Industry

APPEA: Let’s get decommissioning right

13/04/2021 Posted by Dale

The nation’s peak oil and gas industry body has said the release by the Australian government of a suite of measures aimed at enhancing and strengthening Australia’s offshore oil and gas decommissioning framework is a step in the right direction.

APPEA Chief Executive Andrew McConville said industry has worked constructively with the Government to develop an appropriate, forward-looking decommissioning framework and will look at what is proposed closely.

“The offshore oil and gas industry has been a key driver of Australia’s economy and energy security for decades and has plenty of life left in it,” Mr McConville said.

India poised for one third of all oil and gas project starts in APAC

06/04/2021 Posted by Dale

India is set to commence 647 oil and gas projects from 2021 to 2025, accounting for 33% of the total upcoming project starts in the Asia-Pacific (APAC) region, according to GlobalData.

The data and analytics company’s report, ‘Asia Pacific Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, reveals that out of 647 projects to commence operations by 2025, upstream projects would be 80, midstream would be 123, refinery at 85, and petrochemicals would be the highest with 359 projects.

Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “India is one of the largest consumers and importers of oil and gas in the world due to its economic growth. T

Oil and gas industry a “key plank” to COVID-19 economic recovery and emission reductions

30/03/2021 Posted by Dale

Natural gas and the jobs it can create has the potential to be an economic and environmental strength for Australia but only with the right regulatory environment and if the misinformation stops, APPEA Chief Executive Andrew McConville has warned.

Using his keynote address at the Australian Domestic Gas Outlook conference, Mr McConville said there was an enormous opportunity to create thousands of jobs and help Australia reach zero net emissions by 2050.

“Sadly, vested interests have spread misinformation on gas and it is time to set the record straight because the fact is demand in South East Asia for gas is forecast to double by 2040 and we need to able to capitalise on that,” Mr McConville said.

Qatar looks beyond World Cup 2022 to gas investment boom

30/03/2021 Posted by Dale

The recent LNG supply agreement signed between Qatar Petroleum, Singapore-based LNT Marine, the American Bureau of Shipping and Shanghai Waigaoqiao Shipbuilding is “the latest sign of a new surge in gas investment that is set to shape the small Gulf state beyond the football World Cup in 202.

That’s according to GlobalData, who said over the past 10 years Qatar’s investment focus had been on the development of infrastructure for the FIFA football World Cup in 2022 to deliver stadiums and develop airports, rail and metro lines and leisure and hospitality facilities.

“The World Cup has underpinned around $13.

APPEA congratulates Premier Mark McGowan

16/03/2021 Posted by Dale

Australia’s oil and gas industry has congratulated Premier Mark McGowan and WA Labor on its reelection in Western Australia on Saturday.

Australian Petroleum Production & Exploration Association (APPEA) WA State Director Claire Wilkinson said the industry has worked collaboratively with the McGowan Government since 2017 and intends to continue that positive relationship.

“The Premier’s LNG Jobs Taskforce and the Jobs and Skills website are clear examples of what can be achieved when industry and Government work together: more local jobs and more economic opportunities.”

“When COVID hit, Premier McGowan and his Government acted swiftly to keep the...

Bentley Systems Enters into US$1 Billion Agreement to Acquire Seequent

16/03/2021 Posted by Dale

Infrastructure engineering software company Bentley Systems has entered into an agreement with investors, led by Accel-KKR, to acquire software for geological and modelling company Seequent for US$900 million in cash, plus 3,141,361 BSY Class B shares.

The acquisition is subject to customary closing conditions and regulatory approvals, including New Zealand Overseas Investment Act consent as well as clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

Upon closing, Seequent will operate as a stand-alone Bentley subsidiary, with Seequent’s current Chief Operating Officer Graham Grant, succeeding its retiring CEO Shaun Maloney, reporting to Bentley’s Chief Product Officer Nicholas Cumins.

Seequent,...

Resources technology roadmap builds Australia’s competitive advantage

09/03/2021 Posted by Dale

APPEA has welcomed the launch of the Resources Technology & Critical Minerals Processing National Manufacturing roadmap as a key priority under the Federal Government’s $1.5 billion Modern Manufacturing Strategy.

APPEA’s Chief Executive, Andrew McConville, a member of the industry-led taskforce that guided the development of the Resources Technology & Critical Minerals Processing roadmap, commended the Government’s consultation with industry and action to build Australia’s advanced manufacturing capability in resources technology.

“The Resources Technology & Critical Minerals Processing National Manufacturing roadmap recognises and builds on Australia’s world-class expertise and competitive advantage in the resources and energy sectors.”

“Australia has world-class resources, such as oil and gas and critical minerals which drive the modern global economy.

Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity in Q4 2020

02/03/2021 Posted by Dale

Led by PPG Industries’ $1.52bn acquisition of Tikkurila, Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 73 cross border deals worth $7.58bn were announced for the region during Q4 2020, against the last four-quarter average of 59 deals.

Of all the deal types, M&A saw most activity in Q4 2020 with 69, representing an 94.5% share for the region.

In second place was private equity with four deals capturing a 5.

GECF lecture lights up natural gas for its “vital role in energy transition”

02/03/2021 Posted by Dale

Natural gas has a very important role to play in the energy transition and in meeting the world’s climate goals, the Secretary General of the International Energy Forum, HE Joseph McMonigle, said.

Speaking at the inaugural GECF Gas Lecture of 2021, entitled ‘The Role of Gas in Clean, Reliable, and Sustainable Growth’, HE McMonigle said that the success of the energy transition rests “on the use of natural gas technologies and their capacity to accelerate fuel-switching and create synergies to integrate renewables, green gas, hydrogen, and other carbon dioxide solutions.

“Obviously, this does not come without challenges...

US Gulf Coast storm outages rise, send ripples round global markets

23/02/2021 Posted by Dale

Will Beacham, of ICIS Chemical Business, says the US polar storm shut down 90% of US polypropylene (PP) capacity, 67% of ethylene and devastated other important products, sending ripples around global chemical markets and prices soaring.

More chemical plants and refineries across the Gulf Coast region have been hit by prolonged power and feedstock outages caused by freezing weather, snow and ice which have also halted logistics networks. More bad weather, forecast for later in the week, may prolong the disruption.

So far, ICIS has reported more than 60 plant outages as a result of the storm, with analysis using data from the ICIS Supply & Demand database showing that a wide swathe of the Gulf petrochemical sector has now been severely impacted.