmarie Iannucci     24th March 2020 The Australian Worker’s Union (AWU) has lashed out at oil and gas major Woodside, claiming that it had stood down 500 of its workers both at the Karratha gas plant and at the Pluto liquefied natural gas (LNG) project “without a word of explanation or a dollar of compensation”. The AWU said that... 

Oil and gas producers in for tough times - Woodmac

By: Esmarie Iannucci     23rd March 2020 The upstream oil and gas sector was facing unprecedented uncertainty with the massive fall in the oil price and the uncertain market environment brought on by Covid-19, industry analyst Wood Mackenzie (Woodmac) has reported. In a research note, Woodmac noted that the upstream oil and gas sector’s... 

Oil falls deeper into turmoil triggered by epic demand collapse

By: Bloomberg     16th March 2020 Oil’s spectacular collapse deepened as widening global efforts to fight the spread of coronavirus were set to trigger the most severe contraction in annual oil demand in history. Futures tumbled by more than 6% after plunging by a quarter last week -- the largest drop since 2008. Even a massive... 

Germany moves into hydrogen with lessons from Opec, Russia 

By: Bloomberg     3rd March 2020 Germany is taking its first steps to build an economy based on hydrogen instead of fossil fuels, seeking to deliver both green growth and to avoid being trapped by a small cartel of suppliers. Ministers have been quietly lining up deals with nations including Nigeria that might produce hydrogen... 

Trudeau to seek industry, indigenous input to define climate plan

By: Reuters     2nd March 2020 Canadian Prime Minister Justin Trudeau, in his first major climate change speech this year, will reach out on Monday to businesses, indigenous groups and citizens for help in defining his ambitious plan to cut carbon emissions, a senior government official said. During his campaign for... 

MMEC 2020 expects to attract more than 1000 participants

21st February 2020 The 7th Mozambique Mining, Oil & Gas and Energy Conference & Exhibition is taking place at the prestigious Joaquim Chissano Conference Center, in Maputo. The two-day event is happening from 22 to 23 April and takes place under the theme "Use of Natural Resources as a catalyst for Development and... 

Arbitrator backs Woodside in Senegal tussle

By: Esmarie Iannucci     14th February 2020 The International Arbitration Court has backed oil and gas major Woodside in a dispute with fellow listed FAR. Woodside and FAR are joint venture (JV) partners in the Sangomar field development, offshore Senegal.  

Woodside suffers under Kitimat impairment

By: Esmarie Iannucci     13th February 2020 Oil and gas major Woodside Energy has seen a significant drop in its full year net profits after tax after recording a $720-million non-cash impairment for the Kitimat liquefied natural gas (LNG) asset, in Canada. The ASX-listed major on Thursday told shareholders that the net profit after tax... 

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