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Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

Emerald takes a new direction with Cambodia gold JV

By: Esmarie Swanepoel     30th March 2016 Explorer Emerald Resources would suspend share trading at the end of March as the company shifted its focus from US oil and gas exploration to gold exploration. ASX-listed Emerald on Wednesday announced that it had signed a farm-in and joint venture (JV) agreement with fellow-listed Renaissance... 

Oil-Gas Exploration Rates Hit Decade Record Lows On Back Of Oil Price Collapse

     9th March 2016 A new report has found that the collapse in global oil prices over the past 12 months is now officially decimating oil and gas exploration activity in Australia – the lifeblood of feedstock for existing and future oil and gas projects. And despite gas and petroleum annual production hitting... 

S Africa’s ‘R1bn a day’ infrastructure spend to be maintained 

By: Natasha Odendaal     8th March 2016 With the expansive development of infrastructure keeping South Africa above the recessionary threshold, Economic Development Minister Ebrahim Patel on Tuesday said more major projects would be announced soon as government aimed to maintain the “extraordinary spending” undertaken in “tough times”.... 

New BHP Australia operations boss not expecting mass job losses

By: Esmarie Swanepoel     8th March 2016 Mining giant BHP Billiton’s new president of operations for its Minerals Australia division, Mike Henry, has been cautious to predict the fallout of the company’s recent restructuring on employee numbers. BHP on Tuesday axed 290 jobs from its Mount Arthur coal mine, in New South Wales, as the... 

Oil conference to explore Saldanha Bay IDZ opportunities

By: David Oliveira     26th February 2016 The South African government’s planned R9.2-billion investment to develop Saldanha Bay into a world-class hub for Southern Africa offshore oil and gas drilling will create substantial opportunities for companies operating in the sector. As such, the Oil & Gas Africa (OGAF) 2016 expo forms an... 

$60/bl oil price the ‘new normal’, but Africa is not benefiting

By: Natasha Odendaal     17th February 2016 The current low oil price environment will become the “new normal” with no end in sight in the downward trend; however, oil-importing African countries were not benefiting on the back of contracted budgets and unstable currencies. This emerged on Wednesday during a panel discussion at the Africa... 

Science department, offshore oil industry set up joint research forum

By: Keith Campbell     12th February 2016 The South African Marine Research and Exploration Forum (Samref) was recently launched by Science and Technology Minister Naledi Pandor. The Forum is a joint initiative of the Department of Science and Technology (DST) and the Offshore Petroleum Association of South Africa (Opasa). The launching... 

Skills development and blue economy prioritised at CIS 2016

By: Simon Sonnekus     12th February 2016 Having identified the lack of training opportunities as a rising concern in the oil industry, the biennial Cape Industries Showcase (CIS), scheduled to take place from July 13 to 15 at the Cape Town International Convention Centre, will focus on skills development and training in the sector. 

OGAF Showcase for Oil & Gas Sector In SA

     9th February 2016 The Government’s planned investment of R9.2 billion to develop Saldanha Bay into a world-class hub for southern African offshore oil and gas drilling will create substantial opportunities for companies operating in the sector. The Oil & Gas Africa 2016 expo forms an effective services showcase... 

Renaissance finds partner for Cambondian project

By: Esmarie Swanepoel     3rd February 2016 ASX-listed junior Emerald Resources has entered into a memorandum of understanding (MoU) with fellow-listed Renaissance Minerals to earn a possible 51% interest in the Okvau gold project, in Cambodia. Under the terms of the agreement, Emerald would sole fund a definitive feasibility study on... 

DST and offshore oil industry set up new joint research forum

By: Keith Campbell     29th January 2016 The South African Marine Research and Exploration Forum (Samref) was launched on Friday by Science and Technology Minister Naledi Pandor. The forum is a joint initiative of the Department of Science and Technology (DST) and the Offshore Petroleum Association of South Africa (Opasa). The launching... 

