ICR Integrity bosses hail firm’s resilience and aim to expand overseas footprint
ICR Integrity, of Aberdeen, remained in the red in 2019-20, but the energy service firm’s “resilience” during the Covid-19 pandemic has given its bosses encouragement.
Australia
Santos urges Australia to develop into ‘carbon storage superpower’
Santos chief executive Kevin Gallagher warned oil and gas industry leaders that achieving net zero emissions will be crucial for the natural gas industry to avoid coal’s fate of being shunned by equity investors and lenders.
Queensland set to make $1.54bn hydrogen and renewable energy commitment
A new A$2 billion ($1.54 billion) Queensland Renewable Energy and Hydrogen Jobs Fund will be established to expand on the previous A$500 million Renewable Energy Fund in the Australian state.
Western Australia aims to export as much hydrogen as LNG by 2030
The Premier of Western Australia, Mark McGowan, told the Australian Petroleum Production & Exploration Association (APPEA) conference on Tuesday that the state’s market share in renewable hydrogen exports in 2030 should be similar to its share of liquefied natural gas (LNG) exports today.
Australia opens bids for offshore exploration permits
Bidding is now open for some 80,000 square kilometres of new offshore exploration acreage covering six basins in Australia as the government hopes to rejuvenate lacklustre activity and improve energy security.
APPEA says gas will play vital role in cutting APAC emissions
Andrew McConville, chief Executive of the Australian Petroleum Production & Exploration Association (APPEA), told delegates at the opening of the APPEA 2021 conference in Perth today that natural gas will play a vital role in reducing Australia’s and Asia’s emissions.
Asia’s return to pre-virus oil demand meets several speed bumps
Asia’s uneven oil demand recovery has been headlined by China and India, but the Covid-19 comeback that’s swept through other key fuel-consuming nations is complicating a return to pre-pandemic levels.
Woodside sets new emissions targets for Pluto LNG
Australia’s Woodside has set new interim and long-term targets to hit net zero greenhouse gas emissions by 2050 at its Pluto liquefied natural gas (LNG) export project.
Chevron invests in Australian solar power technology developer
Chevron announced today that Chevron Technology Ventures has participated in a capital raising round for Melbourne-based solar technology developer RayGen Resources.
Woodside eyes large-scale solar plant near Aussie LNG hub
Australia’s Woodside is exploring the supply of 50 MW of solar energy to its Pluto liquefied natural gas (LNG) export facility on Western Australia’s Burrup Peninsular as part of its effort to reach net zero emissions.
Santos starts drilling at East Timor’s Bayu-Undan to keep Darwin LNG running
Santos has started its $235 million Phase 3C infill drilling campaign offshore East Timor in an effort to extend the life of the Bayu-Undan field. If successful, the Santos-led Darwin liquefied natural gas (LNG) export plant in Australia, which is fed by the ageing field, will not need to be shut down while new supplies of gas are developed.
Japan’s Inpex pledges to support carbon reduction projects in Australia
Japanese upstream player Inpex will provide A$1.5 million ($1.162 million) in research funding to Future Energy Exports Cooperative Research Centre (FEnEx CRC) to help develop new technologies that will lower the cost and carbon emissions of energy production in Australia.
Australia’s Woodside eyes ammonia exports to Japan
Australian oil and gas producer Woodside has teamed up with Japanese companies IHI and Marubeni to explore production and export of "green ammonia" to Japan.
Refineries given lifeline in Australia on fuel security risk
The Australian government has stepped in to rescue the country’s two remaining refineries with a A$2 billion ($1.6 billion) package it said will safeguard fuel security.
Safety fears as Maersk Drilling clamps down on unpaid leave for ‘worn out’ expats
Expats on a rig off western Australia have warned that safety would be compromised after Maersk Drilling was forced to “reassess” unpaid leave requests amid the country’s strict Covid regime.
China targets some Australian LNG as trade dispute widens
At least two of China’s smaller liquefied natural gas (LNG) importers have been told to avoid buying new cargoes from Australia, a further example of the impact on trade from souring ties between the two countries.
Inpex takes Ichthys LNG contractors to court in Japan
Japan’s Inpex has filed a lawsuit against joint venture company JKC, which consists of KBR, Chiyoda and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Qatar and Russia set to benefit from China’s robust LNG demand
Among major liquefied natural gas (LNG) suppliers, Qatar, as well as Russia and African producers, look set to benefit from China’s rising demand for the fuel, according to FitchSolutions.
More upstream projects on the horizon for Australia
Australia is expected to see 118 oil and gas projects start operations across the value chain between 2021-2025, making up 6% of the total project starts in the Asia-Pacific (APAC) region, according to GlobalData.
Santos eyes Darwin LNG expansion
Santos is exploring potential liquefied natural gas (LNG) expansion developments for its Darwin export plant in northern Australia after signing a memorandum of understanding with Italy’s Eni.
Eni and Santos eye carbon capture opportunities at East Timor’s Bayu Undan
Australia’s Santos and Italy’s Eni are investigating options to re-purpose the Bayu Undan facilities to extend the life of the project, including a carbon capture and storage (CCS) scheme.
Asia Pacific drives global upstream activity
Asia Pacific has been driving global upstream sanctioning activity over recent months with multiple projects approved in Malaysia and Australia.
Santos completes Bayu-Undan and Darwin LNG sell-down to South Korea’s SK
Australia’s Santos has completed the sell-down of 25% interests in Bayu-Undan and Darwin LNG to South Korea’s SK E&S, which is also a partner in the recently sanctioned Barossa development.
US heavyweight EOG bets on Beehive offshore Australia
US-based EOG Resources will make its first foray in Australia after buying 100% stake in the high-risk Beehive prospect that could hold up to 1.4 billion barrels of oil equivalent (boe). Beehive is potentially the largest undrilled hydrocarbon prospect in Australia.
Renewables project pipeline accelerates in Asia Pacific
Renewables now make up 37% of all power generation projects under construction in Asia, representing a 4% increase in share from the previous quarter, according to the latest IHS Markit Renewable Additions Index (RAI) for Asia Pacific. Although coal power projects remain strong despite climate pressure.