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BP invests big to study green hydrogen opportunity in Australia
May 12, 2020

BP invests big to study green hydrogen opportunity in Australia

BP Australia has announced a feasibility study into an export-scale renewable hydrogen production facility in Western Australia. This will help the energy sector to understand the possibilities of using hydrogen to export renewable energy. The project will include an initial investment from BP of (AUS) $2.7 million, with another $1.7 million by Australian Renewable Energy Agency (ARENA). It has committed to releasing the results of the study to the public.

Diamond Offshore slams lawsuit against Beach Energy
April 28, 2020
Source: Reuters

Diamond Offshore slams lawsuit against Beach Energy

Diamond Offshore Drilling, which recently went bankrupt, has slapped a lawsuit against Beach Energy Ltd for abruptly ending a drilling contract worth $65 million. Beach Energy ended the agreement, citing that Diamond Offshore couldn't achieve a “contractual milestone to deliver the rig”. The lawsuit filed in Houston asks the court to render the termination notice invalid, on the grounds that the delay was “largely of Beach’s own making”.

Santos records 13% dip in first-quarter revenue
April 23, 2020
Source: Reuters

Santos records 13% dip in first-quarter revenue

Australian E&P firm, Santos Ltd registered a 13% decline in the first-quarter revenue yesterday due to lower realized prices for oil and gas, but assured about sufficient liquidity and debt headroom to tackle the recent market crash. Santos posted $883 million in revenue from $1.02 billion a year ago. Total production from the firm dropped to 17.9 million barrels of oil equivalent (mmboe), down from 18.4 mmboe last year.

TechnipFMC lands iEPCI contract from Woodside
April 22, 2020

TechnipFMC lands iEPCI contract from Woodside

EPC giant, TechnipFMC has been awarded an integrated engineering, procurement, construction and installation (iEPCI) contract by Woodside. The scope of the contract includes the development of the Lambert Deep field and Phase 3 of the Greater Western Flank fields. The contract will require TechnipFMC to carry out the design, manufacture, delivery and installation of subsea equipment, including a subsea production system (SPS).

Santos & BP ink agreement for investment in Moomba CCS project
March 5, 2020
Source: PV Magazine

Santos & BP ink agreement for investment in Moomba CCS project

Australian E&P major, Santos has inked a non-binding agreement with oil supermajor, BP which will pave the path for A$20 million investment in Australia's Moomba carbon capture and storage (CCS) project. The project aims at capturing 1.7 million tonnes of carbon dioxide currently separated from natural gas at the Moomba gas processing plant each year. This captured carbon will be then reinjected into the same geological formations.

Puma Energy sells its Australia's fuel business to Chevron
Dec. 19, 2019

Puma Energy sells its Australia's fuel business to Chevron

Puma Energy has informed that it will sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million. Puma is the retail and midstream arm of Trafigura. The company has taken this decision amidst pressure to rebalance its books after a decade-long buying spree. "The acquisition will provide Chevron with a stable market for production volumes from our refining joint ventures in Asia", said Chevron.

Woodside might delay Browse Gas project
Oct. 17, 2019

Woodside might delay Browse Gas project

Woodside will delay the final approval date for its mega Browse gas project. Also, the company has decided to bring in the plans to sign off on its smaller Scarborough project. Woodside is focusing on the final investment decision on the $20.5 billion Browse project in the first half of 2021. In early 2020, it will sign off on the $11 billion Scarborough gas project and Pluto LNG expansion.

ConocoPhillips farms out Northern Australian business to Santos
Oct. 14, 2019
Source: Reuters

ConocoPhillips farms out Northern Australian business to Santos

ConocoPhillips has farmed out its northern Australian business to Santos Ltd in a $1.39 billion deal. The acquisition, which will boost Santos’ output by 25%, is second in the line of major acquisitions made by the Australian firm this year. While ConocoPhillips will let go of the Darwin LNG plant and gas fields off northern Australia, it will hold onto its stakes in the Australia Pacific LNG plant in Queensland.

SNC-Lavalin lands contract for Shell’s QGC asset
Oct. 9, 2019
Source: World Oil

SNC-Lavalin lands contract for Shell’s QGC asset

Canadian EPC major, SNC-Lavalin has secured a contract from Shell Australia for the provision of operations and maintenance workforce for the QGC upstream asset. The three-year-long contract will see SNC-Lavalin providing approximately 300 personnel to continue the existing operation and maintenance program for Shell. The QGC asset comprises of 24 field compression stations, six central gas processing plants (CPP), five sales stations and one power station.

