Industry

Natural gas is a viable energy option that contributes efficiently to achieve a balance between the environment, social, and economic dimensions of the sustainable development. It reduces carbon intensity and pollution resulting from energy-related activities, supports access to modern energy, improves availability and reliability of supply, and provides competitive and affordable energy,” the Gas Exporting Countries Forum (GECF) Secretary General recently said at the 25th Oil & Gas of Turkmenistan Conference.

Taking part in the annual event via videoconference, HE Yury Sentyurin added that the “yet-to-find resources” would contribute to around 30% of the total production of natural gas worldwide by 2050 and that about 80% of the natural gas production by mid-century will stem from new projects – highlighting the importance of continued upstream investment.

READ MORE

Australia’s oil and gas industry has congratulated Premier Annastacia Pałaszczuk and the Labor Party following their election success in Queensland on Saturday.

APPEA Chief Executive Andrew McConville said the industry makes a significant contribution to the state and has invested more than $70 billion into Queensland’s economy due to the rapid development of the natural gas and LNG industries.

“As a key driver of Queensland’s economy, the oil and gas sector is committed to working with the new government as there are many challenges ahead for economic recovery,” Mr McConville said.

“We have a long and proud history of engaging with the government to grow the sector to where it is today.

READ MORE

Geoscientist employment in Australia remained relatively stable during the third quarter of 2020. Nationally, unemployment increased to 10.6% from 8.6% in the June quarter, while under-employment fell significantly to 12.7% from 17.4% for the period.

Under-employment, in this survey series, is defined as geoscientists being unable to secure more than 25% of their desired workload.

Full time geoscientist employment fell from 69% in the June quarter to 61%.  The proportions of geoscientists in part time and casual employment were little changed from the June quarter survey.

READ MORE

A pioneering hydrogen production plant in final commissioning in Adelaide is set to become a major supplier to industry – with the SA regional city of Whyalla to be the first beneficiary.

The breakthrough will position the new Hydrogen Park South Australia (HyP SA) facility at the Tonsley Innovation District as a major wholesale supplier of renewable hydrogen in Australia.

Project developer Australian Gas Networks (AGN) - part of the Australian Gas Infrastructure Group (AGIG) has completed the installation of the electrolyser, with final construction works due to be

finished shortly.

READ MORE

The Australian Gas Industry Trust (AGIT) has appointed its first Executive Officer, Dr Jen Thompson, to further develop the Trust’s core objectives of promoting gas industry research and education.

“With a strong background in energy, research and science education, Dr Thompson is an ideal person to take AGIT’s activities forward through the energy transition,” said Trust Chairman, Dr Graeme Bethune. “I am delighted to have Jen on board.”

Dr Thompson has more than 20 years working with government and academia and many years’ experience in mining and energy strategy.

READ MORE

LNG import terminals have once again been flagged as a critical component of Australia’s imminent gas supply needs, especially for the State of Victoria.

In its latest report, New EnergyQuest has predicted that gas production offshore Victoria will start to decline ~2023, with Cooper Basin gas following suite around 2026. At this juncture, the southern states could be staring down an energy crisis barrel, with New South Wales’ Narrabri Project insufficient to meet demand should Santos proceed with the now sanctioned gas facility.

EnergyQuest CEO Dr Graeme Bethune said:

READ MORE

A professor of applied mathematics at The University of Western Australia has been elected a Fellow of the American Physical Society, one of the world's largest organisations for scientists.

Professor Snezhana Abarzhi from UWA’s School of Mathematical Sciences is a leading mathematician and physicist whose research focuses on the theoretical analysis of complex systems in relation to plasmas, fluids and materials.

The appointment recognises Professor Abarzhi’s ongoing leadership in the scientific community and her work on the Rayleigh-Taylor instabilities – a mathematical theory that describes the dynamics of the interface separating two materials of different densities.

Fellowship of the American Physical Society (APS) is a distinct honour, signifying recognition from professional peers around the world.

READ MORE

Western Australia’s 2020-21 State Budget reinforces the critical role oil and gas plays in supporting local jobs and the economy, highlighted by the recent challenging months of the COVID-19 pandemic as well as the need for natural gas to generate low emissions baseload power as the economy recovers.

APPEA WA Director Claire Wilkinson said the 2020-21 Budget demonstrated the important contribution the industry makes to the State’s bottom line, with Treasurer Ben Wyatt acknowledging that ongoing operations of the resources industry through the pandemic cushioned the negative economic impacts of COVID-19.

With the Budget also funding a number of new energy technologies, including renewable energy, natural gas will also be crucial to supporting development of these industries through its supply of baseload energy.

READ MORE

According to the research data analyzed and published by StockApps.com, Saudi Aramco’s profits dropped by 50% to $23.2 billion in H1 2020. During H1 2019, net income was $46.9 billion. Q2 2020 saw an even bigger decline at 73%, from $24.7 billion to $6.6 billion.

The company’s performance reflected the devastating condition in oil markets. According to the Organization of the Petroleum Exporting Countries (OPEC), Brent crude was priced at $68.44 at the start of 2020. It had dropped to a low of $20.46 by the end of April 2020.

Saudi Aramco Pays $37.5 Billion Dividends in H1 2020

Aramco’s free cash flow during H1 2020 was $20.6 billion, compared to $38 billion in H1 2019.

READ MORE

APPEA has welcomed approval of the Santos Narrabri Gas Project by the Independent Planning Commission as an “important step towards supporting jobs and economic recovery in NSW”.

APPEA Chief Executive Andrew McConville said the project will unlock natural gas reserves to supply NSW homes, small businesses, major industries and electricity generators with up to half the state’s natural gas needs, bringing substantial economic benefits to Narrabri and the region.

“The Narrabri community and surrounding region will directly benefit with up to 1,300 jobs created during construction and 200 local ongoing jobs.

READ MORE