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Chevron cans $400m Great Australian Bight drilling plan

By: Esmarie Swanepoel     13th October 2017 US oil and gas major Chevron will abandon its $400-million exploration programme in the Great Australian Bight, saying drilling in the region could not compete for capital in Chevron’s global portfolio, given the low oil price environment. “We appreciate the strong support from governments,... 

Product range to expand to construction industry

By: Simone Liedtke     13th October 2017 Owing to the risk posed by utility pipes, and electrical lines and cables in the ground, industrial product supplier Actum Industrial – part of the Actum Group – is targeting the construction, municipal, and oil and gas industry with its Ridgid range of tooling equipment – such as the SR-20 and... 

Liquid Fuels 2017: A review of South Africa's liquid fuels sector (PDF Report)

     5th October 2017 Creamer Media’s Liquid Fuels 2017 report examines these issues in the context of South Africa’s business environment, including South Africa’s refining capacity; the proposed introduction of Clean Fuels 2 specifications; the development of the country’s biofuels industry; fuel pricing; the... 

Explorer seeking partners to support its efforts to tap Mauritania’s mineral wealth

By: Ilan Solomons     7th July 2017 Mauritania has many mining investment opportunities, with economic, social and political conditions conducive to the pursuit of developing a sector considered strategic by the country’s government, says Oil, Energy and Mines Minister Dr Mohamed Abdel Vetah. He points out that the Mauritania... 

Exploration to restart in Great Australian Bight as Norway’s Statoil takes over BP permits

By: Esmarie Swanepoel     9th June 2017 Norway’s Statoil has inked a swap agreement with petroleum major BP, and will now start exploration in the Great Australian Bight. BP in October shelved plans to explore the Bight, following a review of the company’s upstream strategy. The company said at the time that the Bight project would... 

Civil air cargo version of the Super Hercules transport makes first flight

By: Keith Campbell     9th June 2017 The civilian version of the Lockheed Martin C-130J Super Hercules military airlift aircraft, the LM-100J, made its maiden flight on May 25, the company announced on the same day. This first flight was from the company’s plant at Marietta in the US State of Georgia, and during it the aircraft... 

Canavan takes aim at ‘ridiculous’ gas exploration moratoriums

By: Esmarie Swanepoel     15th May 2017 Federal Resources Minister Matt Canavan has committed to work with state and territory governments in an effort to lift “ridiculous” moratoriums on gas exploration. Speaking at the Australian Petroleum Production & Exploration Association (Appea) conference in Perth on Monday, Canavan said the... 

More land released for oil and gas exploration

By: Esmarie Swanepoel     15th May 2017 The Australian government has announced that 21 new areas in commonwealth waters will be made available for oil and gas exploration through the 2017 Offshore Petroleum Exploration Acreage Release. The areas sit across eight basins in commonwealth waters off the Northern Territory, Tasmania,... 

Senate inquiry into Bight fizzles

By: Esmarie Swanepoel     12th May 2017 A Senate inquiry into oil and gas exploration in the Great Australian Bight has failed to deliver conclusive results, with committee members failing to reach a consensus or make a formal recommendation to the government. While the Greens senator remained opposed to any oil and gas exploration in... 

Review finds petroleum resources rent tax sufficient

By: Esmarie Swanepoel     28th April 2017 The Australian oil and gas industry has welcomed an independent review into the operation of the petroleum resources rent tax (PRRT), which concluded that the Australian community is not being short changed by the current royalty and tax system. Federal Treasurer Scott Morrison in November last... 

India's oil, gas companies seek minimum floor price for natural gas

By: Ajoy K Das     24th March 2017 Oil and gas exploration and production (E&P) companies in India are seeking to have the natural gas pricing regime revised to allow for the setting of a minimum rate, as a sustained fall in prices is fast eroding the economic viability of operations. The E&P companies, in a communication with the... 

Proponents see glistening future in seabed mining, but environmentalists fret  

By: Megan van Wyngaardt     24th March 2017 With the current known mineral deposits on land increasingly being depleted globally, necessitating greater exploration, interest in deep-sea minerals is growing as mining companies look for future sources to exploit. “The ocean is where future resources exist,” India Council of Scientific and... 

Opportunities from the Indian Ocean Rim

By: Riaan de Lange     24th March 2017 Indian Ocean Rim Association Well, this certainly is a blast from the past. It was a long time ago. I had just joined the then South African Chamber of Business (Sacob) – on March 1, 1995 – and, within a few days, I was jetting off to Mauritius. I thought that I had hit the big time, and yes, the... 

