News

  • Chevron and AATI granted FAA waiver for UAS surveillance

    NEWS

    Chevron granted waiver for UAS oil and gas pipeline surveillance

    Chevron Pipe Line Company (CPL), a subsidiary of Chevron Corporation, in collaboration with American Aerospace Technologies, Inc. (AATI), has achieved a significant milestone in unmanned aircraft surveillance. ... more

  • TotalEnergies completes sale of its Canadian assets to Suncor

    NEWS

    Energy giants strengthen partnership to drive low-carbon energy

    A new agreement between TotalEnergies and China Petroleum and Chemical Corporation (SINOPEC) will create a strengthened partnership aimed at deepening collaboration, especially in the realm of low-carbon energ... more

  • Shell announces strong Q1 results and $3.5b share buyback program

    NEWS

    Shell announces strong Q1 results and $3.5b share buyback program

    Shell plc Chief Executive Officer, Wael Sawan has reported the company's strong operational and financial performance in the first quarter of 2024, with earnings of $7.7 billion, reflecting strong operational p... more

  • ADNOC, G42, and Presight AI Holding PLC announce new shareholding structure for AIQ

    NEWS

    New shareholding structure for AIQ to accelerate AI in sector

    Abu Dhabi National Oil Company (ADNOC), in collaboration with G42 and Presight AI Holding PLC, has unveiled a new shareholding structure for AIQ, provider of AI solutions in the energy sector. Under the agre... more

  • Chevron granted waiver for UAS oil and gas pipeline surveillance
    08 May, 2024
  • Energy giants strengthen partnership to drive low-carbon energy
    08 May, 2024
  • Shell announces strong Q1 results and $3.5b share buyback program
    08 May, 2024
  • New shareholding structure for AIQ to accelerate AI in sector
    08 May, 2024
Peter Kos appointed to boost gas role in NSW and Victoria

Peter Kos appointed to boost gas role in NSW and Victoria

08 May, 2024
In a bid to bolster the role of natural gas in the country's cleaner energy future, Australia's oil and gas industry has appointed a new Director — Peter Kos — for Victoria and New South Wales. Peter Kos, a seasoned public affairs professional with over 30 years of experience, has been selected to spearhead efforts in securing a reliable gas supply for the two states amidst their current regulatory challenges. The appointment comes at a crucial juncture as Australia charts its path towards net zero emissions. Kos's role will be pivotal in navigating the complex landscape of regulatory uncertainties and…
Global upstream M&A deals expected to surge to $150b in 2024

Global upstream M&A deals expected to surge to $150b in 2024

07 May, 2024
After witnessing the biggest first quarter for global upstream dealmaking in five years, the industry is poised for further growth, with an estimated $150 billion of merger and acquisition (M&A) deals anticipated in the remainder of 2024. Fuelled by consolidation in the US shale patch, global M&A deal value has already surpassed $64 billion this year, representing the strongest first-quarter performance since 2019 and a 145 per cent increase from the first quarter of 2023. North America led the way in deal value, totalling $54 billion in the first quarter, accounting for about 83 per cent of the worldwide total.…
MidOcean Energy acquires SK's stake in Peru LNG

MidOcean Energy acquires SK’s stake in Peru LNG

03 May, 2024
MidOcean Energy, managed by EIG, has completed its acquisition of SK earthon's 20 per cent interest in Peru LNG (PLNG) — the first LNG export facility in South America. This strategic move strengthens MidOcean's position in the global LNG market. PLNG's assets include a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a 408 km-long pipeline, two 130,000 m3 storage tanks, a marine terminal, and a truck loading facility. Located in Pampa Melchorita, PLNG is the only LNG export facility in South America, providing gas and LNG to customers in Peru. De la Rey Venter, MidOcean Energy’s CEO, highlighted…
Renewables drive down wholesale prices

Gas prices up, but renewables drive down wholesale prices

24 Apr, 2024
In the first quarter of 2024, Australia's shift towards renewable energy generation continued to impact the country's electricity landscape, with renewable sources contributing 39 per cent to the grid, up from 37.4 per cent in the same period last year. This growth in renewables played a significant role in reducing wholesale spot prices by 8 per cent compared to Q1 2023, despite high temperatures leading to increased electricity demand. The Australian Energy Market Operator's (AEMO) Quarterly Energy Dynamics report highlighted the impact of this shift, with wholesale spot prices on the East Coast averaging $76 per megawatt-hour (MWh), down from…
LNG remains top choice for lower-carbon shipping

LNG remains top choice for lower-carbon shipping

22 Apr, 2024
Liquefied natural gas (LNG) continues to be the fuel of choice for lower-carbon shipping, according to analysis by Rystad Energy, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines. The price competitiveness, abundant supply, and well-developed infrastructure of LNG give it an advantage over alternatives, especially in bunkering at ports. Globally, more than 2,400 vessels are equipped to operate on LNG, with another 1,000 vessels ordered but yet to be delivered. This includes a significant number of car carriers, with over 75 per cent of new car carrier orders in 2023 being for dual-fuel LNG…
US reimposes Venezuela oil sanctions with door open for special licenses

US reimposes Venezuela oil sanctions with door open for special licences

22 Apr, 2024
The Biden Administration has announced the reimposition of sanctions on the oil industry in Venezuela, maintaining its stance that without a fair election, there will be no extension of the relief. This move raises questions about whether the "maximum pressure" campaign is back or if there is room for a middle ground. The decision comes as Venezuela has not fully met the commitments made under the Barbados Agreement, which aimed to lay the groundwork for a free, fair, and internationally monitored presidential election in 2024. The US Department of State stated that in the last six months, concerns have grown…
Woodside reports successful reserves update as a result of merger with BHP

Woodside’s Q1 2024 report highlights production and revenue challenges

22 Apr, 2024
Woodside Energy recently released its financial report for the first quarter of 2024, revealing a 7 per cent decrease in quarterly production and a 12 per cent drop in revenue compared to the previous quarter. The company reported a quarterly production of 44.9 million barrels of oil equivalent (MMboe), averaging 494 thousand barrels of oil equivalent per day (Mboe/day). This decline was attributed to lower production at several key assets, including Bass Strait, Pyrenees, and Pluto, partially offset by increased production at the Mad Dog Phase 2 project. Woodside's revenue for Q1 2024 was reported at US$2.969 billion, down from…