The voice of the oil and gas industry today labelled a new levy of $0.48 per barrel on all offshore oil producers as over the top and extreme.
Industry
Backing resources should be high on new Cabinet’s agenda, says APPEA
The latest Resources and Energy Quarterly shows that it is the resources sector, including the Australian oil and gas industry, continuing to drive the nation’s economy.
Voting down ARENA regulation “short-sighted and disappointing”
APPEA says moves by some politicians to vote down regulations expanding the investment remit of ARENA (Australian Renewable Energy Agency) are short-sighted and will slow Australia’s march to reach net-zero emissions targets.
Mammoet-Haisla J.V. successfully reaches next milestone at LNG Canada
The Mammoet-Haisla Joint Venture has completed the pile handing scope for the LNG Canada project through JGC-Fluor Joint Venture in Kitimat, British Columbia.
Mammoet-Haisla said it had provided offloading services for incoming pipe piles throughout the pandemic, completing the scope in March.
Former AMMA President recognised with Queen’s Birthday Honour
Australian Resources and Energy Group AMMA has congratulated its former longstanding President Richard Owen for being awarded a Medal of the Order of Australia (OAM) for his services to business in the Queen’s Birthday Honours List.
European oil majors near pre-pandemic income levels despite weakened revenues
The European oil majors (Shell, BP, TotalEnergies, Eni and Repsol) benefitted dramatically from elevated oil and gas prices in the first quarter of 2021 as income returned to near pre-pandemic levels.
That’s according to data and analytics company GlobalData, who said the European oil majors saw large losses in 2020 as long-term oil and gas price forecasts were revised lower resulting in multi-billion-dollar asset impairments. However, far rosier dispositions have returned in 2021.
Australia’s low-carbon hydrogen trade could be worth up to US$90 billion in 2050
Low-carbon hydrogen could become a US$50 billion to US$90 billion export industry for Australia in 2050, says Wood Mackenzie.
“Science ignored for political gain”
APPEA says a Parliamentary committee led by the Greens has ignored good science in an effort to further ostracise the gas industry for political gain.
APPEA Chief Executive Andrew McConville said the recommendations made by the Environment and Communications references committee on the impact of seismic testing on fisheries and the marine environment fly in the face of science and reason.
Power mix transitions present diverging paths for GCC countries
Gas demand for power generation consumed above 13bcfd in 2020, representing almost 50% of the total demand in the Gulf Cooperation Council countries. It is expected that this demand will increase by 14% by 2029.
That’s according to data and analytics company GlobalData, who said the transition from oil to gas for less carbon-intensive power generation has begun in the GCC region. In Saudi Arabia and Kuwait, gas demand for power is set to increase by 15% and 19% respectively by 2030.
“The market is working” as another Gas Supply Agreement reached
The voice of Australia’s oil and gas industry said Gas Supply Agreements between Queensland-based gas producer Westside and Alinta Energy and CleanCo Queensland is further proof that the industry continues to deliver for the Australian economy.
Under the agreement with Alinta Energy, Westside and its joint venture partner, Mitsui E&P Australia Pty Ltd, will deliver a total of 3.65 PJ in calendar years 2022 and 2023.
CleanCo Queensland will purchase a total of 2.19PJ of gas over 2023 and 2024 to fuel Swanbank E, CleanCo’s highly efficient 385 MW gas-fired power station near Ipswich in south-east Queensland.
APPEA Chief Executive Andrew McConville said the agreement shows the market is working.