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Exploration & Production

Exmouth Plateau discovery

Chevron and Royal Dutch Shell have discovered more gas off the coast of Western Australia, Chevron announced on Thursday.

15 December 2011
Exploration & Production

New Zealand Oil & Gas buys stake in the Cosmos Concession offshore Tunisia

New Zealand Oil & Gas has bought a 40% stake in the Cosmos Concession offshore Tunisia, the company said in a statement on Wednesday.

14 December 2011
Exploration & Production

Australia’s shale potential untouched

Australia’s vast shale gas resources so far remain largely untouched, in part because of high costs. But with a couple of recent investments in the sector, there is optimism that output will begin in the next five years.

13 December 2011
LNG

Sinopec to raise stake in Australia’s APLNG to 25%

China’s state-owned Sinopec announced on Monday that it will boost its stake in the Australia Pacific LNG (APLNG) project, a joint venture controlled by ConocoPhillips and Origin Energy, to 25%.

12 December 2011
LNG

Gas storage is the missing link in Australian CBM-LNG projects

Eastern Australia’s coal-bed methane output, LNG exports and gas-fired power generation are all rising quickly. So far, however, investors appear to be ignoring the growing value of gas storage capacity.

8 December 2011
Companies & Finance

Near-term credit crunch awaits Australian LNG producers

Australia is undoubtedly set to become the world’s leading LNG exporter in the next decade, with around 60 million tons of LNG and $150 billion worth of sanctioned projects in the pipeline.

7 December 2011
LNG

Woodside’s Browse LNG suffers setback in land title dispute

Woodside Petroleum’s troubled Browse LNG Development in Western Australia suffered a setback on Tuesday, when the state's Supreme Court ruled against the company in a native land title dispute.

6 December 2011
LNG

QGC’s investments in Queensland Curtis LNG tops A$5.1 bln

Australian coal seam gas (coal-bed methane) explorer and producer Queensland Gas Co. (QGC) has invested more than A$5.1 billion ($5.23 billion) in the past 18 months in the Queensland Curtis LNG (QCLN

5 December 2011
Exploration & Production

Eni fast-tracks Timor Sea work following Evans Shoal purchase

Italian oil and gas major Eni plans to fast-track the seismic work in the Blackwood gas discovery in the Timor Sea, following its acquisition of the nearby Evans Shoal field last week, according to a news report on Monday.

5 December 2011
Companies & Finance

Santos blames PNG LNG costs rise on strong Aussie dollar

Project co-sponsor Santos has revealed that the strength of the Australian dollar has caused the cost of the PNG LNG project to rise by $700 million.

2 December 2011
Companies & Finance

Origin to finance share in APLNG project

Origin Energy has allocated $800 million in a notes offering, with the proceeds used to finance the developer's share in the massive Australia Pacific LNG (APLNG) project.

2 December 2011
Policy & Regulation

Aussie Senate committee urges more CBM regulation

The Australian government should delay on giving any additional approvals for coal-bed methane (CBM) production in part of the south-eastern Murray-Darling Basin until the Queensland state government completes a regional review of how CBM drilling affects water resources, a federal Senate committee has said.

2 December 2011
Companies & Finance

Aussie dollar pushes PNG LNG budget up

ExxonMobil has raised its estimated capital cost for the PNG LNG development in Papua New Guinea by $700 million to $15.7 billion because of the stronger Australian dollar, PNG LNG shareholders Santos and Oil Search announced on Thursday.

1 December 2011
Policy & Regulation

Aussie LNG exports may offset carbon tax benefit for gas

Australia’s new carbon tax would have made gas-fired power cheaper than coal, but LNG exports from the country could increase gas prices to such an extent that the overall impact may be minimal.

1 December 2011
LNG

Gorgon LNG’s Verve supply deal quells domestic buyers’ worries

Verve Energy’s gas supply agreement with Western Australia’s Gorgon LNG development on Wednesday may have reasssured a domestic industry concerned that it will lose out to the more profitable export market.

1 December 2011
LNG

Verve Energy signs supply deal with Chevron’s Gorgon LNG project

Western Australia’s Verve Energy has signed a 20-year “landmark” supply deal with Chevron’s Gorgon LNG project off the north-west coast of the state, Verve announced on Wednesday.

30 November 2011
Companies & Finance

Beach Energy consolidates assets as focus on shale gas intensifies

Beach is looking to consolidate control over the shale gas-rich Cooper Basin in Australia by taking over joint venture partner Adelaide Energy.

29 November 2011
LNG

Western Australia condemns unconventional ‘misinformation’

Western Australia is hoping to lure more oil and gas companies to explore for unconventional sources in its remote but resource-rich areas and is working to correct much of the “misinformation” spread by anti-shale and coal-bed methane (CBM) campaigns, the state’s minister for mines and petroleum told delegates at the LNG Outlook Australasia

29 November 2011
LNG

Papua New Guinea set to rival Australian LNG sector

At the LNG Outlook Australasia conference this week, InterOil said Papua New Guinea had the economics to become Asia Pacific’s second-largest LNG exporter by 2020.

28 November 2011
LNG

Inpex expects final gas sales deals before Ichthys FID

Japan’s Inpex expects to finalise the gas sales and purchase deals for its Australian Ichthys LNG station by the time it reaches a final investment decision (FID) in early 2012, despite the high cost of developing such projects in the country, an Inpex official told the LNG Outlook Australasia conference in Perth on Monday.

28 November 2011

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