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Valves system ready for African oil production market

By: Donald Makhafola     18th May 2018 Netherlands-based valves manufacturer Mokveld’s new patented low shear technology, the Typhoon valve system for oil production system is available for the African commercial market through South Africa-based high-end and specialised equipment supplier Energas Technologies. “The low shear-force... 

Australia East Coast gas prices seen rising as cheap gas supply dwindles

By: Esmarie Swanepoel     15th May 2018 Australia’s East Coast gas prices are forecast to rise up to 30% to between A$10/GJ and A$13/GJ by the mid-2020s, as cheap gas supply continues to decline, advisory firm Wood Mackenzie has reported. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference,... 

Aurora takes issue with transfer of Molopo’s Orient project

By: Esmarie Swanepoel     9th May 2018 Suitor Aurora Funds Management has raised concerns with the Australian Securities and Investment Commission and the Australian Securities Exchange over recent actions from takeover target Molopo Energy. Molopo this week informed shareholders that the company had taken full ownership of the... 

GAIL India likely to be split ahead of setting up natural gas exchange

By: Ajoy K Das     25th April 2018 The Indian government is likely to split national gas infrastructure and marketing major GAIL India into separate entities, with one controlling pipeline construction and operation and the other natural gas marketing. The proposal comes in the wake of the Indian government moving ahead to set up... 

New Zealand bans new permits for offshore oil and gas exploration

By: Esmarie Swanepoel     13th April 2018 The New Zealand government has announced that no new future offshore oil or gas exploration permits would be granted, in a bid to address climate change. “All three of the parties in this government are agreed that we must take this step as part of our package of measures to tackle climate... 

India extends last date of auction bids for oil and gas fields

By: Ajoy K Das     28th March 2018 Expecting greater response from international oil and gas exploration and production (E&P) majors, the Indian government has extended by a month the last date for submission of bids for 55 oil and gas blocks under the newly framed Open Acreage Licensing Policy (OALP). Government officials said... 

Erin Energy widens loss despite higher oil price lifting revenue

By: Simone Liedtke     16th March 2018 Oil and gas exploration and production company Erin Energy has widened its net loss to $151.9-million, or $0.71 a share, in 2017, from $142.4-million, or $0.67 a share in 2016. The loss comes despite a 30% increase in revenue to $101.2-million and lower exploration and production expenses. The... 

Australia’s offshore exploration activity at 14-year low

By: Esmarie Swanepoel     12th March 2018 The Australian Petroleum Production and Exploration Association (Appea) has warned that the stalled oil and gas exploration in Australia could prove an economic risk. Using the latest data by the Australian Bureau of Statistics (ABS), which indicated that the slump in petroleum exploration in... 

Framework continues to form sector foundation

By: Simone Liedtke     16th February 2018 The economic opportunity represented by the continent’s need for energy makes the African energy industry an attractive prospect for foreign investment, says law firm Norton Rose Fulbright director Lizel Oberholzer. 

Materials supplier company secures contract

By: Marleny Arnoldi     16th February 2018 Construction materials company Afrimat has been awarded a contract to supply building material to the Mozambique liquefied natural gas fields, which will be developed by oil and gas exploration company Anadarko Petroleum Corporation, on the northern border of the country.  

Lion Energy undertaking strategic review of assets

By: Simone Liedtke     14th February 2018 ASX-listed oil and gas exploration and production company Lion Energy is undertaking a strategic review of its assets, and following the changes to the board of directors, which is effectively immediately. On Wednesday, the company announced the strategic review, which is aimed at rationalising... 

India resumes oil and gas block auctions after eight-year hiatus

By: Ajoy K Das     17th January 2018 India will on Thursday hold its first oil and gas auction in eight years, with 55 blocks up for grabs. The auction will also mark the first time that such assets will be allocated under the newly framed Open Acreage Licensing Program (OALP). 

India’s national oil, gas firms likely to get higher prices for gas from ‘difficult’ projects

By: Ajoy K Das     14th December 2017 India’s Petroleum and Natural Gas Ministry has forwarded a proposal for approval of the Union Cabinet that will more than double the price of natural gas produced by national oil, gas exploration and production (E&Ps) companies from fields categorised as “difficult”. However, contrary to demands... 

Indian oil refineries exploring possibility of importing Venezuelan crude

By: Ajoy K Das     29th November 2017 Close on the heels of an offer from Venezuelan national oil company, Petreos de Venezuela SA (PDVSA), to repay its debt in kind, Indian government-owned and -operated oil marketing companies (OMCs) are relooking at the operational viability of using Venezuelan crude as feedstock. Sources say that... 

Global oil exploration dips to 60-year low

By: Natasha Odendaal     1st November 2017 With exploration activity waning, global oil and gas exploration has reached an historic low, according to the latest PwC Africa oil and gas review 2017, which highlights just three new major discoveries in Africa during 2016 and the first half of 2017, compared with 11 in 2015. In 2016, there... 

QRC urges Queenslanders to think of investment at Nov 25 polls

By: Esmarie Swanepoel     1st November 2017 The Queensland Resources Council (QRC) has called on the next state government to support the sector, allowing for more investment in the region. Queenslanders are voting on a new government on November 25. 

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... 

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