2021 set to be record for Australia renewables
This year will be busy for Australian renewable energy players with an estimated 5.3 gigawatts of utility PV, wind and battery projects expected to finish commissioning, revealed Rystad Energy.
Australia
Rystad expects $15bn of Australasia upstream projects to get nod
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
Petrofac wins its first Australia decommissioning contract
Petrofac has won its first contract for decommissioning work in Australia after building a track record in the UK.
IOCs eye $12 billion worth of mergers and acquisition deals in the Asia Pacific region
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Australia’s $26bn renewable power opportunity
Australia could offer a $26 billion renewable power generation investment opportunity this decade if the government can implement an ambitious long-term Renewable Energy Target (RET) to reverse a slowdown in wind and solar spending.
Worley job cuts reach 11,400 since start of pandemic
Engineering giant Worley has confirmed its job cuts total since the start of the Covid pandemic has reached 11,400.
North Sea tech to tackle environmental issues arising from Australian bush fires
Environmental issues arising from mining and bush fires in Australia are to be tackled with the help of a North Sea safety technology.
Shell to sell stake in Australian LNG facilities for £1.9bn
Shell has struck a deal to sell a 26.25% stake in the Queensland Curtis LNG (QCLNG) common facilities to Global Infrastructure Partners Australia for £1.9 billion.
Australia’s Santos steals a march with Barossa LNG deal
The Santos-led Barossa LNG export project is on track for a final investment decision (FID) within six months after drastically cutting costs and securing a major Japanese buyer for some of Australia’s dirtiest LNG.
Woodside helps Australian offshore exploration spend hit 44-year low
Despite offshore exploration spending hitting a new low, drilling activities are expected to ramp up, with BP’s exciting Ironbark-1 well targeting a potentially giant gas deposit off Western Australia and Santos probing an exciting shale formation in Northern Australia
Ex-Leighton exec arrested over Iraqi bribe claims
The Australian Federal Police (AFP) have arrested a man in Brisbane over corruption allegations tied to work carried out in Iraq.
UK needs a clear strategy before green hydrogen energy can take off
A clear green hydrogen energy strategy is necessary if energy companies are to commit to investing in UK green hydrogen projects.
Giant hydrogen project in Australia wins path to faster approval
An ambitious hydrogen project in western Australia that seeks to become the world’s largest renewable energy export facility got a boost by winning major project status from the government.
Total delivers carbon offset LNG to CNOOC
Total has delivered its first cargo of carbon neutral LNG to China National Offshore Oil Corp.’s (CNOOC) Dapeng terminal.
Less than half of global green hydrogen pipeline to be operational by 2035 – Rystad
Biting costs mean less than half of the planned pipeline of green hydrogen projects globally is likely to be up and running by 2035, according to Rystad Energy.
Australian-firm Oilex records pre-tax losses of $4.5m
Oilex has said it will continue to “review business opportunities” in high potential areas despite taking a financial hit due to the Covid-19 pandemic.
BP worker sacked over Hitler meme wins more than £100,000 in compensation
A BP worker who was sacked for mocking management using a meme of Hitler has won a compensation claim for nearly £110,000.
EnerMech secures contract for major Australian infrastructure project
Aberdeen’s EnerMech has secured a contract to provide mechanical, electrical and instrumentation (ME&I) services on the next stage of WestConnex, Australia’s largest road infrastructure project.
Sunset at East Timor’s Greater Sunrise LNG after Woodside write-down
Shifting political dynamics in East Timor hint at a change in direction for the petroleum sector as Woodside values the country’s proposed Greater Sunrise project at zero.
Oil and gas drilling set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
Worley cuts another 1,900 jobs due to Covid-19
Engineering giant Worley has cut another 1,900 jobs globally in response to the Covid-19 crisis.
Sonangol signs up to drill wells in Cuba
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Australia looks to Big Oil in latest plan to curb emissions
Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.