Mitsui might sell its 35% stakes in BassGas project
Sept. 19, 2019
Source: Reuters

Mitsui might sell its 35% stakes in BassGas project

Mitsui has decided to sell its 35% stakes in Australian BassGas project. Rothschild is advising the Japanese company on the proposed disposal. Mitsui's share of output from the BassGas in the year to June 2019 was approx 1.1 million barrels of oil equivalent. It has come up with the sale plan at the same time when Exxon has out its ageing Bass Strait oil and gas assets up for sale.

CNPC to supply diesel to Arrow Energy, its Australian JV
Sept. 16, 2019
Source: Reuters

CNPC to supply diesel to Arrow Energy, its Australian JV

Chinese oil major, CNPC has entered into a contract to supply diesel to Arrow Energy, its Australian JV. The three years long contract will enable CNPC to increase refined oil product sales in Australia, the Chinese oil major said in a statement. Australia’s coal seam gas producer, Arrow Energy is jointly owned by CNPC and Royal Dutch Shell, and was acquired in 2010.

Australia beats 2020 clean energy target a year ahead
Sept. 4, 2019
Source: Reuters

Australia beats 2020 clean energy target a year ahead

Australia’s clean energy regulator today said that the country has achieved its 2020 target for producing electricity from large-scale renewable energy ahead of schedule. The achievement for Australia has come despite the slow wind and solar investment, and more than a decade of climate policy uncertainty. The target first set in 2001 aimed at producing 33,000 GWh of power from large-scale renewable energy by 2020.

Chevron kickstarts one of the largest carbon capture projects
Aug. 9, 2019
Source: Reuters

Chevron kickstarts one of the largest carbon capture projects

Chevron Corp yesterday informed about launching one of the world’s largest carbon capture and storage projects. The project involves infusing carbon dioxide into a deep reservoir under an island off Western Australia at Chevron’s Gorgon LNG project. Chevron said that approximately 3.4 to 4 million tonnes of CO2 will be buried every year after the facility reaches full capacity. Gases emitted from the Gorgon field contain at least 14% CO2.

Woodside registers 32% fall in revenue
July 19, 2019
Source: Reuters

Woodside registers 32% fall in revenue

Australian E&P firm, Woodside Petroleum registered lower revenue in the second-quarter earnings released yesterday. Woodside saw a 32% dip in revenues, the first decline in the last six quarters. Revenue dropped over the extension in the maintenance period at the Pluto liquefied natural gas (LNG) facility and weaker prices. Woodside recorded a lower production for the quarter at 17.3 million barrels of oil equivalent (mmboe).

Santos registers record quarterly gas production
July 18, 2019
Source: Reuters

Santos registers record quarterly gas production

Australian energy firm, Santos Ltd has registered record gas production in the second quarter, supported by stronger output across its gas assets. Santos recorded a jump from 14.2 mmboe last year to 18.6 mmboe. The production figure beat analysts’ expectation of 17.78 mmboe. Santos also saw a jump in sales for the three-month period to 22.4 mmboe from 19.1 mmboe in the previous year, producing $959 million in revenue.

Imports of LNG to Australia appear “highly realistic”
May 31, 2019

Imports of LNG to Australia appear “highly realistic”

As the world’s biggest LNG exporter struggles with a looming gas shortage, imports of liquefied natural gas to Australia now appear "highly realistic", says the U.S. energy giant Exxon Mobil. According to the experts, the industry needs at least $6.9 billion to meet longer term gas demand. Further, this would bring down high prices which are affecting many manufacturers.

TechnipFMC secures contract for ConocoPhillips’ Barossa Project
May 10, 2019
Source: OE Digital

TechnipFMC secures contract for ConocoPhillips’ Barossa Project

EPC giant, TechnipFMC has secured a contract from ConocoPhillips for the provision of the subsea production system for the Barossa project, offshore Australia. The scope of the contract includes the engineering, design and fabrication of wellheads, manifolds and control system, apart from the installation and commissioning assistance. ConocoPhillips operates the Barossa Caldita project where Santos and SK E&S are partners.

Woodside inks agreement with ENN Group
April 6, 2019
Source: LNG Industry

Woodside inks agreement with ENN Group

Australia’s largest independent oil and gas company, Woodside has inked a Heads of Agreement (HOA) with China-based ENN Group. The agreement requires Woodside to supply 1 million tpy of LNG from its portfolio for a 10-year duration, starting in 2025. The agreement which was signed during the LNG 2019 conference in Shanghai, comes on the backdrop of the cooperation agreement signed in October 2018.

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