Industry

In the 1970s, Americans faced long lines at gasoline pumps. Today, the United States is a net oil and petroleum exporter. How did this happen? Two words: technology and innovation.

“Modern technology means more oil and gas can be extracted from the same wells. It’s called hydraulic fracturing, or fracking,” says ShareAmerica, an organisation that informs global audiences about life in the US and offers engaging material on a number of topics.

“Frackers pump water and chemicals down deep wells to fracture rocks and tap resources that had been thought irretrievable.

READ MORE

The 2019 winner of APPEA’s prestigious Tony Noon Memorial Scholarship is Elliot Foley, a PhD candidate from James Cook University based in Townsville.

Mr Foley – who is studying geoscience – was awarded the $3,000 scholarship for his research on sedimentary basins and petroleum prospectivity in north-eastern Queensland, focusing on the Carpentaria Basin.

The annual Tony Noon Memorial Scholarship provides a one-off grant for honours, Masters or PhD students from a range of disciplines, including geology, safety, engineering, economics, law or environmental management.

APPEA Chief Executive Andrew McConville applauded the high-achieving PhD student, who impressed judges with his ground-breaking research relating to Australia’s oil and gas industry.

READ MORE

Following the recent news that Saudi Arabia’s national oil company has completed the initial public offering (IPO) of 3 billion shares — raising $25.6bn — international analysts have reacted saying the listing was not a complete success.

Richard Thompson, an Editorial Director at GlobalData, commented:

“Aramco’s IPO has several important objectives for the company and for Saudi Arabia. Most obvious is that it has raised $25.6bn in equity for the company that will be immediately reinvested into strategic projects.

READ MORE

Queensland natural gas is fuelling Queensland energy and Queensland manufacturing jobs in a national first.

Senex Energy’s Project Atlas has delivered its first gas to its first customer, state-owned power generator CleanCo, and will follow within weeks to building products maker CSR, which has three south-east Queensland manufacturing plants.

Mines and Energy Minister Dr Anthony Lynham said the energy and resources milestone was underpinning manufacturing jobs and businesses and the state’s reliable, lower-cost electricity supply.

READ MORE

Petrosys has announced the acquisition of GLOBE Claritas™ seismic processing software from GNS Science in New Zealand.

GLOBE Claritas said the backing of Petrosys “will open up a new phase of growth for GLOBE Claritas™, allowing stronger penetration of geographical markets and providing access to a broader shared global client list and geographic outreach focused on the resources industry.

“Our corporate ethos of allowing acquired companies to retain their individual brand strengths and culture will ensure that GLOBE Claritas™ remains a respected, trusted, independent and responsive provider for seismic processing and data management software.

READ MORE

As delegates gather in Madrid for the 25th annual United Nations Climate Change Conference, the latest government estimate released with the June 2019 Quarterly Update of Australia’s National Greenhouse Gas Inventory confirms the importance of Australia’s liquefied natural gas (LNG) exports for reducing global greenhouse gas emissions.

“It’s important to recognise the global appetite for energy is growing, with more than 1.1 billion people lacking access to electricity. Substituting LNG for more emissions-intensive fuels allows importing countries to satisfy growing demand while reducing emissions,” said APPEA Chief Executive Andrew McConville.

“Australia’s LNG projects will deliver decades of economic growth, jobs and exports as well as strong regional and global environmental benefits.

READ MORE

Australia’s oil and gas industry has welcomed the announcement by Prime Minister Scott Morrison to deliver new deregulation measures for Australian businesses.

Mr Morrison announced the development of a digital environmental approvals process and database aimed at reducing the current approvals process by between six and 18 months.

APPEA Chief Executive Andrew McConville said the industry welcomed the announcement, saying the measures will reduce red tape and unnecessary regulation, unlocking investment opportunities in Australia.

“The announcement represents an important step forward to improve and modernise the environmental approvals framework, which is currently is time consuming, costly and complex,” Mr McConville said.

READ MORE

The United States has initiated formal withdrawal from the Paris Agreement on climate change, U.S. Secretary of State Michael R. Pompeo announced on November 4, vowing that the country would continue to reduce emissions without compromising economic growth.

This was followed by a US Department of State statement defending the Trump Administration’s position and the The United States as a “world leader in reducing emissions”.

The US Department of State said: “Between 2005 and 2017, US net greenhouse gas emissions dropped 13 percent even as the US economy grew by more than 19 percent, US figures show.

READ MORE

A new $8 million pipeline — providing surety of long-term natural gas supply to more than 80,000 North Brisbane customers — was commissioned recently.

The 1.84km gas pipeline includes approximately 930 metres running under the Brisbane River to duplicate the river crossing from Murarrie to Pinkenba.

The “delicate and complex project” has been completed by Australian Gas Networks (AGN), part of the Australian Gas Infrastructure Group (AGIG).

AGIG’s Chief Customer Officer, Mr Andrew Staniford, said final overall commissioning of the gas pipeline went well after weeks of testing.

“We are pleased to have completed this project which has been a most successful outcome by a dedicated and professional team at the APA Group,” Mr Staniford said.

READ MORE

Global demand for natural gas will increase over the next 20 years, providing a major economic opportunity for Australia, according to the International Energy Agency (IEA).

APPEA Chief Executive Andrew McConville said the IEA’s World Energy Outlook highlighted the reality that the growing natural gas industry was essential for a cleaner energy future.

“Demand for natural gas is expected to increase 36 per cent by 2040, with gas providing a quarter of global energy demand, the IEA’s Stated Policies Scenario* shows,” Mr McConville said. “Gas will become the second largest source of global energy after oil.”

Liquefied natural gas (LNG) exports will overtake pipeline gas as the main form of long-distance trading, accounting for more than 57 per cent of inter-regional trade by 2040, the IEA report said.

READ MORE