Archives for October 2017

34th International Geological Congress Travel Grant Scheme for Early-Career Australian and NZ Geoscientists

31/10/2017 Posted by Alison McLeod

Applications for travel in 2018 are now open. Closing date extended to 15th November! Specific funding is available to provide Australian and New Zealand geoscientists in the early stages of their careers with opportunities to travel internationally to further their careers as geoscientists by, for example, undertaking field work in appropriate areas, visiting and working with appropriate international experts, inspecting appropriate mines or other geoscientific features such as type localities, participating in professionally-organised geoscientific conferences or conventions, etc. For the 2017 round of applications, additional funds will be made to early-career geoscientists that propose to make a significant contribution to the READ MORE

APPEA embraces National Energy Guarantee

24/10/2017 Posted by Dale

APPEA has welcomed the National Energy Guarantee announced last week as a new approach to the perennial policy challenge of cutting emissions from electricity generation without crudely picking winners or jeopardising reliability. “APPEA supports market-based policies which deliver least cost abatement, without putting at risk Australia’s trade-exposed industries. Our principles-based approach means that we are open to supporting different models, provided they deliver similar results,” said APPEA Chief Executive Dr Malcolm Roberts. “We have supported an emissions-intensity scheme and a clean energy target. At first inspection, the National Energy Guarantee offers a new way to cut emissions, in line with…

China scoops Bentley Systems Award in Singapore

24/10/2017 Posted by Dale

CHINA’s Offshore Oil Engineering Company, a subsidiary of CNOOC, was the star oil and gas performer at the Bentley Be Inspired Awards Ceremony in Singapore where the company won the BIM Advancements in Mining and Offshore Engineering for innovation driving efficiencies. Bentley Systems Vice President Analytical Product Modelling Director Katherine Flesh said the award recognised excellence in the planning, design, structural engineering, construction, operations and commissioning of mines, mining facilities, marine and both offshore and onshore infrastructure. The award citation was delivered by Raoul Karp, Bentley Systems Vice President Analytical Modelling Product Development, who said of the company’s creativity and…

Chevron cans Great Australian Bight exploration program.

17/10/2017 Posted by Dale

Oil and gas supermajor Chevron described the Great Australian Bight as one of Australia’s most prospective frontier hydrocarbon regions, but said the suspension of its exploration endeavours in the area was because it could not compete in the current low oil price scenario. Chevron Australia managing director Nigel Hearne commented: “We appreciate the strong support from governments, regulators and the local community for our plans to explore for hydrocarbons offshore South Australia. We are confident the Great Australian Bight can be developed safely and responsibly, and we will work closely with the interested stakeholders to help realize its potential.” The…

Natural gas driving down US CO2 emissions

17/10/2017 Posted by Dale

Energy-related carbon dioxide emissions continue to decline in the United States thanks to increasing use of cleaner-burning natural gas. A new report by the US Energy Information Administration (EIA) confirms the growing switch from coal to gas-fired electricity was the biggest contributor to a 1.7 per cent fall in US energy-related emissions last year. The report found that while electricity generation grew by about one percent between 2005 and 2016, related carbon emissions fell by 24 percent. More than 63 per cent of that reduction is due to the shift to natural gas. APPEA Chief Executive Dr Malcolm Roberts said…

Po Valley in proposed major re-organisation

10/10/2017 Posted by Dale

Australian gas producer Po Valley Energy has announced a major re-organisation and asset ownership structure for all of its Italian oil and gas exploration and production interests. Po Valley said the initiative would give PVE shareholders a stake in a much enlarged and more liquid operator to be chaired by renowned UK energy executive, Mr James Parsons. The centrepiece of the proposed restructure will see UK-AIM listed and 54%-owned Po Valley subsidiary, Saffron Energy (LON: SRON) become the three way host vehicle for its own existing Italian energy assets as well as three new Italian assets owned by PVE, and…

Chevron acquires exploration acreage offshore WA

10/10/2017 Posted by Dale

Chevron Australia has announced its affiliate has successfully acquired exploration interests in three offshore blocks located in the Northern Carnarvon Basin off the Western Australia coast. Chevron Australia Managing Director Nigel Hearne said this new acreage strengthens Chevron’s position in Australia’s premier hydrocarbon basin where there is an established network of production infrastructure, including the Chevron-operated Gorgon and Wheatstone Projects. “Offshore Western Australia is a global focus area for Chevron and these new exploration blocks add to our already significant gas position as the largest resource holder and liquefaction owner. “Chevron Australia has discovered around 50 trillion cubic feet of…

Record earnings forecast for resources and energy exports

10/10/2017 Posted by Dale

Australia’s resource and energy export earnings in 2016–17 increased to $204 billion, and are forecast to reach a record $211 billion in 2017–18, before declining to $201 billion in 2018–19. The Resources and Energy Quarterly – September Quarter 2017, released by the Department of Industry, Innovation and Science, shows a 27 per cent increase in earnings in 2016–17. The report shows this increase was largely driven by price increases in iron ore and metallurgical coal, which are Australia’s top two resources and energy commodity exports. Price spikes in metallurgical coal and iron ore in 2016–17 were aided by capacity cuts…

Geoscience Australia to sponsor AGCC 2018

02/10/2017 Posted by Dale

The Australian Geoscience Council Convention, AGCC 2018, has announced that Geoscience Australia will be the patron sponsor of the event, which will be held in Adelaide from Sunday 14th to Thursday 18th of October next year. The Convention, which is expected to attract more than 2,000 delegates from Australia and overseas, will cover all aspects of geoscience, with technical themes on theoretical and applied geoscience, mineral and energy resources, environmental and societal science, geoscience education and communication, and emerging technologies. Geoscience Australia Chief Executive Officer Dr James Johnson said sponsoring the convention was a great opportunity to showcase the importance…

Norway has one trillion reasons to smile

02/10/2017 Posted by Dale

Norway’s sovereign wealth fund has surpassed one trillion US dollars in value for the first time. That’s some achievement for the world’s biggest sovereign wealth fund, universally known as the ‘oil fund’ that only received its first capital injection in 1996 from the Norwegian government as a means of securing wealth for the country’s future generations. As said on the fund’s website: “The Government Pension Fund Global is saving for future generations in Norway. One day the oil will run out, but the return on the fund will continue to benefit the Norwegian population.” The fund has investments in thousands…