Oil & Gas

Oil prices have edged up, supported by a strengthening equities market and news that the United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA).

The state government has formally commenced seeking a UNESCO World Heritage listing of the Burrup Peninsula, which is home to some of WA’s largest industrial facilities and signalled any new projects will need to meet the highest environmental standards.

Shares in MMA Offshore have fallen today, after the marine logistics company forecast a challenging year ahead as part of its 2018 financial report, which also included a $36.3 million loss.

Oil prices gained more than 1 per cent on Friday, ending a run of weekly declines on signs that Iran sanctions may limit global supply and that a trade war may not curb China's appetite for US crude.

Australia's biggest power producer, AGL Energy, has eased out chief executive Andy Vesey and is seeking a new leader at a time when it faces government pressure to slash energy bills and shore up a shaky grid.

Oil prices have steadied as the escalating trade war between the United States and China weighed on demand expectations a day after prices jumped on a big draw in US crude inventories.

Oil prices have jumped three per cent, with Brent crude futures hitting a three-week high, after US government data showed a larger-than-expected draw in crude inventories and as Washington's sanctions on Iran signalled tightening supplies.

Santos is set to become the dominant supplier of gas in the Western Australian domestic market after striking a deal to buy privately-owned Quadrant Energy for $US2.15 billion ($A2.95 billion).

International real estate services company Cushman & Wakefield has been appointed as facility manager of the new Woodside headquarters in Perth, with former Knight Frank director Bret Madden brought on to lead the on-site team.

The market has welcomed a strong annual profit report and positive outlook for Monadelphous, even though the engineering contractor has warned its construction revenue will fall after a big surge in work on the Ichthys LNG project in Darwin last financial year.

Oil futures rose after weeks of declines, as investors grew more concerned about an expected fall in supply from Iran due to US sanctions and worried less that a trade war between the United States and China would hurt economic growth.

Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the US market while trade disputes and slowing global economic growth would dampen demand for oil.

Global Energy Ventures is developing a plan to develop stranded gas fields in Malaysia using its floating compressed natural gas technology, after signing a letter of intent with Kuala Lumpur-based Tamarind Resources.

Oil prices rose slightly as global markets steadied, recovering some of the previous day's two per cent slide, though a weakening outlook for crude demand kept prices in check.

Woodside Petroleum has further fleshed out its plans for the Scarborough and Browse LNG developments, as it reported a 6.7 per cent lift in half yearly profit.

Oil prices have edged lower, weighed down by a strengthening US dollar as investors remained concerned about the financial crisis in Turkey.

A joint venture between Minderoo Group-owned Squadron Energy and Goshawk Energy has been awarded a series of petroleum tenements in the Canning Basin.

Shares in Carnarvon Petroleum have regained some of yesterday’s losses, after the oil and gas explorer revealed plans for its lesser known Buffalo project in the Timor Sea.

Paris-based upstream oil and gas engineering business Doris Engineering has set up shop in Perth as it prepares for the next wave of local major projects to get under way.

Oil prices have fallen after data suggested inventories at the US crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand.

Nearly 140 major projects are either under way or planned for WA, new research by Business News has found. Click through to access the new list on the BNiQ Search Engine.

The board of APA Group has accepted a $12.98 billion takeover offer from a consortium led by Hong Kong's CK Infrastructure (CKI), in a deal that will see major gas pipelines in WA sold to a new owner.

Crude oil prices rose more than one per cent on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy.

Crude oil prices are slightly lower, extending the previous session's losses as the escalating China-US trade dispute casts doubt over the outlook for oil demand.

Woodside Petroleum has signed up engineering company Wood to prepare development plans for the Scarborough gas field, with the work to be split between offices in Houston and Perth.

Tap Oil major shareholder Risco Energy Investments has increased its takeover offer for the oil and gas company to $38.7 million on the back of BDO’s independent expert valuation.

Oil prices slid about three per cent on Wednesday as a trade dispute between the United States and China escalated further and after Chinese import data showed a slowdown in energy demand.

Carnarvon Petroleum has announced another oil discovery at its Dorado-1 well in the Carnarvon Basin, with the company’s share price having more than quadrupled in the past month.

Oil futures have gained after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the US prepares to reinstate sanctions against major exporter Iran.

Crude futures pulled back, giving up gains from the previous session as trade concerns weighed on the market and fueled concerns about demand.

Oil prices have strengthened, with US crude gaining nearly 2 per cent after traders saw an industry report suggesting domestic crude stockpiles would soon decline again.

Otto Energy has tapped investors for $20 million, with the proceeds set to be spent on drilling programs across the company’s projects.