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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... 

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,... 

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