News

  • NEWS

    Geelong home for new Victorian ports body

    Geelong will become Victoria’s centre for maritime excellence, with the State Government establishing a new state-wide ports body in the city. Ports Victoria will bring together the Victorian Regional Chan... more

  • NEWS

    APPEA releases platform ahead of WA State Election

    The oil and gas industry can continue to power Western Australia’s economy and contribute to a cleaner energy future under a stable and efficient regulatory environment, the Australian Petroleum Productio... more

  • NEWS

    U.S. winter freeze hits global olefins market

    Last week’s winter storm has paralysed U.S. petrochemical production and disrupted 15 per cent of the global olefins market, according to Wood Mackenzie. Wood Mackenzie Principal Analyst, Patrick Kirby, sa... more

  • NEWS

    U.S. energy policy to affect Alaska’s oil production after 2030

    New energy policies brought forward by the Biden administration in the U.S. are set to change the country’s oil and gas industry. There has been plenty of discussion over the possible outcome for the upstream... more

  • Geelong home for new Victorian ports body
    25 Feb, 2021
  • APPEA releases platform ahead of WA State Election
    24 Feb, 2021
  • U.S. winter freeze hits global olefins market
    22 Feb, 2021
  • U.S. energy policy to affect Alaska’s oil production after 2030
    18 Feb, 2021

Energy transition to drive refinery and petrochemicals integration

17 Feb, 2021
Last year proved challenging for the world’s refineries as the coronavirus pandemic reduced refinery utilisation and OPEC+ supply restraint narrowed crude price differentials. Despite this, integrated refinery and petrochemical sites significantly outperformed their fuels-only peers, according to new analysis from Wood Mackenzie. One of the most highly integrated sites in China, Hengli, generated a net income of more than US$1.4 billion during Q1 to Q3 2020, at a time when most of the refining industry was incurring significant losses. Alan Gelder, Wood Mackenzie VP Refining, Chemicals and Oil Markets, said over the coming years, the energy transition and the associated…

Domestic gas prices improve but lower prices may not last

17 Feb, 2021
Gas prices fell significantly during the past year, driven in part by the COVID-19 pandemic. While lower gas prices are providing some relief to manufacturers and other gas users on Australia’s east coast, prices were still higher than exported gas, the Australian Competition and Consumer Commission’s (ACCC) latest gas report has highlighted. The report, released on Tuesday, outlines that the recently reduced prices may not last and the risk of a supply shortfall remains. While east coast gas supply is expected to meet demand during 2021, a shortfall of as much as 30 petajoules (PJ) may arise by 2024 in the…

Online portal ensures transparency of NT’s onshore petroleum activities

17 Feb, 2021
Members of the public can now access key information and data on onshore petroleum activities through the Northern Territory Government’s new Petroleum Onshore Information NT (POINT) portal. POINT contributes to the NT Government’s commitment to ensuring transparency in the development and regulation of the onshore petroleum industry. The free mapping portal provides information on the onshore petroleum industry in the Territory, including: The Territory’s regulatory framework; Industry codes of practice and guidelines; Geological regions in the NT, including Basins and Sub-basins; Petroleum titles; Petroleum wells; Companies with a petroleum interest in the NT; and Petroleum activities. The Territory Government is…

Australian LNG shipments increase following production boost

16 Feb, 2021
EnergyQuest has published its Australian LNG Monthly for January 2021. Some of the highlights for the month are as follows: According to the report, Australian LNG shipments in January 2021 were higher compared with December 2020, primarily due to increased production at Woodside Energy’s Pluto Project and the restart of production at Shell’s Prelude Project. Australian projects shipped 6.7 million tonnes (Mt) (97 cargoes) in January, compared with 6.5 Mt (96 cargoes) in December 2020. The monthly record for shipments was 7.1 Mt in December 2019. Australia’s January shipments were 78.5 million tonnes per annum (Mtpa) on an annualised basis.…

Qatar on track to return as world’s largest LNG producer

15 Feb, 2021
Qatar’s move to sanction the $30 billion North Field Expansion (NFE) project puts the country on course to return as the world’s largest liquefied natural gas (LNG) producer by 2030, a Rystad Energy report outlines, based on operational and so far sanctioned projects. Qatar’s liquefaction capacity is forecast to rise to 110 million tonnes per annum (Mtpa), or 18 per cent of the global total, which is for now estimated at 600 Mtpa at the end of the decade. Still, Rystad confirms that more projects are expected to be sanctioned as LNG demand will grow faster than supply. Utilisation rates…

New CEO to lead AEMO through energy sector’s transition

12 Feb, 2021
The Board of the Australian Energy Market Operator (AEMO) has announced the appointment of Daniel Westerman as CEO and Managing Director. Mr Westerman will join AEMO on 17 May from National Grid, a leading London-listed international electricity and gas utility, where he has held a variety of senior executive roles since 2014 and currently serves as Chief Transformation Officer and President of Renewable Energy. Mr Westerman is a chartered engineer and an experienced business leader with significant breadth in the energy sector. At National Grid, Mr Westerman has been responsible for engineering, planning and operational control of the electricity transmission…

Industry’s climate principles support a cleaner energy future

12 Feb, 2021
Australia’s oil and gas industry has reaffirmed its commitment to playing a key role in a cleaner energy future, both in Australia and globally, with the Australian Petroleum Production and Exploration Association (APPEA) releasing the third edition of its climate change policy principles today. APPEA’s newly released report, Australia’s Cleaner Energy Future, which incorporates the principles, outlines the industry’s consistent position on climate change. The policy principles highlight how the sector is committed to meeting emissions reduction targets consistent with the objectives of the Paris Agreement, while maintaining affordable, secure energy supplies to consumers and industries that provide jobs and…