News

  • NEWS

    Permian oil output forecast to rise in Q2

    Fracking in North America has almost recovered to pre-pandemic levels, with the count of started frac jobs reaching a 12-month high in March 2021, a Rystad Energy report has outlined. The number of completed we... more

  • NEWS

    An enhanced framework for decommissioning oil and gas infrastructure

    The Australian Government has approved a suite of measures aimed at enhancing and strengthening Australia’s offshore oil and gas decommissioning framework. In 2018, Wood Mackenzie outlined that there were ... more

  • NEWS

    Calls to protect the Beetaloo’s underground aquifers from fracking

    The Protect Country Alliance (PCA) is calling on the Northern Territory Government to take immediate action to better protect the Beetaloo’s underground aquifers from the fracking industry. 50 days have no... more

  • NEWS

    Energy and climate leaders pledge clean energy action

    Top international energy and climate leaders from more than 40 countries took part in the IEA-COP26 Net Zero Summit on Wednesday to identify how to work together to reduce global greenhouse gas emissions and me... more

  • Permian oil output forecast to rise in Q2
  • An enhanced framework for decommissioning oil and gas infrastructure
  • Calls to protect the Beetaloo’s underground aquifers from fracking
  • Energy and climate leaders pledge clean energy action

Carbon pricing plans could transform upstream oil and gas economics

Currently, few countries require producers to either pay a carbon tax or participate in an emissions trading scheme (ETS). But as governments seek to meet decarbonisation targets, that could soon change. Carbon charges are likely to come, and they will transform the upstream sector, affecting both asset values and the industry’s economics. Graham Kellas, senior vice president, global fiscal research at Wood Mackenzie said governments have two options for imposing carbon charges on upstream operations. “They can either levy a carbon tax, which is a fixed tax rate applied to all carbon dioxide emissions, or implement an ETS. Under both…

Robots could replace hundreds of thousands of oil and gas jobs by 2030

Even when the COVID-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labour costs by several billion dollars by 2030, if there is an industry push for such a transition. One of the segments with much to gain from the adoption of robotics is drilling, as it is highly…

Sinopec strives to achieve carbon neutrality 10 years ahead of China’s goal

Taking a leadership position among the world's major integrated petroleum and petrochemical companies, Chairman of China Petroleum & Chemical Corporation (Sinopec), Zhang Yuzhuo, has announced Sinopec's ambitions to reach carbon emissions peak before China's goal and to achieve carbon neutrality 10 years ahead of China's target. During a results announcement yesterday, Mr Yuzhuo outlined: “To build a world-leading clean energy chemical enterprise, Sinopec will actively embrace the energy revolution and industrial transformation and firmly implement a pioneering development strategy to form an industrial layout that's built on energy resources, winged by clean oil products and modern chemical engineering, and supported…

New Zealand urged to keep renewable gas options open

The Australian Pipelines and Gas Association (APGA) has urged New Zealand’s Climate Change Commission to ensure that renewable gas remains an option for its energy system in the future. In a submission to the Commission’s public consultation on its first package of advice to the NZ Government on actions required to reach net-zero emissions by 2050, APGA expressed concern that the broad set of recommendations for natural gas in the draft advice puts at risk the decarbonisation pathway that future fuels offer New Zealand. Future fuels like biogas, biomethane, hydrogen and bio-LPG offer a range of options to reduce emissions…

Resources and energy exports to hit record $296B in 2020-21

According to the latest Resources and Energy Quarterly report by the Department of Industry, Science, Energy and Resources (DISER), Australia's resource and energy exports are forecast to hit a record $296 billion in 2020–21, which is a strong result considering the COVID-19 pandemic. The improved outlook reflects the ongoing rollout of vaccines, and the momentum this is providing for economic activity and trade amongst many of Australia’s major trading partners. Ongoing success in managing COVID-19 and reduced supply disruptions are expected to restore global demand for resources and energy commodities over the five years. As prices moderate, Australia’s resource and…

AEMO forecasts adequate gas supply to at least 2026

The Australian Energy Market Operator (AEMO) forecasts an improved outlook for gas supply until at least 2026 across the eastern and south-eastern gas systems, if committed field developments and pipeline expansions proceeded as planned, with operation of Australian Industrial Energy's Port Kembla Gas Terminal (PKGT) commencing before the 2023 winter. AEMO’s March 2021 Gas Statement of Opportunities (GSOO) highlighted southern supply risks for winter 2023 if PKGT is delayed and certain conditions emerge, such as a 1-in-20 maximum winter daily demand in Victoria, coincident peaks across southern regions, power-system events significantly increasing gas-powered generation of electricity (GPG), or gas production outages. AEMO…

Training program leads to more local gas sector jobs

13 trainees and apprentices from the Western Downs will kick off their careers within Queensland’s gas sector as part of a successful apprenticeship and trainee program. Resources Minister Scott Stewart visited Shell QGC’s Chinchilla training centre today to welcome the trainees and apprentices to their new role. “I am proud to be here today, supporting Shell QGC’s newest trainees and apprentices as they embark on a career in the resources industry,” Minister Stewart said. “It is an exciting time to join the resources industry which has been so important in Queensland’s economic recovery from the global COVID-19 pandemic.” “And not…