S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
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
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
East Timor is reassessing its ambitious petroleum development plans, which include the Woodside Petroleum-operated Greater Sunrise project, after discovering the economic analysis behind its proposed schemes is inaccurate.
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.
Woodside Petroleum has denied that first oil from the Sangomar field will be delayed because of the coronavirus pandemic.
Despite a recently announced planned capital raising, Australian-listed Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, is a prime takeover target, as mergers become more likely in a low oil price world.
Woodside Petroleum has struck a $744million deal to buy ExxonMobil’s share of the Scarborough gas field in the Carnarvon Basin, offshore Western Australia.
A group of oil companies have postponed exploration plans for offshore Myanmar until next year in the wake of underwhelming drilling results, a news report said.
Woodside Petroleum has completed a purchase price of $350million for ConocoPhillips' Senegal interests.
Technip has won an engineering services contract by Woodside to provide services as part of an engineering panel with Woodside Petroleum.
Woodside Petroleum has added to its exploration acreage in Africa after gaining interests in Senegal and Guinea-Bissau.
Woodside Petroleum Ltd. reported a 99 percent decline in full-year profit, its worst result in 13 years, and cast doubt on any recovery this year from the energy price crash that forced it to write down the value of its assets.
Woodside Petroleum said it has discovered gas at its second well off Myanmar on the opposite side of the offshore Rakhine Basin where it gas in January.
Woodside Petroleum said its spending for the next year will be an estimated $170million lower than previously planned.
MMA has signed a contract with Woodside Energy worth $50million to provide three vessels to support the company in Australia’s north west region. The company made the announcement as it revealed its yearly results which it said saw a lower than expected first four months of trading due to the low oil price environment. MMA said EBITDA is expected to be in the region of up to $85million for the full year but said it was making the estimate with a “low level of visibility of demand” for the second half of the financial year.
A meeting to discuss Woodside Petroleum Ltd.’s $8 billion takeover bid for Oil Search Ltd. was called off amid speculation that the offer for the Papua New Guinea- focused explorer is too low to succeed. The meeting scheduled for Sunday was postponed at Oil Search’s request, according to a statement from Woodside, the Australian oil producer. Oil Search is expected to reject Woodside’s bid as early as Monday, the Australian Financial Review reported Sunday, without citing sources.
Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, cut its spending plans by about 20%, joining global energy companies in trimming costs after a plunge in crude prices. Woodside expects to spend about $6.2 billion in 2015 with low oil prices expected to continue for an “extended period,” the Perth-based company said today in a presentation after posting a 38% gain in full-year profit. It wrote down the value of oil and gas assets last year by $196 million.