India ratchets up diplomatic push to secure Iranian gas assets

By: Ajoy K Das     11th January 2016 ndia has initiated a diplomatic push to ensure its toe-hold in the Farzad-B Iranian gas field and to avoid retendering for the Persian Gulf asset. The diplomatic initiative to back ONGC Videsh Limited’s bid to develop the estimated 12.8-trillion cubic foot Farzad-B gas reserve was launched last... 

India shoots down free pricing regime for natural gas

By: Ajoy K Das     3rd December 2015 India’s Finance Ministry has shot down a proposal for free pricing on natural gas on the grounds that the domestic market is not yet ready for such a regime. The decision has effectively derailed the Oil and Natural Gas Ministry’s move to partially dismantle the current administered pricing... 

India proposes African investment sojourn for govt companies

By: Ajoy K Das     1st December 2015 A policy blueprint drawn up by India's Department of Public Enterprises (DPE) has proposed that cash-rich public sector companies set up joint ventures (JVs) in capital scarce African nations, particularly in the natural resources, infrastructure and allied technology sectors. The note prepared... 

Foreign acquisition divides Indian private and public sector companies

By: Ajoy K Das     23rd November 2015 The Indian government has called upon domestic mineral and mining companies to step up the acquisition of overseas assets, again showing up strategic differences between public and private companies. Addressing representatives from the sector, India’s junior Steel and Mines Minister Vishnu Deo... 

E&P companies in India seek change in crude oil, gas production levy

By: Ajoy K Das     18th November 2015 Foreign and domestic oil and gas exploration and production (E&P) majors operating in India have sought concessions on taxes applicable to the production of crude oil, in view of the global slump in prices. In a communication to the Petroleum and Natural Gas Ministry, E&P majors ONGC Limited,... 

Low oil price puts governments under pressure

By: Kim Cloete     30th October 2015 With the current oil price hovering at $50/bl, governments will come under increasing pressure to entice investors not to put their oil and gas exploration and production projects on hold, says Martin Kavanagh, partner in global law firm Herbert Smith Freehills, which recently announced the... 

India’s ONGC to start coal-bed methane production next year

By: Ajoy K Das     28th October 2015 Indian oil and gas exploration and production (E&P) major ONGC will invest an additional $400-million in two coal-bed methane (CBM) blocks to allow for production to start next year. An official involved in the project said ONGC had decided to increase its capital expenditure on the Bokaro and... 

Shell gets nod to drill wells in SA's Orange basin 

By: News24Wire      19th October 2015 The Department of Environmental Affairs has issued an environmental authorisation for Shell South Africa Upstream BV’s proposed exploration drilling in the Orange Basin Deep Water Licence Area, off South Africa’s west coast. This gives Shell permission to drill up to two offshore exploration... 

Fluid sensor systems provider announces new distributor

     16th October 2015 Linear and rotary position sensors company Alliance Sensors Group (ASG) announced its partnership in May with electronics distributor Component Distributors to distribute the group’s in-cylinder linear variable inductive transducer (LVIT) position sensors in North America. ASG’s LVIT in-cylinder... 

Housing emerging as key market for S African engineering sector

By: Natalie Greve     12th October 2015 While the pipeline of infrastructure projects promised under government’s National Development Plan remains largely elusive, the country’s housing and human settlements sector is emerging as a key market pillar of the consulting engineering sector, providing around 11% of the industry’s earnings... 

India to focus on oil diplomacy at India–Africa Summit Forum

By: Ajoy K Das     7th October 2015 Ahead of the India–Africa Forum Summit to be held in Delhi later this month, the Indian government has directed national oil companies to start implementing a roadmap for increased investments in oil and gas assets on the African continent. Oil diplomacy, aimed at gaining greater access to oil... 

Creamer Media publishes Liquid Fuels 2015: A review of South Africa's liquid fuels sector research report

     5th October 2015 Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and environmental considerations, with a... 

Operation Phakisa is positive, but challenges remain

By: Sashnee Moodley     18th September 2015 President Jacob Zuma held a report-back meeting on government’s Operation Phakisa initiative, which focused on the maritime and oil and gas sectors, in Pretoria, last month. 

