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
Carnarvon raises $52.7m as FID eyed for Dorado offshore Australia
Australian-listed Carnarvon Energy (ASX:CVN) said today that it has raised A$70 million (US$52.7 million) via an institutional placement to help bring the large Dorado liquids development offshore Australia to a final investment decision (FID) this year.
Xodus wins Australian decommissioning study
Energy consultancy Xodus has been awarded the Rigid Pipeline Non-Metallic Component Characterisation study by NERA as part of National Energy Resources Australia's (NERA’s) National Decommissioning Research Initiative (NDRI).
Santos hits ‘significant oil discovery’ with Pavo-1 near Dorado
The Pavo-1 exploration well near the Dorado field offshore Western Australia in the Bedout sub-basin has made a “significant oil discovery” that has an estimated breakeven cost at less than $10 per barrel, operator Santos (ASX:STO) said today.
Positive news for Asia LNG as Shell gets green light to restart Prelude FLNG
Australia’s offshore regulator has given approval for Shell (LON:SHEL) to restart its Prelude floating liquefied natural gas (FLNG) facility after the unit was forced to shut down last December due to a fire onboard following a power outage. Significantly, this will help ease the pressure on the tight regional market for liquefied natural gas (LNG).
ExxonMobil to boost Australian gas with $295m investment and more to come
ExxonMobil (NYSE:XOM) has taken a final investment decision (FID) to spend A$400 million ($295 million) on developing additional gas from the Gippsland basin Kipper field offshore Australia. Significantly, the country’s main industry lobby group said there is a massive opportunity for Australia to have more big investment decisions like this – but crucially the policy settings have got to be right.
Shell’s Crux LNG project close to FID, says partner
The Shell-led Crux development offshore Australia, that will help backfill Shell’s (LSE:RDSA) Prelude floating liquefied natural gas (LNG) project, has moved closer to a final investment decision (FID), which partner Seven Group, expects by the end of this financial year.
ConocoPhillips closes $1.6bn deal to boost share in APLNG
ConocoPhillips (NYSE:COP) has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion.
Critics say Santos’ Barossa LNG should be halted until CCS scheme proven
The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.
Woodside profits triple on higher energy prices
Australia’s Woodside (ASX:WPL) reported profits jumping to nearly US$2 billion in 2021 with core profit for the full year more than tripling due to elevated oil and gas prices.
Santos targeting sale of up to $3bn in assets
As part of its portfolio optimisation drive Australia’s Santos is targeting total sales proceeds of between $2 billion and $3 billion by shedding some assets.
East Timor NGO hits out at Santos’ carbon storage plans for Barossa LNG
East Timor-based independent think-tank La'o Hamutuk has hit out at Santos’ plans to store carbon from its proposed Barossa liquefied natural gas (LNG) development at the Bayu Undan field in the Timor Sea by filing a submission to the Northern Territory (NT) Environmental Protection Authority (NTEPA).
Woodside chief leans on BHP expertise for new leadership team
Woodside (ASX:WPL) chief executive Meg O’Neill has appointed several top BHP (ASX:BHP) executives into her new leadership team for the mega-merger that will establish one of the world’s top independent oil and gas companies.
Inpex picks Heerema for Ichthys LNG transport deal
Heerema Marine Contractors will transport and install the 4,800 metric ton Ichthys LNG booster compression module from Indonesia to the project offshore Australia.
Chevron’s giant Gorgon CCS facility operated at half-capacity in first full year
Chevron’s (NYSE:CVX) flagship carbon capture and storage (CCS) scheme, designed to catch emissions at the Gorgon liquefied natural gas (LNG) project offshore Australia, has operated at just over half its expected capacity in the previous financial year, according to the latest project update.
Inpex set to build giant carbon capture hub in Australia
Japan’s Inpex (TYO:1605) has confirmed it aims to lead an effort to build one of the world’s largest carbon capture and storage (CCS) facilities near Darwin, Australia, as it strives to hit its Net Zero 2050 pledge and decarbonise its business.
Opportunities abound as Asia Pacific set for $4 billion subsea spend in 2022
Subsea opportunities will be plentiful in Asia Pacific over the coming years as international oil companies (IOCs) and national oil companies (NOCs) advance a backlog of projects, while offshore wind developers accelerate activity across the region.
Santos cheers booking of CO2 storage capacity
Santos (ASX:STO) today announced a booking of 100 million tonnes of carbon dioxide (CO2) storage resource in the Cooper Basin in South Australia.
Santos prepares to drill exciting exploration well near Dorado
Australia’s Santos (ASX:STO) will this week start drilling Pavo-1, a highly anticipated exploration well, near its high-quality Dorado field offshore Western Australia.
Shell’s Prelude FLNG to remain shut this quarter
Shell’s giant Prelude floating liquefied natural gas (FLNG) vessel offshore northwest Australia is expected to be out of operation for most of Q1, chief executive Ben Van Beurden told reporters following the company’s quarterly results.
Carnarvon upbeat on Bedout basin after East Timor disappointment
Australian-listed Carnarvon Energy (ASX:CVN) is excited by its projects in the Bedout basin offshore Western Australia following a disappointing drilling result at the Buffalo field offshore East Timor.
Woodside completes Pluto LNG Train 2 sell-down to GIP
Australia’s Woodside (ASX:WPL) has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP).
Australia’s hottest day in 60 years triggers LNG plant outage
Australia matched the country’s highest temperature on record, triggering a bushfire warning and temporarily shutting a liquefied natural gas (LNG) export plant on Friday.
South Korea’s Daewoo wins $553m deal for Chevron’s Jansz-lo Australian project
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) reported that it has won a contract worth 656.1 billion KRW ($553.4 million) from Chevron to build an offshore facility for the Jansz-Io gas field development offshore Australia.
Saipem wins $1.1bn of offshore work in Australia, Guyana
Saipem has won two new offshore contracts, in Australia and Guyana, worth $1.1 billion, on the Scarborough and Yellowtail projects respectively.
McDermott wins contract with Woodside for work on Scarborough project
McDermott International has landed a contract for a major LNG scheme off the coast of West Australia.