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
Australia’s Woodside and Santos report surging revenues on higher energy prices
High energy prices due to Russia’s invasion of Ukraine have seen revenues surge at Australian oil and gas companies Santos and Woodside.
Pay battle intensifies at Shell’s troubled Prelude FLNG off Australia
Shell (LON:SHEL) said it will lock out workers at its troubled Prelude floating liquefied natural gas (LNG) export project from Monday unless they stop their strike action as the industrial dispute that has disrupted production at the vessel intensifies.
Sembcorp Marine wins deal for major energy company in Australia
Singapore yard Sembcorp Marine will provide engineering, procurement, construction and installation services for a gas topsides project in Australia for an unnamed major energy company. The project is believed to be the Shell-led Crux gas field development offshore Western Australia.
Shell stops Prelude LNG cargoes until July 21 on strike action
Shell (LON:SHEL) has told its customers that it will be unable to deliver liquefied natural gas (LNG) shipments from its Prelude floating LNG (FLNG) facility off north-western Australia due to industrial action over pay, which has been extended to July 21.
Wood to oversee first phase of Northern Endeavour decom work
The Australian Government has awarded Wood the role of Owner’s Team, which will see it assume responsibility for the first phase of decommissioning at the Northern Endeavour vessel.
Shell’s Prelude LNG cargoes disrupted as industrial dispute boils over
Shell (LON:SHEL) said liquefied natural gas (LNG) cargoes from its Prelude floating LNG (FLNG) unit will be disrupted due to a protracted industrial dispute with workers over wages on the vessel offshore Australia.
ExxonMobil seeks heavy lift contractors to deliver proposals for Bass Strait platforms removal
ExxonMobil (NYSE:XOM) has launched a commercial technical tender process for decommissioning several of its facilities in Australia’s Bass Strait.
Jadestone’s oil spill puts spotlight on ageing Montara FPSO at infamous Australian field
When Jadestone Energy (LON:JSE) completed its US$195 million acquisition of the Montara oil project from PPT Exploration & Production (BKK:PTTEP) in September 2018 it was taking a risk with a floating production storage and offloading (FPSO) unit that had a troubled history. Given a recent oil spill at the field in the Timor Sea, and subsequent shutdown of the Montara Venture FPSO, that gamble has come home to roost.
Jadestone hit with stop notice after oil spill incident poses “significant threat”
Australia’s offshore regulator has issued a prohibition notice to Jadestone Energy (LON:JSE) following an oil spill offshore Australia at the Montara oilfield due to immediate and significant threats to the environment as the structural integrity of the FPSO is at risk of failure.
Woodside’s Scarborough LNG project taken to court over environmental assessment
Woodside (ASX:WDS) said it has been notified that the Australian Conservation Foundation (ACF) has started proceedings in the Federal Court of Australia in relation to the environmental assessment of the Scarborough liquefied natural gas (LNG) project in Western Australia.
Oil spill offshore Western Australia at Jadestone’s Montara field, share price dives
UK-listed Jadestone Energy has reported an oil spill offshore Western Australia at the Montara oilfield when oil was being transferred between two crude tanks onboard the Montara Venture FPSO. Oil was observed on the surface of the sea and the field has now been shut down after a hole was identified in the bottom of the tank of the floating production storage and offloading (FPSO) unit.
First test for Australia’s new Government is an energy squeeze
Australia’s new government, elected with a promise to accelerate a shift away from fossil fuels, is holding talks with oil and gas giants to ease an energy squeeze that’s delivered a first major test.
Shell sends ‘thug’ to stop industrial strike action on Prelude FLNG, says labor union
Production at Shell’s (LON:SHEL) Prelude floating liquefied natural gas (LNG) facility offshore Western Australia may soon be affected by industrial strike action after the Offshore Alliance issued the supermajor with a notice of protected industrial action starting 10 June.
Woodside completes merger with BHP Petroleum
Woodside Energy and BHP have completed the merger of Woodside with BHP’s oil and gas portfolio to create one of the world’s largest energy producers.
Shell approves $2.5bn Crux gas project to backfill Prelude LNG off Australia
Shell (LON:SHEL) has taken a final investment decision (FID) to develop the Crux natural gas field offshore Western Australia.
Labor victory in Australia will bring shift in climate policy
Australia’s new Labor government will accelerate efforts to tackle climate change, but climate policy will remain highly politicised, warns Verisk Maplecroft, a strategic risk intelligence company.
South Korea court rejects case against Barossa pipeline financing
A South Korean court has rejected an application from a group of indigenous Australians to block South Korean export credit agencies from funding a deep-water pipeline for the Santos-led (ASX:STO) Barossa gas and liquefied natural gas (LNG) project off northern Australia.
Australia aspires to be ‘renewable energy superpower’ after decisive climate change election
Australians voted in a new government that has vowed to end decades of inaction by one of the world’s highest per capita emitters. Now the fight is about just how quickly to make up for lost time.
Woodside Petroleum rebrands as Woodside Energy Group
Following a shareholder vote yesterday, Australian liquefied natural gas (LNG) developer Woodside Petroleum (ASX:WPL) will change its name to Woodside Energy Group as it prepares to embrace the energy transition.
Woodside wins backing to buy BHP oil, gas amid climate backlash
Woodside Petroleum almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting.
Zero emissions LNG is a ‘credible opportunity’ for Australia says Worley
A road map for the future of Australia’s world-leading liquefied natural gas (LNG) exports has shown how the sector can transition to zero emissions with environmental and business advantages.
Santos CEO Gallagher’s pay package blasted by shareholders
The remuneration package for Kevin Gallagher, chief executive of Australian oil and gas company Santos (ASX:STO), has been criticised as too high with over 25% of shareholders voting against his pay packet.
Carnarvon cheers Pavo resource estimate near Dorado
Australia’s Carnarvon Energy (ASX:CVN) reported that the recent Pavo-1 exploration well drilled offshore Australia proved up a “substantial volume of light oil in excellent quality reservoirs” and “significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities.”
Santos completes sale of Barossa stake to Japan’s JERA
Santos today announced completion of the sale of a 12.5% interest in the Barossa project off northern Australia to Japan’s JERA, the world’s largest buyer of liquefied natural gas (LNG), following the completion of all regulatory approvals.
Santos’ highly anticipated Apus-1 wildcat disappoints in Australia
Santos’ (ASX:STO) Apus-1 exploration well near the Dorado oilfield offshore Western Australia has failed to find commercial hydrocarbons, reported partner Carnarvon Energy (ASX:CVN).