Indian consortium submits fresh development plan for Iran gas block

By: Ajoy K Das     31st August 2015 A consortium of Indian oil and gas exploration and production (E&P) companies, led by ONGC Videsh, has submitted a revised development plan for the Faizad-B gasfield in Iran. While details of the new development plan were not readily available, a senior ONGC Videsh official indicated that it was... 

Resources Watch

By: Creamer Media Reporter      27th August 2015 This week: Exxaro sets its sights on coal to revive its earnings. AngloGold harvesting its short-life mines. And, legislative changes to be supportive of offshore oil and gas drilling, says President Zuma. 

Waterfall Estate secures slice of key HQ market

By: Creamer Media Reporter      20th August 2015 Providing capital growth fund Attacq with a 15-year project pipeline, the Waterfall City mixed-use development, in Midrand, has attracted a suite of corporates looking to consolidate their satellite centres into a single Gauteng foothold.  

Steel institute to increase presence in Africa

By: Bruce Montiea     14th August 2015 Steel construction industry promoter  the Southern African Institute of Steel Construction (Saisc) believes its renewed strategic focus involving increasing its presence in the rest of the African continent will help the local steel construction industry survive the current trying economic... 

Weld-cladding services benefit petrochemicals industry

By: Bruce Montiea     14th August 2015 Stakeholders in the petrochemicals industry are reaping the benefits of using welding specialist Hydra-Arc’s method of weld cladding, as it enables vessels to contain corrosive material. Hydra-Arc engineer Ewan Huisamen tells Engineering News that weld cladding is the most robust and durable form... 

Legislative changes to be supportive of offshore oil, gas drilling – Zuma

By: Terence Creamer     13th August 2015 President Jacob Zuma says the finalisation of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, which is currently in the Parliamentary process, will assist the country to accelerate offshore oil and gas exploration. Delivering an update in Pretoria on government’s... 

Contract terms to change for next round of India oil, gas blocks auction

By: Ajoy K Das     12th August 2015 India will put nine oil and gas blocks up for auction before the end of the current fiscal year and will transition from production-sharing contracts (PSCs) to revenue-sharing agreements (RSAs) with successful bidders. According to a senior government official, the auction of oil and gas blocks... 

Regulatory uncertainty continues to weigh down South Africa’s oil and gas sector

By: Terence Creamer     5th August 2015 The uncertain regulatory framework for oil and gas exploration and development in South Africa was likely to result in delays to the development of offshore and unconventional “frontier” projects, particularly in light of the depressed pricing environment, PWC’s latest Africa Oil & Gas Review... 

Local manufacturer looks to tighten West African nation’s railways

By: David Oliveira     31st July 2015 Nuts and bolts loosening, tightening and torqueing solutions developer Slogging International’s Slogging Hammer is currently undergoing on-site trials at a railway project for a West African oil and gas exploration company. If these trials prove to be successful, about 6 000 units of the South... 

Marine transport, manufacturing at centre of Operation Phakisa

By: Natalie Greve     22nd July 2015 Aimed at leveraging South Africa’s strategic location and extensive coastline, Operation Phakisa will place at its centre the accelerated growth of the country’s marine transport and manufacturing (MTM) sector, which government believes can contribute up to R23-billion to the national gross... 

India banks on smart diplomacy to re-enter Iranian hydrocarbon sector

By: Ajoy K Das     16th July 2015 Indian oil and gas exploration and production (E&P) majors were banking on some “smart diplomacy” and a “consortium approach” to re-enter Iran in the face of increased global competition, post a nuclear deal and the lifting of sanctions. According to an official associated with Indian E&P major... 

Ingeborg McNicoll transfers to Africa

     7th July 2015 Ingeborg McNicoll, a Partner with Environmental Resources Management leading marine environmental services and specialising in the oil and gas sector has transferred to ERM Sub-Saharan Africa and will be based in Cape Town. As ERM’s global marine leader she brings 30 years of experience to Africa... 

Strata-X Energy appoints Greg Hancock nonexecutive director

By: Creamer Media Reporter      3rd July 2015 TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate finance and capital markets in... 

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