Business and Finance

  • bp and NYK Line to collaborate on solutions to help decarbonise shipping sector

    PROJECTS

    bp and NYK Line to collaborate on solutions to help decarbonise shipping sector

    bp and Japanese shipping company NYK Line have signed a memorandum of understanding (MoU) to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.... more

  • Empowering and advocating for culturally diverse women in the workplace

    PROJECTS

    Empowering and advocating for culturally diverse women in the workplace

    A new executive program targeting women from culturally and linguistically diverse (CALD) backgrounds, is aiming to break down barriers and address inequalities experienced by women in the workplace. Monash ... more

  • PROJECTS

    IOG inks gas sales agreement with GM&T

    IOG plc has announced the execution of a gas sales agreement (GSA) with Gazprom Marketing & Trading Limited (GM&T). The news follows a competitive offtake process involving more than 10 bidders over rec... more

  • Senex and Adbri sign new long-term gas sales agreement

    PROJECTS

    Senex and Adbri sign new long-term gas sales agreement

    Senex Energy Limited (Senex) has announced a long-term domestic gas sales agreement with Adbri Limited (Adbri) to supply up to 11 petajoules (PJ) of natural gas to support Adbri’s South Australian manufacturi... more

  • bp and NYK Line to collaborate on solutions to help decarbonise shipping sector
  • Empowering and advocating for culturally diverse women in the workplace
  • IOG inks gas sales agreement with GM&T
  • Senex and Adbri sign new long-term gas sales agreement

Cheniere Energy’s Q1 earnings show promising growth in LNG sector

Cheniere Energy, an international energy company headquartered in Houston, Texas, is off to a strong start in 2021 as the company had Q1 earnings of US$1.54 per share and generated revenue of US$3.09 billion. After four tough quarters, strong LNG demand has provided a boost for Cheniere and the company has managed to exceed expectations, says GlobalData. Upstream Oil & Gas Analyst at GlobalData, Steven Ho, said that Cheniere has been struggling to meet expectations for the past few quarters and needed the result this quarter to prove that its LNG business has long term resilience, as LNG demand is…

Chevron should remain cautious in capital spending as it returns to profitability in Q1 2021

Chevron posted a profit of US$1.4 billion in Q1 2021, which is still down from pre-pandemic levels a year ago of US$3.6 billion, despite the recovery in energy prices. The difference is mainly driven by benefits of asset sale last year, along with weaker refining margins and production losses in this quarter due to a severe winter storm in the US. The company is right in holding back in capital spending to boost production as its current priority remains in creating a strong balance sheet and generating free cash flow, says data and analytics company, GlobalData. Upstream Oil & Gas…

Santos and Eni sign MOU to collaborate in northern Australia and Timor-Leste

Santos and Eni have signed a Memorandum of Understanding (MOU) to cooperate on opportunities in northern Australia and Timor-Leste. The areas of cooperation include assessing the synergies of sharing possible infrastructures associated with gas field developments around Barossa and Evans Shoal, pipeline to Darwin and onshore associated gas processing leading to LNG expansion developments. This also includes investigating options to re-purpose the Bayu-Undan facilities to extend the life of the project, including a carbon capture and storage project, subject to the agreement of the Timor-Leste government. Santos’ Managing Director and Chief Executive Officer, Kevin Gallagher, said that the MOU built…

Neptune Energy acquires interest in Pegasus West discovery

Neptune Energy has acquired a 38.75 per cent equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage (P1724, P1727, P4257 and P2128) in the UK Southern North Sea. Pegasus West was discovered in 2014 and is currently operated by Spirit Energy. Neptune said that its entry into the Pegasus West Area aligns with the company’s interests in both the discovery and the Neptune-operated Cygnus gas facility (Neptune Energy 38.75 per cent and operator, Spirit Energy 61.25 per cent), and would enable the acceleration of the development of Pegasus West as a subsea tieback to the existing…

Vår Energi AS awards inspection services contract

Independent exploration and production company, Vår Energi, has awarded a three-year inspection services contract to a strategic partnership between DNV and Vinde Tilkomstteknikk. The contract will cover inspection services to VE’s full portfolio of assets on the Norwegian Continental Shelf. DNV, the independent energy expert and assurance provider, will be primarily responsible for conducting inspection services to Vår Energi’s assets in the Goliat field in the Barents Sea. Vinde Tilkomstteknikk, the specialist contractor and staffing specialist, will be responsible for providing services to assets in the Balder and Ringhorne fields in the North Sea. As part of an integrated project…

Equinor completes sale of U.S. onshore assets in the Bakken

Equinor and Grayson Mill Energy have completed their transaction that was previously announced in February 2021. As a result, Equinor has divested all its operated and non-operated acreage (totalling 242,000 net acres) in the Bakken field in the U.S. states of North Dakota and Montana to Grayson Mill Energy, along with associated midstream assets, for a total consideration of around USD 900 million. Entitlement production from these assets in 4Q 2020 was 48,000 barrels of oil equivalent per day (net of royalty interests). Equinor will continue to operate the assets up to four months after closing as part of a…

Santos completes Bayu-Undan and Darwin LNG sell-down to SK

Santos has completed the sell-down of 25 per cent interests in Bayu-Undan and Darwin LNG to SK E&S, which is also a partner in Barossa. Located at Wickham Point, Darwin LNG is a single train liquefaction and storage facility that commenced production in 2006. The Bayu-Undan facility, which supplies gas to the plant via a 26-inch subsea pipeline, is located approximately 500 kilometres north-west of Darwin in Timor-Leste offshore waters. The facility includes a central production and processing complex with a Floating Production Storage and Offloading (FPSO) vessel for condensate and LPG products and an unmanned wellhead platform. The Barossa…