News

  • RE: offshore has tremendous room for growth

    Independent energy research and business intelligence company, Rystad Energy (RE), has analysed the historical investments and oilfield service purchases of the world’s 50,000 oil and gas fields and given ins... more
  • Budget

    NT Budget recognises the role of gas investment

    The Northern Territory has delivered its 2019-20 budget which has highlighted the key role the oil and gas industry has played in the growth of the Territory’s economy. The Ichthys liquefied natural gas (L... more
  • ENN

    ENN and Woodside Energy sign LNG supply agreement

    ENN has signed a Heads of Agreement (HOA) with Woodside Energy for the procurement of 1 million tonnes of LNG per year from Woodside’s portfolio, commencing in 2025 for 10 years. The agreement is a result ... more
  • refinery

    Chevron completes acquisition of refinery interests

    Chevron U.S.A. Inc. (CUSA) has completed the acquisition from Petrobras America Inc. of all the outstanding shares and equity interests of Pasadena Refining System, Inc. (PRSI) and PRSI Trading LLC for $350 mil... more
Budget

Budget highlights oil and gas as major economic pillar

The Australian Petroleum Production & Exploration Association (APPEA) says the Federal Budget has reaffirmed the vital and significant contribution liquefied natural gas (LNG) exports play in sustaining Australia’s economic growth. APPEA Chief Executive Andrew McConville said the government has recognised the critical role the oil and gas industry plays in supporting the Australian economy by providing energy security and exports. This follows the release of the March Resources and Energy Quarterly, which found in 2018-19, Australia’s LNG export earnings are forecast to reach $50 billion, an $18 bi... more

One of a kind LNG plant to be developed in WA

The Western Australian Government, in partnership with The University of Western Australia (UWA), will soon develop a world-first microscale liquified natural gas (LNG) plant, as part of an LNG Futures Facility in Kwinana. Premier Mark McGowan made the announcement in Shanghai at the 19th International Conference & Exhibition on Liquefied Natural Gas (LNG19). The plant will have the capacity to produce up to 10 tonnes of LNG per day and will be used by energy companies, contractors, service providers and small-to-medium businesses to test and refine new technologies at an industrial scale in a live pl... more

Queensland puts in another bid for gas pipelines

The Queensland Government has put pressure on Canberra for new pipeline funding to bring more Queensland gas to market. Mines and Energy Minister, Dr Anthony Lynham has written to his Federal counterpart, repeating his call in Parliament for the Federal Government to investigate new gas pipelines from the Galilee and Northern Bowen basins. The Australian Energy Market Operator (AEMO) backed new gas infrastructure in its latest ‘Gas Statement of Opportunities'  report. The report highlighted that further investment in existing reserves or alternative gas supply infrastructure developments (such as additi... more
space sector

Woodside sees opportunity in space sector collaboration

Woodside and the Australian Space Agency have signed a 'Statement of Strategic Intent and Cooperation', aimed at enhancing the capability and competitiveness of Australian industry and promoting technology transfer between the space sector and the oil and gas sector. Australia’s Minister for Industry, Science and Technology Karen Andrews said the agreement will provide opportunities for research and development, capability training and technology transfer. “Woodside is currently expanding its capabilities in remote operations and technologies. Once commercialised, these technologies will not only have ... more
emissions

BP commits $100 million to fund new emissions reductions projects

BP has established a $100 million fund for projects that will deliver new greenhouse gas (GHG) emissions reductions in its Upstream oil and gas operations. The new Upstream Carbon Fund will provide significant further support to BP’s work generating sustainable GHG emissions reductions in its operations.  In April 2018, BP set clear, near-term and specific targets aimed at reducing its emissions and advancing the energy transition, including achieving 3.5 million tonnes of sustainable GHG emissions reductions across the BP Group from 2016 to 2025 and targeting a methane intensity of 0.2 per cent. Since ... more

Changes to environmental regulations to increase transparency of offshore activities

All environment plans for offshore oil and gas activities will soon be published and draft environment plans for offshore seismic and exploratory drilling activities will be open for public comment, under changes to Australian environmental regulations this week. Minister for Resources and Northern Australia, Matt Canavan announced the changes on Tuesday, stating that the new requirements were part of a suite of changes to improve consultation and increase transparency of offshore oil and gas activities. “Australians need to be confident that oil and gas activities being carried out offshore meet our str... more

2018 was a bumper year for WA’s resources sector

Political tensions across the globe provided commodity markets cause for concern throughout 2018, but this was not enough to offset a bumper year for the Western Australian resources industry. Western Australia’s mineral and petroleum industry experienced record sales of $127.4 billion in 2018, according to new statistics by the Department of Mines, Industry Regulation and Safety. This eclipsed the previous calendar year record value of $116 billion set in 2013 and was greater than the financial year record of $123 billion set in 2013-14. The bulk of the almost $18 billion year-on-year increase was at... more