News

  • Renewables drive down wholesale prices

    NEWS

    Gas prices up, but renewables drive down wholesale prices

    In the first quarter of 2024, Australia's shift towards renewable energy generation continued to impact the country's electricity landscape, with renewable sources contributing 39 per cent to the grid, up from ... more

  • LNG remains top choice for lower-carbon shipping

    NEWS

    LNG remains top choice for lower-carbon shipping

    Liquefied natural gas (LNG) continues to be the fuel of choice for lower-carbon shipping, according to analysis by Rystad Energy, despite the rise in orders for vessels equipped with dual-fuel methanol and ammo... more

  • US reimposes Venezuela oil sanctions with door open for special licenses

    NEWS

    US reimposes Venezuela oil sanctions with door open for special licences

    The Biden Administration has announced the reimposition of sanctions on the oil industry in Venezuela, maintaining its stance that without a fair election, there will be no extension of the relief. This move... more

  • Woodside reports successful reserves update as a result of merger with BHP

    NEWS

    Woodside’s Q1 2024 report highlights production and revenue challenges

    Woodside Energy recently released its financial report for the first quarter of 2024, revealing a 7 per cent decrease in quarterly production and a 12 per cent drop in revenue compared to the previous quarter. ... more

  • Gas prices up, but renewables drive down wholesale prices
    24 Apr, 2024
  • LNG remains top choice for lower-carbon shipping
    22 Apr, 2024
  • US reimposes Venezuela oil sanctions with door open for special licences
    22 Apr, 2024
  • Woodside’s Q1 2024 report highlights production and revenue challenges
    22 Apr, 2024
export earnings

Latest data shows Australia’s LNG export earnings will decline

28 Mar, 2024
According to the latest Resources and Energy Quarterly, Australian resource and energy export earnings are forecast to be $417 billion in 2023–24, down from a record $466 billion in 2022–23 following a spike in energy prices. Australia’s LNG export revenues are expected to decline from $72 billion in 2023-24 to $65 billion in 2024-25, and then settle at $50-55 billion in the period from 2025-26 to 2028-29. Lower prices will drive the falls. Export volumes are expected to hold close to 80 Mt annually during this period but may decrease in the latter years as producing reserves start to deplete.…
Mikael Karlsson joins Equinor ASA Board of Directors

Mikael Karlsson joins Equinor ASA Board of Directors

27 Mar, 2024
Mikael Karlsson has been elected as a new member of the board of directors of Equinor ASA — a major Norwegian energy company. The election took place during a meeting in the corporate assembly of Equinor ASA on 20 March 2024. Karlsson, a partner and Vice Chairman of Actis Capital, a leading global investment firm, brings a wealth of experience to Equinor's board. He served as Chief Investment Officer at Actis from 2021 to 2023, and before that, he held the role of Head of Energy and Infrastructure at the firm from 2015 to 2021. Before joining Actis, Karlsson served…
Blockchain to revolutionise operations in the oil and gas sector

Blockchain to revolutionise operations in the oil and gas sector

26 Mar, 2024
Blockchain technology is gaining traction in the oil and gas sector — offering innovative solutions for service contracts, pricing reviews, and transaction life cycle support. It has the potential to reduce costs and improve process efficiencies. According to GlobalData Blockchain in Oil and Gas report, blockchain offers enhanced transparency, compliance, and data security in the industry. Major companies like ADNOC, BP, Eni, Equinor, Repsol, and Shell are actively developing blockchain to address industry challenges. GlobalData Oil and Gas Analyst Ravindra Puranik noted that blockchain has evolved beyond supply chain optimisation to support transaction processing with smart contracts. Consortiums have played a…
Cracking the code on talent: strategies for today's job market

Cracking the code on talent: strategies for today’s job market

22 Mar, 2024
In today’s fiercely competitive job market, the demand for top talent across various industries poses a significant challenge.  Many sectors like mining, construction and IT, are subject to an ageing workforce and there is an urgent need for more young talent to fill these vacant positions. Professions that need specific skill sets, such as software development and engineering, are difficult to occupy, particularly among recent university graduates. Despite the ongoing global demand for minerals, unfavourable perceptions of related industries have dampened enthusiasm for pursuing careers in this field. Furthermore, industries that require physical labour have also experienced a decline in…
The Victorian Chamber of Commerce and Industry's call for a clear plan for the state's transition to net zero emissions has gained further backing from a recent survey of its members.

Victorian businesses seek clarity on switch from gas

21 Mar, 2024
The Victorian Chamber of Commerce and Industry's call for a clear plan for the state's transition to net zero emissions has gained further backing from a recent survey of its members. The survey, which garnered 503 responses, revealed that 86 per cent of businesses believe that shifting to renewables will impact the quality of their output. Nearly half of the respondents indicated that they will not need to replace their gas appliances for the next 10 to 20 years. However, requiring businesses to switch from gas to electricity could significantly increase their operating costs. The power outages experienced in February…
AEMO’s 2024 GSOO emphasises gas's role and urges supply planning

AEMO’s latest GSOO forecasts gas use decline and supply gap

21 Mar, 2024
The Australian Energy Market Operator (AEMO) recently released its Gas Statement of Opportunities (GSOO) for 2024, providing insights into the future of natural gas consumption and supply in Australia. Associate Professor Roger Dargaville from Monash University shared key trends and challenges highlighted in the report. According to the GSOO, natural gas consumption in Australia is expected to gradually decline in the coming years, driven by increases in the electrification of domestic and industrial heating. This shift reflects a global trend towards cleaner energy sources and reduced reliance on fossil fuels. One significant finding of the report is that without changes…
Sentinel Subsea presented Post Commercial Deployment Award (L-R Neil Gordon, Andrew Jaffrey, Jim Gordon, Amy Connell, Robert Thomson and Wynne Evans) (2)

Celebrating innovation at the 2024 Offshore Achievement Awards

21 Mar, 2024
The 2024 Offshore Achievement Awards, held at the P&J Live in Aberdeen, showcased remarkable achievements in the energy industry, recognising individuals and companies for their outstanding contributions. The event, which marked its 37th edition, featured several award categories highlighting innovation and excellence in the offshore sector. Among the winners was Mocean Energy, recognised for its pre-commercial deployment technology. Mocean Energy's innovative approach in this field has paved the way for advancements in renewable energy solutions. Another notable winner was Sentinel Subsea, which received the award for Post-commercial deployment technology. Sentinel Subsea's WellSentinel technology has been applauded for its role in…