News

  • subsea

    NEWS

    Surging oil and gas demand expected to boost subsea production

    Subsea technology has been witnessing a substantial growth lately. Rising global oil and gas demand and supply disruption from the Russia-Ukraine conflict have propelled the oil prices to over $100 in 2022. ... more

  • wholesale electricity

    NEWS

    Australia’s east coast reaches record wholesale electricity costs 

    According to AEMO, the June quarter was an unparalleled period for Australia’s energy markets, with wholesale electricity spot prices averaging $264 per megawatt-hour (MWh) in the National Electricity Market ... more

  • Jobs and Skills Australia

    NEWS

    Resources industry welcomes Jobs and Skills Australia

    The Federal Government has introduced the Jobs and Skills Australia Bill 2022 to the Parliament which repeals the National Skills Commissioner Act 2020. Minister for Skills and Training Brendan O'Connor sai... more

  • Nord Stream

    NEWS

    Nord Stream re-opening not enough to deter investment in non-Russia assets

    Russia has re-opened its Nord Stream Pipeline after 10 days of stopping critical supplies to Europe through Germany. However, it is only running at 40 per cent capacity, which is not enough to meet Europe’s n... more

  • Australia’s east coast reaches record wholesale electricity costs 
  • Resources industry welcomes Jobs and Skills Australia
  • Nord Stream re-opening not enough to deter investment in non-Russia assets
  • Future energy basins must consider sustainability targets

Queensland missing out on $5 billion royalties while gas industry profits soar

Gas industry revenues are up 115% in the last financial year, yet Queenslanders are missing out on an estimated A$5 billion in royalties due to an ineffective royalty structure, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Bruce Robertson, IEEFA LNG/gas analyst and author of the report, said today’s extraordinarily profitable gas and commodity market was reaping huge rewards for coal and gas industry groups globally, including for the owners of three liquefied natural gas (LNG) plants at Gladstone in Queensland. Robertson said: “The three Gladstone LNG exporters have more than doubled their…

Record contribution shows importance of LNG projects and export market certainty

New figures revealing the record contribution of Australia’s oil and gas exports highlight the importance of LNG exports and the investment policy settings that have made them critical to the national economy and our global reputation, according to Australia’s oil and gas industry. The Australian Petroleum Production & Exploration Association (APPEA) welcomed the Australian Government’s latest Resources and Energy Quarterly report, which showed record gas exports propelling Australia to record overall resources export earnings of $405 billion last financial year, up $96 billion or a third on the previous year. LNG export values totaled $70 billion in 2021-22, more than…

Victorian gas roadmap needs flexibility: ENA and APPEA

The recently announced Victorian Gas Substitution Roadmap will push consumers onto coal, ignores the cost imposts caused by years of gas development bans in the State, and bizarrely proposes that other States should forego export revenue, according to the Australian Petroleum Production & Exploration Association (APPEA). Energy Networks Australia acting chief executive Tamatha Smith said the Gas Substitution Roadmap released by the state government should allow for all options to be explored to support renewable gas development or customers could end up paying more. She said: "Seventy per cent of Victorians rely on gas for heating and cooking. "Meeting all…

ADGSM extension consultation should focus on maintaining global investment confidence: APPEA

Australia’s oil and gas industry will work constructively with the government during consultation over an extension to the Australian Domestic Gas Security Mechanism (ADGSM). The Australian Petroleum Production & Exploration Association (APPEA) said the policy settings for the sector needed to maintain investment confidence in Australia. APPEA acting chief executive Damian Dwyer said the oil and gas industry would work with the government as part of the consultation on extending the ADGSM. He said: “Australian natural gas has a critical and ongoing role to play in the cleaner energy future mix, both domestically and internationally, but to do that it…

Woodside invests in award-winning carbon-to-products company

Woodside Energy has made a US$9.9 million equity investment in String Bio Private Limited, the developer of a patented process that can recycle greenhouse gases into value-added products such as feed for livestock. String Bio is an award-winning India-based company combining biology, engineering, and chemistry in an effort to develop sustainable and scalable products to address global issues such as climate change and food scarcity. Woodside is exploring the potential of String Bio’s carbon-to-products technology to support its decarbonisation efforts, targeting abatement of methane emissions at its operational sites. String Bio’s proprietary technology converts methane into a single-cell protein that…

Ampol extends carbon neutral fuel program following successful pilot

Ampol is expanding its carbon neutral fuel solution – Ampol Carbon Neutral - aimed at offsetting the greenhouse gas emissions associated with the sourcing, refining, distribution, retailing and consumption of our petrol and diesel products. Following the completion of a successful pilot program delivered over the past 10 months, all Ampol business customers will get access to Ampol Carbon Neutral. This will allow Ampol business customers to take meaningful action to start their decarbonisation journey, while also supporting important environment and community projects in Australia and overseas. Ampol Carbon Neutral offsets emissions through the purchasing and retirement of a portfolio…

NERA GeneratER program identifies innovative waste recycling technology

WA-based chemistry business Epichem has secured a recycling pilot with Shell Australia to help reduce plastic waste from Shell’s operations and supply chains. The pilot was made possible through NERA’s (National Energy Resources Australia) GeneratER program, delivered in partnership with the Western Australia government. GeneratER is dedicated to identifying opportunities to connect specialist SMEs to larger industry operators. The Epichem pilot will assist Shell in improving plastic recycling across its operations in Western Australia, Queensland and the Northern Territory, using a unique circular economy waste recycling solution that converts plastics into reusable products. NERA joined forces with Shell Australia to…