Chevron and unions agree to end Australia LNG strikes
Chevron (NYSE: CVX) and labor unions reached an agreement to end strikes at key liquefied natural gas facilities in Australia that have roiled the global market for the fuel.
LNG
Chevron and unions near deal to end LNG strike, regulator says
Chevron (NYSE: CVX) and unions are close to a deal to end strikes at LNG export plants in Australia that have roiled global markets, with the nation’s regulator proposing an agreement to bridge the remaining issues.
Chevron asks regulator to intervene in Australia LNG strikes
Chevron (NYSE: CVX) is applying to a labor regulator to help resolve its dispute with unions at liquefied natural gas sites in Australia as workers continue partial strikes.
Centrica signs major LNG supply agreement
Centrica has struck a long-term sale and purchase agreement for a million tonnes a year of liquefied natural gas (LNG) from the US.
EU aims to give members option to block Russian LNG imports
The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions.
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.
China’s taking control of LNG as global demand booms
A rush by China to sign new long-term liquefied natural gas (LNG) deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
Malaysia attracts more oil and gas investment as Petronas hosts stellar exploration round
Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
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.
European gas is stuck in storage after prices sank from peak
Last year, as Russian natural gas supplies to Europe dwindled, buyers on the continent hoarded gas at record prices and injected it into storage in preparation for a grim winter.
China scouts for LNG in risk to gas market’s delicate balance
China is looking for shipments of liquefied natural gas (LNG) into next summer, a move which could tighten global supply and steal shipments away from Europe.
India can add oil and gas while it chases green goal, Modi says
India, the third-largest greenhouse gas emitter, is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070.
There are signs a stronger China rebound will boost oil: IEA
China’s economy could be poised for a stronger-than-anticipated rebound that’ll deliver a demand boost for oil and natural gas, according to the head of the International Energy Agency.
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.
Brunei set to expand long-term LNG supply to Japan
Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. (JAPEX) from April as the company seeks to stabilise finances by boosting shipments to its largest export destination, reported Nikkei Asia.
Philippines greenlights LNG project as domestic reserves shrink
The Philippines has approved a plan to build a small-scale liquefied natural gas (LNG) terminal, adding to six ongoing projects that are expected to boost domestic supply from imports as the Southeast Asian nation’s sole gas field dries up in three years.
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.
PTTEP seeking to divest Cash-Maple gas asset in Australia this year
Thailand’s state-backed energy company PTT Exploration and Production (PTTEP) expects to sell its Cash-Maple gas and condensate field in Australia in 2023, according to a report in the Bangkok Post.
US natural gas falls below $3 for first time since May 2021
US natural gas futures extended losses below $3 amid mild winter weather that helped spark the worst selloff among the country’s commodities.
Australia’s Woodside pumps record oil and gas, eyes more FIDs in 2023
Woodside Energy (ASX:WDS) produced record volumes of oil and gas in 2022, the Australian LNG exporter announced today as it released its fourth quarter financials. Woodside is also getting ready for numerous final investment decisions (FIDs) on various projects in 2023.
Santos Barossa LNG project hit again by indigenous culture worries
The development of the Santos-operated Barossa offshore gas development that will backfill the Darwin LNG export plant in Australia looks set to be further delayed after the offshore regulator suspended planned construction of an offshore pipeline due to indigenous heritage concerns.
South Korea curbs plans for renewables in push for more nuclear
South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets.
Indonesia approves Eni’s $3.35 billion investment plan for Merakes gas to feed Bontang LNG
Indonesia has approved a revised plan of development for Eni’s (MIL:ENI) Merakes and Merakes East gas fields with a total investment of $3.35 billion.