US group unveils its new-generation oversized cargo aircraft

By: Keith Campbell     24th February 2017 US aerospace giant Lockheed Martin has rolled out the first example of the commercial version of its C-130J Super Hercules military airlifter. The civilian model is designated the LM-100J and it was built, and the roll-out ceremony took place at, the company’s plant at Marietta in the US State of... 

South Sudan in talks with India to revive closed oil blocks

By: Ajoy K Das     12th December 2016 The government of South Sudan has initiated talks with India to revive oil blocks closed in the wake of a civil war in 2013. During preliminary discussions between government representatives of the two countries, South Sudan offered compensation to ONGC Videsh, the overseas arm of India’s oil and... 

NT's oil and gas exploration soars

By: Esmarie Swanepoel     7th December 2016 The Northern Territory government has celebrated the 47% increase in oil and gas exploration in the state, which has grown to its highest rate in 18 months. Companies spent a total of A$34.8-million on oil and gas exploration, marking the first significant upturn in exploration since the global... 

Iran’s Farzad oil gas block seen slipping away from India

By: Ajoy K Das     16th November 2016 India’s bid to develop Iran’s Farzad B oil and gas fields is seen to be slipping away as the nations failed to meet the October deadline for reaching an agreement on the development of the asset. Even amid increased diplomatic engagements between the two countries over the past month and a rush... 

Aquaculture holds strong growth potential for South African economy

By: Megan van Wyngaardt     31st October 2016 Since the launch of the oceans economy initiative, under Operation Phakisa, in July 2014, government has invested around R17-billion in the initiative’s various workstreams, including marine transport and manufacturing, offshore oil and gas exploration, aquaculture, and marine protection services... 

Small oil, gas field bid extension raises questions over auction response

By: Ajoy K Das     17th October 2016 The Indian government has extended the bid submission deadline for the auctioning of 67 marginal oil and gas fields, which may be an indication of a poor response to the auction. While officials in Oil and Natural Gas Ministry declined to comment on the response to the auction, an industry source... 

Greens apply for drilling ban in Great Australian Bight

By: Esmarie Swanepoel     15th September 2016 The Australian Petroleum Production and Exploration Association (Appea) has warned that banning oil and gas exploration in the Great Australian Bight could potentially increase Australia’s reliance on imported oil and deprive South Australia of much-needed new investment and jobs while delivering... 

Rising unrest in Venezuela dims India's hopes of recovering dues

By: Ajoy K Das     7th September 2016 India’s hopes of recovering an estimated $600-million to $700-million from Venezuela on behalf of its oil industry have dimmed following the social and economic unrest in the Latin American country. Even India's proposal to offset the dues against oil imports from that country has not received... 

Exploration investment tumbles in June quarter

By: Esmarie Swanepoel     5th September 2016 The Australian Petroleum Production and Exploration Association (Appea) has said that the latest data by the Australian Bureau of Statistics (ABS), into exploration expenditure, was an ‘urgent’ wake-up call for both government and the industry. The ABS on Monday revealed that total mineral... 

Indo-Russia Summit expected to fast-track mining, hydrocarbon collaboration projects

By: Ajoy K Das     26th August 2016 The forthcoming yearly Indo-Russia Summit, in October, is expected to lay down the framework for scaling up bilateral engagements in the mining, energy and hydrocarbon sectors, wherein mega marquee investments have already been put on the anvil. While the bilateral agreements up for discussion... 

Hydrocarbon policy requires private Indian CBM firms to apply for new licences

By: Ajoy K Das     12th August 2016 In a blow to existing private companies operating coal blocks exclusively for coalbed methane (CBM), they would have to seek fresh licences from the Indian government under the newly unveiled Hydrocarbon Exploration and Licensing Policy (Help). In a clarification to a Parliamentary committee, the... 

India likely to tweak model revenue sharing contracts before next oil, gas auctions

By: Ajoy K Das     28th June 2016 The Indian government is ready to tweak the model revenue sharing contract between it and oil and gas exploration (E&P) companies, before putting up more blocks for auction under the newly unveiled Hydrocarbon Exploration Licensing Policy (HELP) next year. According to an official in the... 

TMK’s Seversky Tube Works orders from SMS group heat treatment line for tubes

     9th June 2016 TMK’s subsidiary Seversky Tube Works, located in Polevskoy, Russia, has placed an order with SMS group www.sms-group.com for a heat treatment line for tubes and pipes. The plant produces seamless and welded pipe and tube mainly for oil and gas. With the installation of this line, TMK - one of the... 

Incentives must remain crucial part of SA’s industrial policy arsenal

By: Duane Newman     3rd June 2016 I was heartened to hear Trade and Industry Minister Dr Rob Davies confirming the importance of investment incentives when he unveiled the latest iteration of government’s Industrial Policy Action Plan (Ipap) earlier this month. 

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... 

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. 

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... 

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... 

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