Shell sales increase in Q3 vs TotalEnergies due to higher Asian LNG prices
LONDON, October 31 - Analysts and traders say that higher production and sales of liquefied gas in Asia helped Shell to outperform TotalEnergies in the third quarter. However, group profits for both companies were affected by a drop in oil refining. Shell's quarterly profit of $6 billion beat forecasts by 12 percent, while TotalEnergies reported a profit of $4.1 billion that was slightly below expectations. Shell and TotalEnergies both reported quarterly profits that were down 70% and 82%, respectively.
Alchemy Resources, Australia, signs lithium partnership agreement with Japan's JOGMEC
Alchemy Resources, an Australian miner, announced on Monday that it had signed a deal with a Japanese government agency for the Japanese agency to fund up to A$6,000,000 ($4,15,000,000) in exploration costs to gain up to 51% ownership of Roe Hills in Western Australia. Alchemy Resources will manage the project for the duration of the partnership. Once the Japanese agency JOGMEC has acquired its vested interests in the tenements the two companies are expected to form a joint-venture, according to a company statement.
Fortescue prepares to meet the strong demand for green Iron in China
Fortescue, which is about to start production of green iron using renewable energy in the next year, said that Australia was well positioned to meet China's strong demand for this product. Christmas Creek, the fourth largest iron ore mine in the world, will produce high-purity green iron using solar power at its Christmas Creek operation in Western Australia. Mark Hutchinson (head of the green energy division) told analysts on a call that the company will begin production in 2025…
Woodside Energy's earnings to drop as investors focus on strategic deals
Woodside Energy is Australia's largest independent gas producer and on course to report a decline in its interim earnings on February 2, with investors focused on the company's deal-making strategies after a failed $52 billion merger between Santos. According to Jarden's Visible Alpha consensus, Woodside, based in Perth, is expected to report a underlying net loss after tax of $1.11billion for the six-month period ended June. This compares to $1.90billion reported a year earlier.
Australian regulator: No decision on Woodside Browse Gas Project yet
Western Australia's environmental regulator announced on Monday that it will release recommendations in 2025 on Woodside Energy’s Browse gas project. A newspaper had reported earlier this week that the large project could be rejected. This $20.5 billion gas project off the coast of Western Australia, the largest in the country but still untapped resource has been on the drawing boards for years. The Sydney Morning Herald reported on Monday that the Western Australian Environmental Protection Authority (EPA) sent preliminary comments to the company…
Woodside to Boost Vincent Crude Quality to Ride VLSFO Demand
Woodside Petroleum will improve the quality of Vincent crude by increasing its flash point from July so that it can be blended into very low sulphur fuel oil (VLSFO) and capture higher premiums, two sources told Reuters.Among crude grades, heavy sweet oil, with higher density and less sulfur, is most suitable for blending into VLSFO that meets the new marine fuel sulfur regulations dubbed IMO 2020. However, crude with a low flash point could…
Woodside Finalizes Gas Deal with Uniper
Oil and gas producer Woodside Petroleum Ltd said on Tuesday it has signed an agreement to supply liquefied natural gas (LNG) to German utility Uniper SE for 13 years starting 2021.Under the agreement, Woodside said it would initially supply up to 0.5 million tonnes per annum (Mtpa) of LNG, which could increase to 1 Mtpa from 2025.However, supply from 2025 remains conditional upon a final investment decision related to the company's Scarborough project off northwestern Australia.Woodside is looking to develop Scarborough to feed a new 5 Mtpa producti
Woodside Sees Reserve Base Tripling
Australia's Woodside Petroleum on Tuesday laid out plans to triple its gas and oil reserve base as it pursues projects worth over $36 billion in Australia, Senegal and Myanmar.Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, it said."We believe we now have a compelling growth story," Woodside Chief Executive…
Santos Posts Record High Output
Australia's number two independent gas producer Santos Ltd on Thursday said third-quarter production and sales volumes peaked to record levels, benefiting from higher output from its Western Australia assets.Revenue of $1.03 billion was the second highest quarterly sales on record, the company said in a statement, while production surged 32% to 19.8 million barrels of oil equivalent (mmboe), beating an estimate of 18.9 mmboe by UBS."Another…
Santos Acquires ConocoPhillips’ Northern Australia Interests
Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa.Matt Fox, ConocoPhillips executive vice president and chief operating officer, said, “While we believe the Darwin LNG backfill project remains among the lower cost of supply options for new global LNG supply, this…
