Industry

United States crude oil production is showing signs of coming back to life, according to data and analytics company, GlobalData.

This follows the release of data by the Energy Information Administration (EIA) tracking weekly petroleum activity supplemented with information on refined products supplied and weekly crude oil stocks.

“Production cuts in US shale over the last two months have started to have an impact on the US oil market. Refinery utilization is still lower than normal but it seems stable, seeing a small increase over last month.

READ MORE

The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but are deep enough to create a monthly deficit starting from June 2020 and continuing uninterrupted until at least the end of next year, a Rystad Energy analysis says.

The energy research and business intelligent company said the oversupply, which sent WTI oil prices into the negative earlier this year, is a thing of the past “as long as OPEC+ compliance stays strong and the oil demand recovery trajectory isn’t radically altered.

READ MORE

The decision by the NSW Labor Party to vote with the Greens and a slew of independents in support of a gas moratorium was a vote against NSW jobs and for higher gas and electricity prices for NSW customers, APPEA has said in reaction to the latest political development.

APPEA Chief Executive, Andrew McConville said that the Bill moved by MLC Justin Field would, if it ever were implemented, condemn NSW to higher gas prices and a slower economic recovery, particularly in regions like Narrabri that are already struggling after years of drought and the challenges posed by the COVID-19 pandemic.

READ MORE

COVID-19, and the subsequent lockdown that quarantined the popular PESA lunches, has had a creative spin-off that has proven to be spectacularly well-subscribed with dozens of Australian and overseas members gravitating to the recently introduced PESA webinars.

The initiative, inspired by WA President Helen Debenham, has attracted regular weekly participants numbering 100-160 members and has proven to be so popular that the initiative has been flagged as a regular activity in the post-COVID era.

Helen said the idea behind the webinars came about as motivation to give paid up members meaningful interaction after the world went into lockdown and regular events were frozen.

READ MORE

Upstream Production Solutions has announced the appointment of Matthew Campbell to the role of National HSSEQ Manager.

Prior to joining Upstream PS, Matthew worked for CNOOC in Houston managing HSE across deep water projects in the Americas. Prior to this, he has worked for Shell in various locations around the world including the Netherlands, United Kingdom, Norway, Africa and Middle East.

In Australia and New Zealand, he was the Safety Manager for Shell Australia supporting Prelude, Queensland Gas Company (QGC), non-operated ventures (Gorgon, Browse, Arrow and North West Shelf) and Shell NZ projects).

Matthew will oversee Upstream PS national Health, Safety, Security, Environment and Quality (HSSEQ) people, systems and processes, as well as our regulatory relationships.

READ MORE

Beach Energy has applied for a ‘consent to discharge trace amounts of harmful substances’ from the deck drains of a mobile offshore drilling unit as part of an exploration drilling campaign in the Canterbury Basin, off New Zealand.

This was revealed by the Environmental Protection Authority of New Zealand, which said residual amounts of harmful substances were sometimes found in deck drainage after the clean-up of minor spills.

Public submissions on the application will be open until Friday, 6 July 2020. Thereafter, if any parties request to be heard, a public hearing will be held within 40 working days.

Beach Energy has applied for the period of the consent to last up until 7 November 2029.

READ MORE

The recent release by the Minister for Energy and Emissions Reduction Angus Taylor of the Federal Government’s Technology Investment Roadmap discussion paper has been endorsed as “an important step to achieving a lower carbon economy”.

Welcoming the release of the discussion paper, APPEA Chief Executive Andrew McConville agreed that the path to a lower carbon future must include investing in energy technology at home and abroad.

“The discussion paper clearly identifies the need for a system-wide appreciation of our energy requirements and that there are different roads we can take to get there.

READ MORE

NOPSEMA is assessing a decommissioning plan submitted by Woodside for subsea infrastructure no longer required for production from the Echo Yodel field located in the Dampier Sub-Basin in permit WA-23-L.

The plan, which was was submitted on April 17, make provision for Woodside to permanently plug for abandonment purposes the Yodel-3 and Yodel-4 production wells and the Capella 1 exploration well via the deployment of a mobile offshore drilling unit.

Plugging for the three wells is expected to take about 20 to 60 days per well to.

READ MORE

Australian geoscientists reported a deterioration in employment in the first three months of 2020. Fears, however, that the coronavirus pandemic would have a deep and dramatic impact on employment, have not as yet materialised.

Unemployment amongst Australia’s geoscientists increased to 10.0% at the end of the March 2020 quarter compared to 7.3% at the end of the 2019 December quarter. Under-employment amongst self-employed geoscientists increased from 13.1% to 18.1% for the same period.

Australian geoscientists reported a deterioration in employment in the first three months of 2020.

READ MORE

APPEA has welcomed the announcement by Queensland Resources Minister Anthony Lynham of a range of measures to support exploration as the industry confronts challenges associated with the COVID-19 pandemic.

These measures announced will provide for relief and flexibility to support explorers.  It also encourages innovative exploration activities through a direct grant process.

The package provides companies with the ability to continue to operate now, and respond quickly when the health crisis abates, and Australia’s economy recovers.

APPEA Chief Executive Andrew McConville said this package would particularly help smaller exploration companies that continue to play a critical role in the identification and development of new energy resources.

READ MORE