Latest News

Santos Announces Financing of Darwin LNG Life Extension Works

23/10/2024 Posted by Dale

Santos has announced the Darwin LNG joint venture -operated by Santos and in which Santos holds a 43.43 per cent interest -has achieved financial close of new syndicated bank loan facilities totalling US$800 million.

The facilities comprise a US$350 million 7-year, partially amortising loan maturing in 2031 and a US$450 million, 12-year partially amortising loan maturing in 2036. The facilities are senior-secured by Darwin LNG Pty Ltd. The shareholders in Darwin LNG Pty Ltd, including Santos, have granted security over their shares in that company.

The facilities received strong support from existing and new syndicated banking relationships and the proceeds will be used to fund the DLNG life extension works.

Woodside to Delist from London Stock Exchange

22/10/2024 Posted by Dale

Woodside has reviewed its current listing structure and decided to delist from the London StockExchange (LSE).

Woodside shares represented by depositary interests account for approximately 1%of Woodside’s issued share capital.

Trading volumes of Woodside shares on the LSE were low and delisting from the LSE will reduce Woodside’s administration costs, the company said.

Woodside has applied to the UK Financial Conduct Authority (FCA) and the LSE to cancel theadmission of Woodside shares to listing in the International Commercial Companies SecondaryListing category of the Official List of the FCA and trading under the ticker “WDS” on the Main Marketfor listed securities of the LSE.

Shearwater Secures Towed Streamer Projects in Asia Pacific

22/10/2024 Posted by Dale

Shearwate has announced the award of two consecutive towed streamer survey projects in the Asia Pacific Region with a combined duration of three months.

The Shearwater multi-sensor vessel Geo Coral is allocated to the projects which commences early in Q4 2024.

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software.

These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources.

PESA WA Technical Luncheon: Unlocking New Gas Potential in Queensland’s Taroom Trough

21/10/2024 Posted by Dale

By Xipo Zhang

On Thursday, 17th October 2024, PESA WA hosted a well-attended technical luncheon at the Parmelia Hilton in Perth. Over 50 industry professionals gathered to hear Neil Young, Managing Director of Elixir Energy, deliver an insightful presentation titled “A New Play is Being Proven in Queensland’s Taroom Trough”.

Neil Young’s presentation focused on the Grandis Project, Elixir Energy’s groundbreaking initiative in the Taroom Trough — a promising unconventional gas,play. Located in the Southern Bowen Basin, the Taroom Trough holds immense potential to supply gas to both East Coast and international markets.

Strike Energy hits a few Chords Drilling Eregulla Deep-1 in the Perth Basin

21/10/2024 Posted by Dale

Strike Energy Limited (Strike - ASX: STX) as operator of the EP469/L25 Joint Venture, whichincludes the West Erregulla gas field, has completed the flow testing program at the Erregulla Deep-1 (ED-1) discovery well in EP469 with "excellent results".ED-1, which is the deepest well ever drilled onshore Australia, flow tested the Kingia gas discovery individually and the High Cliff gas discovery via a comingled test.ED-1, had 24m of perforations across the Kingia from 4,805m TVDSS and 12m of perforationsacross the High Cliff from 4,850m TVDSS.

Wärtsilä “supports South Australia’s energy transition with new 150 MW / 300 MWh energy storage system for Amp Energy”

20/10/2024 Posted by Dale

Technology group Wärtsilä has been selected to deliver its second major energy storage project in South Australia. Located in Bungama, stage 1 of this multi-stage project will be supplied to Amp Energy, a global energy transition platform.

The standalone battery energy storage system (BESS) will have a 150 MW / 300 MWh capacity and will support energy security and reliability as renewable energy supply increases, pacing South Australia’s ongoing energy transition. The order was booked in September 2024.

The project will be built with Wärtsilä’s Quantum High Energy storage technology, recognised for its "advanced safety features and enhanced energy density".

Middle East Tensions Puts Energy Market Issues in the Crosshairs

20/10/2024 Posted by Dale

Rystad Energy’s market update from Middle East Research Director, Aditya Saraswat:

“Tensions are persisting in the Middle East and the humanitarian toll is climbing.Energy market fundamentals have been largely unaffected to date, but this could change at a moment’s notice.

In a widespread regional war scenario, Iran and Israel's conflict could severely impact gas exports and lead to delays in oil development projects.

Attacks on key facilities may threaten nearly 1.4 million bpd of Iranian production, causing significant supply disruptions.

A full-blown war could choke the Strait of Hormuz, risking up to 12 million bpd of oil, driving prices up sharply.

Total EnergiesSells its Fuel Distribution Activities in Brazil to SIM Distribuidora

19/10/2024 Posted by Dale

TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company. The transaction involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.

SIM Distribuidora, one of the recognized players of the fuel distribution business in Brazil, belongs to Grupo Argenta, which has more than 500 service stations, lubricants and aviation activities.

This sale reflects the selective strategy of TotalEnergies in Marketing & Services in the retail network business focussed on core geographies with significant market share positions. The Company will retain its lubricants blending and distribution activities in Brazil.

The acquisition remains subject to authorization by the relevant authorities.

Are Electric Vehicles Really Disruptors in the Australian Petroleum Markets?

19/10/2024 Posted by Dale

BY Max Williamson FCA, FGov, FFin, FCPA

MOL and Turkish Petroleum Team up for Exploration

18/10/2024 Posted by Dale

MOL Group has signed a Memorandum of Understanding with Turkish Petroleum Corporation in Istanbul to cooperate as strategic partners in the exploration and production of hydrocarbons. The companies agreed to elevate their cooperation to a new level after successful international joint projects to potential partnership in exploration in Türkiye and further potential projects in other regions.Under the Memorandum of Understanding (MoU), MOL Group and Turkish Petroleum have expressed their intention to jointly provide their experience, technical and commercial knowledge, advanced techniques and financial resources.