European gas prices slump as risk of Australian strike recedes
With inventories nearly full well before the start of the heating season and industrial demand subdued, the continent for now remains well supplied.
Australasia
Oil and Gas Australasia
Inpex, Total secure more gas for Ichthys exports
"This acquisition is also supported by the efforts undertaken with Inpex in the Bonaparte CCS Assessment joint venture to appraise the area’s potential for geological storage of CO2, in order to abate CO2 emissions from the Ichthys LNG project.”
Australian union flags safety concerns at Woodside platform
The OA said Woodside should be held to account for “running their facilities and their workforce into the ground. Clean your act up Woodside as the health and safety of our members and your 'Licence to Operate' depends on it.”
Wood wins Woodside extension, FEED work
Woodside also awarded Wood front-end engineering and design (FEED) work for the Goodwyn Alpha Low-Low Pressure project, off Western Australia.
Contractor woes at Waitsia drive Beach changes
Beach Energy has appointed a new CEO, Brett Woods, as it faces the fallout from challenges at its Waitsia project.
Australia’s Santos reports $2.5bn profit surge from higher oil and gas prices
Santos (ASX:STO) today announced its full-year results for 2022, reporting record free cash flow of US$3.6 billion and underlying profit jumping 160% to US$2.5 billion. The results reflect significantly higher oil and LNG prices compared to 2021, due to stronger global energy demand, combined with a higher interest in PNG LNG following its merger with Oil Search.
All Australasia Posts
India court rules in Shell’s favor in $1.4billion tax dispute
The Bombay High Court yesterday ruled in favor of the Indian unit of Royal Dutch Shell Plc, Europe’s largest oil producer, in a $1.4 billion tax dispute, bolstering sentiment among overseas investors.
Pan Orient sells share in onshore Thailand block
Pan Orient Energy has sold a 50% interest in its subsidiary which operates its L53/48 Thailand concession to Sea Oil for $42.5million including a working capital adjustments of $2.4million. The deal is expected to be closed by January, with a $4million break free payable by Sea Oil if shareholder approval is not obtained.
Cambay Field discoveries higher than expected
Australian explorer Oilex has announced significant progress at its Cambay Field in India. The company said the hydrocarbon liquid to gas ratio (LGR) found during flowback at the Cambay Field was an estimated 250% higher than expected. During flowback it has been 100 bbls (oil barrels) of liquids per MMscfd (Million Standard Cubi Feet Per Day) of gas.
Technip wins Indonesia contract
Technip has been awarded a substantial contract by Chevron Indonesia for the Bangka development. The French energy company will provide a range of services including procurement, construction, installation and commissioning.
Pirates target oil tankers
Oil tankers are becoming prime targets for armed pirate attacks in Southeast Asia.
New board member appointed after Fosun takeover
Australian explorer Roc Oil has appointed a new non-executive director to its board as a nominee of Transcendent Resources Limited (Fosun). Bin Zhao will become a board member of the wholly-owned subsidiary, after approval of the Fosun offer was made earlier this month.
Statoil lands Australian operatorship
Statoil has agreed a 100% equity share in Australia’s Northern Carnarvon Basin.
BHP records 9% increase in production
Australian oil and gas giant BHP Billiton has reported a 9% increase in production during its third quarter results for 2014. Petroleum production increased by 7% to 67.4MMboe (Million Barrels of Oil Equivalent) as onshore US liquids volumes rose by 49% to 11.5 MMboe.
Expro secures $50million deal
Expro has secured a $50million contract for work offshore Australia.
Infographic: Piracy attacks could rise in South East Asia
A marine intelligence company said piracy in the waters around South East Asia could rise within the coming months.
Hijackers release Vietnam oil tanker after stealing diesel cargo
Pirates released a Vietnamese oil tanker and its 18 crew members yesterday after siphoning part of its diesel cargo, according to the coast guard.
Australian government approves pipeline environmental impact assessment
Gas explorer Arrow Energy has been given approval by the Austrailian government for its environmental impact assessment. The company’s proposal for the central Queensland pipeline, which is expected to be about 500km long, will take coal seam gas (CSG) from Moranbah in the Bowen Basin to Gladstone.
Wood Group PSN lands Australian contract win
Wood Group PSN has boosted its brownfield project portfolio with its latest contract win.
Putin’s willingness to sell assets to China to aid CNPC
China’s biggest energy companies stand to benefit from Russian President Vladimir Putin’s offer yesterday to sell a stake in the country’s second-biggest oil project to “Chinese friends.”
Dry land shortage sparks floating solar plans in Japan
With real estate in short supply, developers of solar power projects in Japan are beginning to look beyond the island nation’s land surfaces.
PetroChina meets forecasts with profit increase
PetroChina the nation’s biggest oil and gas producer, met forecasts with a 4% increase in first-half profit after it sold natural gas at higher prices.
Myanmar kicks off solar drive with $480million ACO deal
Myanmar will expand its sources of clean energy through an agreement with ACO Investment Group, a U.S.-based private-equity fund focusing on Asian emerging markets, to develop two solar-energy plants.
Divex set to make Shah Deniz II mark with new diving system
Diving-equipment technology firm Divex has secured a "multi-million pound" contract to supply a saturation diving system to Keppel Singmarine.
Shell strikes more gas in Malaysia
Dutch oil giant Shell has struck a new gas discovery at its majority owned deep-water block SK318 offshore Malaysia.
Sinopec records profits boost
Sinopec has recorded a 7.5% profit increase for the first half of the year.
GDF Australia assets said to draw interest from PTT
GDF Suez SA’s sale of a stake in its Australian power business has drawn interest from companies including Thailand’s PTT Pcl and Singapore-based Keppel Infrastructure Trust, people with knowledge of the matter said.
Part of Shell’s major FLNG sets sail
The largest piece of turret for Shell’s Prelude Floating Liquefied Natural Gas (FLNG) facility has set sale.
San Miguel to spend $10billion snapping up assets in Southeast Asia
San Miguel Corp., the biggest Philippine company, is prepared to spend as much as $10billion to buy assets in Southeast Asia, President Ramon Ang said. An energy-related target has the potential to boost sales by more than 50%, Ang said on July 2, without giving a price and timeline. The company has announced 41 acquisitions worth $7.8billion since 2000, about three-quarters of which were made since 2008, when it began moving out of the food and brewery business, according to data compiled by Bloomberg. San Miguel said in December 2012 it was looking at a $5billion acquisition in the gas industry.
Falcon agrees farm-out for unconventional Australian basin
Falcon Oil & Gas has agreed a farm-out deal for its unconventional Beetaloo Basin in Australia.
Songa Offshore forms South East Asia joint venture
Songa Offshore confirmed it has forged a joint venture with Opus Offshore Group for its South East Asia operations.