The collapse in crude oil prices is wiping out much of the US petrochemical competitive advantage while global demand is being slammed by the continuing spread of the coronavirus. Financial markets are seizing up, throwing a wet blanket on new chemical investment and M&A activity, and ratcheting up the risk of a global recession, reports Joseph Chang, Global Editor, ICIS Chemical Business.
“All things being equal, this [crude oil plunge] would tend to diminish competitiveness of...
CO2CRC is bringing together leading Australian energy and resources companies and advisory bodies at Australian Parliament House, Canberra.
The inaugural CO2CRC CCS Policy Forum will be convened to develop a consensus industry view on a practical CCS policy framework that will stimulate CCS project investment and development in Australia.
CO2CRC Chairman, Martin Ferguson AM, said that CO2CRC was pleased to begin this important initiative, leveraging industry leadership to help...
Equnior’s decision to withdraw its plans to drill for oil in the Great Australian Bight has been attributed to increasing carbon-related constraints in Europe.
That is the view of EnergyQuest CEO Dr Graeme Bethune, an energy analysis and strategist, who described the decision as “disappointing for Australia and South Australia”.
“In our view, the decision is likely to have been driven by stronger carbon reduction targets of the European oil...
From a starting point of approximately 1.2 billion cubic feet per day (bcfd) of export capacity in 2016, the US will become the third most important liquid natural gas (LNG) exporting country with a total capacity of 8.9bcfd by the end of 2020, according to data and analytics company GlobalData.
Adrian Lara, Senior Analyst Upstream Americas at GlobalData, comments: “By the year 2025, the additional capacity from new trains in existing plants, as well as from newly constructed plants,...
APPEA has welcomed the announcement by the Victorian Opposition to support lifting the state’s moratorium on conventional onshore natural gas development.
APPEA Chief Executive Andrew McConville said Victorian homes and business would continue to bear the cost burden if the politically-motivated ban on gas development remained in place.
“Natural gas will continue to be a significant source of energy for Victoria for decades ahead, and a sensible position on...
Australian Gas Networks Limited (AGN) has announced that it had been awarded funding of $1.28 million from the Federal Government’s Australian Renewable Energy Agency (ARENA) to support the Australian Hydrogen Centre (AHC) to explore the feasibility of blending hydrogen into natural gas networks.
The AHC has also received funding support from SA’s Department for Energy and Mining and Victoria’s Department of Environment, Land, Water and Planning. Other AHC Founding Members include...
The Australian Government has moved quickly to ensure the safety and integrity of the Northern Endeavour, signing a new agreement with Upstream Production Solutions (UPS), to operate and maintain the vessel.
UPS is a respected and reliable operator in the offshore sector. It will operate the vessel in lighthouse mode, the minimum required for safe operations, with no production and a small crew until a longer-term solution is determined.
Minister for Resources,...
The Australian Government has been advised that the Northern Oil and Gas Australia (NOGA) group of companies has been placed into liquidation.
Minister for Resources, Water and Northern Australia Keith Pitt said this is an unprecedented event in the offshore oil and gas industry in Australia.
“It is regrettable that a commercial solution could not be found to prevent NOGA entering liquidation, but the Government will do everything it needs to do to protect the safety and security of...
The UAE’s first confirmed case of the Wuhan coronavirus -- the first confirmed case in the Middle East – has had a greater impact on oil prices than Libyan oil shutdown or Iran-USA tensions.
That’s according to data analytics company GlobalData, who said of the recent outbreak and its influence on markets.
“The Gulf region, and Dubai in particular, is a major travel and business hub between Asia and Europe. Its links with China have been an important part of the...
A Perth geoscientist who has pioneered taking science out of the classroom into a hands-on, in-the-field experience – particularly for remote area schools – has been praised for her nomination among Saturday night’s “Australian of the Year” awards in Canberra.
Ms Suzy Urbaniak was WA’s nominee in the “Australian of the Year - Local Heroes” award category.
The ‘Local Hero’ award acknowledges extraordinary contributions made by...