From Reuters BRISBANE (Reuters) – Imports of liquefied natural gas (LNG) to Australia – the world’s biggest LNG exporter – now appear “highly realistic” as the country struggles to fill a looming gas shortage, U.S. energy giant Exxon Mobil Corp said on Thursday. The assessment will add to the sense of urgency in the industry, which experts say needs at
From Bloomberg In a corner of outback Australia, a drilling crew will soon try tapping shale rocks that could hold more than three times the world’s annual consumption of natural gas. Origin Energy Ltd. plans to drill two wells later this year in the Northern Territory’s Beetaloo Basin, after the local government ended a three-year ban on fracking — the practice
From Reuters Norway’s Equinor SA on Tuesday said it plans to explore for oil in deep waters off the coast of South Australia in late 2020 and released a draft environmental assessment for the project to head off community protests. Equinor, formerly known as Statoil, took full control of two permits in the Great Australian Bight, a body of water
ExxonMobil (stock ticker: XOM) made a final investment decision to develop its West Barracouta gas field in Bass Strait. The project: Brings new gas supplies to the Australian domestic market. Is part of Exxon’s continuing investment in the Gippsland Basin. It’s located in the VIC/L1 block in offshore Victoria. The Gippsland Basin Joint Venture continues to supply about 40 percent
From Reuters Australia overtook Qatar as the world’s largest exporter of liquefied natural gas (LNG) for the first time in November, data from Refinitiv Eikon showed on Monday. The surge in Australian exports follows the start up of a number of export projects in the country over the past three years, most recently the Ichthys project offshore its northern coast.
From Reuters East Timor has agreed to buy Royal Dutch Shell’s stake in the Greater Sunrise natural gas fields off the northern coast of Australia for $300 million, the government and Shell Australia said on Wednesday. The agreement for Shell’s 26.56 percent stake in the project will allow the tiny nation to push for development of the field. The site,
From E&E News The United States is rapidly increasing its exports of liquefied natural gas. But it isn’t the only nation doing so or that has plans to do so. The addition of the Cove Point LNG plant in Maryland brings the number of major LNG export centers in the U.S. outside Alaska to two. Sabine Pass in Louisiana became
From Reuters Australian authorities have charged the former local bosses of Citigroup Inc and Deutsche Bank AG with “criminal cartel offences” over a $2.3 billion stock issue, one of the country’s biggest cases of alleged white-collar crime. The tally of names disclosed on Tuesday showed the ambition of newly empowered antitrust regulator, the Australian Competition and Consumer Commission (ACCC), which
Contingent of heavy industrial users awaits proposed plant’s capacity of more than 100 petajoules a year – LNG import plant could trigger new gas-fired power plant at site From Australia Financial Review The key Japanese backer of Andrew Forrest’s proposed east coast gas import terminal has declared that it can source the world’s cheapest LNG for the venture, helping ensure gas buyers
Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt. Vermilion acquired all of the issued and outstanding common shares of Spartan on the basis of 0.1476 of a Vermilion share for each Spartan common
Elk Petroleum Limited (ticker: ELK) has commenced production on its Grieve CO2 EOR Project. The company said it expects initial gross oil production of 1,100-1,200 BOPD. CEO Brad Lingo commented, “I’m exceedingly pleased to announce the start-up of oil production from the Grieve CO2 EOR project. Reaching this point has been the result of the commitment and dedication of the
Australia’s Elk Petroleum Limited (ticker: ELK) recently released its half-year results and guidance update. The company reported a 44% increase in share price to A$0.095 (March 2018) – this is up from A$0.066 (June 2017). The company reported production of 972,498 BOE, with 1P reserves of 47.5 MMBOE and 2P reserves of 84.2 MMBOE. Elk’s operations are all in the
