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
Woodside reports “extremely difficult” quarter
In the first quarter, Woodside reported an average portfolio sales price of $85 per boe. In the second quarter, this fell to $63.
Australian fossil fuels giants severely underestimate methane leaks
The “gross under-reporting” of methane leaks from Australia’s fossil fuel sector signals the urgent need for many large industrial facilities to double their rate of decarbonisation, according to a new report.
Woodside confirms death of worker at Australia’s largest oil and gas project
An offshore worker has died at the North Rankin Complex (NRC) off Western Australia, operator Woodside confirmed on Friday.
Minister offers APPEA “pathway to the future”, while activists arrested
Woodside’s O’Neill said Australia had an opportunity to become a “regional CO2 storage leader”, offering to help countries such as Japan and South Korea.
Magistrate “encourages” environmental protest against Woodside
“I encourage you to do it. You should be encouraged to do it in a lawful manner. It should be something held to be very precious to all of us. In this case you simply went too far,” the magistrate said.
Shell is selling its stake in Australian gas project to BP
The joint venture is reviewing ways to manage the emissions, including the feasibility of carbon capture and storage.
Paul Blakeley sets out his vision for Jadestone’s growth
Among the company’s plans, it sees gas as playing an important part. The company took final investment decision (FID) on the Akatara gas project in June 2022. It is 28% complete and should reach first gas in the first half of 2024.
Santos says Barossa remains on track despite drilling halt
Santos says drilling at its Barossa project off Australia could restart by the end of the year and that the project remains on time and on budget for start-up in 2025.
Making the CUT in Australian decom projects
CUT have just completed another large decom project in Western Australia.
WSG Eftech wins big in Australia with Santos, Beach contracts
Following an acquisition deal last year. maintenance specialist WSG Eftech has secured a host of contract wins in Australia with the likes of Santos and Beach Energy.
Origin agrees sale to Brookfield group, MidOcean
A Brookfield consortium and EIG’s MidOcean Energy have agreed a deal to buy Origin Energy, which has power market and LNG interests in Australia.
Jadestone adds another delay to Montara restart
However, “a small number of inconsistencies in standard fittings were identified” during this process. As a result, Jadestone is now tackling these problems in order to ensure safety.
Chevron, Jera build CCS plans on LNG roots
“[Jera] are interested in whether there is a way to drop products such as hydrogen and ammonia into the LNG value chain,” said Jeff Gustavson, president of Chevron New Energies.
Woodside taps former TotalEnergies E&P boss in board reshuffle
Woodside Energy has announced a series of changes to its board, taking in a capital markets expert and a former Total executive to replace two retiring members.
Valaris rig heads to New Zealand for Beach
Beach is working in the Taranaki Basin, where it intends to press ahead with phase 2 of the Kupe field development. This is in PML 38146.
Woodside to hunt for Gulf of Mexico M&A after record profit
Woodside Energy Group, Australia’s biggest oil and gas producer, says it will review potential acquisitions in the Gulf of Mexico after reporting its highest-ever profit.
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.
Eni’s struggles at Blacktip trigger gas supply security fears in northern Australia
Gas production at Eni’s (MIL:ENI) Blacktip gas field offshore northern Australia has fallen faster than expected raising fears about energy security in the Northern Territory. However, the Italian company hopes development drilling might reverse the decline.
Woodside Energy to book nearly $4.4bn depreciation hit
Australia's Woodside Energy Group (ASX:WDS) said today that it would book a nearly $4.4 billion expense this year, as changes in its asset depreciation calculation method outweighed a tax benefit and a reversal of an impairment charge.
Australia’s Santos in $328m write-downs
Santos (ASX:STO) will take US$328 million ($470.8 million) in write-downs after slashing the volume of oil and gas reserves estimated in fields off Western Australia and other late-life ventures, despite increasing total reserves to a record level.
Santos bags key Dorado environmental approval in Australia
Australian oil and gas producer Santos (ASX:STO) today reported that it has approval from the offshore petroleum regulator for its US$2 billion Dorado oil and gas project in Western Australia. Significantly, the news may ease concerns about the regulator’s harder approach towards project approvals since a court ruling last year.
Chevron to spend $26m on Australian CCS research
Chevron (NYSE:CVX) will contribute a combined A$38 million (US$26.4 million) to carbon capture and storage (CCS) research projects in Western Australia and Victoria, advancing knowledge of the critical emissions technology for a lower carbon future.
Woodside revisits Timor LNG concept for Sunrise after bullying accusations
Woodside Energy (ASX:WDS) will reassess the option of developing a liquefied natural gas (LNG) project to commercialise the Greater Sunrise gas fields in East Timor after its Timorese partner accused it of “corporate bullying” last December.
Question mark over Beach’s LNG deal with BP as wells disappoint
Australia’s Beach Energy (ASX:BPT) has significantly cut estimated gas reserves at its LNG export project near Perth, Western Australia, by 11% following the Waitsia Stage 2 drilling campaign. BP (LON:BP) has an agreement to offtake the liquefied natural gas (LNG) volumes, which could be in doubt if the geology does not stack up as expected.
Japan to drive low-carbon energy investment into Western Australia
The Western Australian government today signed a new Memorandum of Understanding (MOU) with the Japan Bank for International Cooperation (JBIC) covering hydrogen, ammonia, low emission technology and decarbonisation.