Oil & Gas

Strike Energy shares bounced back from early selling today after investors absorbed an update that detailed short-term drilling delays but longer-term positives for its Perth Basin gas project.

Woodside Petroleum’s Scarborough LNG project faces a new hurdle after the Conservation Council of WA lodged a Supreme Court action to overturn environmental approvals.

Chevron will finish the year with both its Gorgon and Wheatstone LNG projects partly shut down due to safety concerns just as the LNG price soars to six times higher than its mid-year lows.

The current conditions for iron ore and LNG might be as good as it gets for a while, if international trends continue.

LNG & Domgas: $US11 billion projects set for 2021 approval; AEMO says domgas sufficient until 2026; Kirkup sticks with onshore export ban.

Thirteen WA-linked resources businesses were among Australia’s 25 top corporate taxpayers, paying $16 billion between them.

Woodside Petroleum has announced Peter Coleman will retire as chief executive before the end of next year, with three internal candidates likely to be in contention for the role.

A planned pipeline fabrication facility near Exmouth has been cancelled months after a ministerial decision to launch a special review into developments in the area.

Matrix Composites & Engineering was trading 20 per cent higher this morning after announcing a new technology agreement with oil and gas major Woodside Petroleum.

Woodside Petroleum has declared it wants to engage more with the local startup community and plans to invest in promising new technologies.

Mark Hatfield has been appointed to lead Chevron Australia, replacing Al Williams who has been made global vice president of corporate affairs.

Oil and gas producer Inpex has joined other big companies in the resources sector by permanently shifting east coast fly-in, fly-out workers to Western Australia.

Perth-based oil and gas contractor Valmec has announced a major growth plan, which involves expanding its asset services to account for half of the company’s order book.

The federal government’s silence on news of BP’s plans to close its Kwinana refinery speaks volumes.

Veris has been contracted by APA Group to survey a recently announced $460 million gas pipeline in Western Australia.

Gas demand in the Goldfields will underpin a new $460 million pipeline connecting Western Australia’s two key gas trunklines.

The Morrison government has approved a controversial gas field in northwest NSW, paving the way for the $3.6 billion coal seam project to go ahead.

Chevron has restarted production at Gorgon’s LNG Train 2, after welding issues in the heat exchangers were discovered in July.

Perth-based 88 Energy has completed a $10 million share placement to fund continuing exploration work in Alaska’s North Slope.

Gas may not be the fuel for an east coast recovery, Grattan Institute said today, but the picture was brighter for Western Australia.

Oil and gas contractor MMA Offshore has launched an $80 million equity raising to reduce its total debt, while chairman Andrew Edwards has announced his resignation.

Pluto Train 2 has advantages bringing Scarborough gas to market compared to the Karratha gas plant, Woodside said today, while flagging huge potential for carbon storage offshore of WA.

Kewdale-based contractor Valmec has secured early works on a gas project in Queensland, boosting its order book to about $85 million.

Two production licences have been granted for Woodside’s Scarborough project, but there are still hurdles before a final investment decision due late next year.

Perth-based Red Sky Energy is raising $4 million to purchase Beach Energy’s stake in the Killanoola oilfield, in South Australia’s Otway Basin.

Western Australia’s Kleenheat has secured three years’ worth of gas from Santos under a new supply agreement.

Unions have called to nationalise the shuttering Kwinana refinery as players take sides in a fuel security debate, although most oil processed at the plant is already imported.

Brisbane-headquartered Senex Energy will exit South Australia’s Cooper Basin after more than 20 years, with its assets to be sold to Beach Energy for $87.5 million.

Henderson-based engineering services company Orontide Group has added new capabilities with the acquisition of recently established business Hydrocarbon Solutions.

BP Australia is ceasing fuel production at its Kwinana refinery and will convert it into an import terminal, resulting in hundreds of job losses.

A Perth business developing autonomous vehicles for subsea surveying has raised £10 million via a spin-off, while Poynton Stavrianou are advising on a further potential deal.

A lower oil price has cut Woodside Petroleum’s revenue by about 40 per cent, but the company is studying to lift planned capacity of its Scarborough LNG project.