Woodside in LNG Supply Deal with Uniper
Australian LNG producer Woodside signed a heads of agreement (HOA) with Uniper Global Commodities SE for a long-term (13 years) supply deal which would kick off in 2021.The quantity of LNG to be supplied will initially be up to 0.5 million tonnes per annum (Mtpa), increasing to approximately 1 Mtpa from 2025.Woodside CEO Peter Coleman said the HOA, signed at Gastech in Houston, builds on previous LNG supply arrangements between Woodside and Uniper.“This HOA deepens our relationship with Uniper…
ExxonMobil Looks to Sell Australian Assets
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion, however decommissioning costs for the ageing fields could dent the price tag, analysts and bankers said.The Gippsland Basin joint venture, off the state of Victoria, has long been the mainstay oil and gas supplier for southeastern Australia…
Woodside Begins Greater Enfield Project
Australian energy giant Woodside has announced in a press release that it will produce first oil from its Greater Enfield project located offshore Australia this month."We expect first oil from the Greater Enfield reservoirs in August 2019. The delivery of the Greater Enfield Project, on schedule and under budgeted cost, is a further demonstration of our capacity to execute our growth plans, Woodside CEO Peter Coleman said.The Ngujima-Yin floating…
Flowserve Inks Deal for Prelude FLNG
Flowserve Corporation (FLS), a provider of flow control products and services for the global infrastructure markets, has entered into a five-year contract with Shell Australia to provide general maintenance services for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility, which is producing natural gas from an offshore field in Western Australia.A press release from the American multinational corporation said that it will support Prelude from its recently refurbished Quick Response Center (QRC) in Darwin…
Beach Energy to Boost Drilling Spend
Beach Energy, Australia's third-largest independent oil and gas producer, ended the 2019 financial year more cashed up than expected and plans to step up spending on drilling while keeping an eye out for acquisitions, its boss said on Wednesday.Beach paid off debt on its A$1.6 billion ($1.1 billion) acquisition of Lattice Energy within just 18 months, two years earlier than originally planned, with the help of an asset sale and strong cash flow from its expanded portfolio.The company ended the year to June 30 with net cash of A$172 million…
Woodside Q2 Revenue Slides 32%
Australia's Woodside Petroleum Ltd reported a 32% drop in second-quarter revenue on Thursday, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.The country's largest listed oil and gas explorer said production for the quarter ended June 30 fell to 17.3 million barrels of oil equivalent (mmboe), from 22.1 mmboe a year earlier. The latest quarter production figure was above Citi estimates of 16.33 mmboe.Sales fell to $738 million from $1.08 billion…
Santos Posts Record Production in Q2
Australia's No 2 independent gas producer Santos Ltd said on Thursday it had clocked record gas production in the second quarter on stronger output across its Western Australia gas assets.Production for the three months to June 30 rose to 18.6 million barrels of oil equivalent (mmboe) from 14.2 mmboe last year, the company said. The figure was higher than a Citi estimate of 17.78 mmboe.The company, however, slightly trimmed the upper end of its 2019 sales and production forecast, while raising the lower end.
Woodside Plans Maintenance at Karratha Gas Plant
Australia's Woodside Petroleum has planned maintenance at its Karratha gas plant, part of the North West Shelf liquefied natural gas (LNG) export project, in the third quarter of the year, according to a notice on the company website.The first scheduled maintenance will affect one unidentified LNG train at the Woodside-operated plant in Western Australia from July 26 to Aug. 13, according to the notice.The second maintenance will be carried out on multiple LNG trains from Sept. 5 to Oct.
Prelude FLNG Ships First LNG Cargo
The first shipment of liquefied natural gas (LNG) has sailed from Shell’s Prelude floating LNG (FLNG) facility offshore Australia, Shell announced Tuesday alongside its joint venture partners INPEX, KOGAS and OPIC.This shipment from the world’s largest floating producer of LNG, located 475 kilometers northeast of Broome in Western Australia, will be delivered by the LNG carrier Valencia Knutsen to customers in Asia, more than eight years after…
Chevron Starts Gorgon Stage Two Drilling
Chevron Australia and the Gorgon joint venture participants have started the Gorgon Stage 2 drilling campaign off the northwest coast of Western Australia.Gorgon Stage Two is an expansion of the existing subsea gas gathering network on the Chevron-led Gorgon facility and is part of the project’s original development plan.Chevron Australia Managing Director Al Williams said the campaign will drill 11 additional wells in the Gorgon and Jansz-Io…
