Gas Extraction

Call for stricter CSG rules in Victoria

22 May 2012 | Mathew Dunckley

Victorian Premier Ted Baillieu is under pressure from within his own party to ramp up obligations on miners when dealing with landholders and to conduct an immediate review of the coal seam gas industry.

Brent steady ahead of EU summit, Iran talks

22 May 2012 |

Brent crude held steady near $US109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply.

Crude edges up, stays above $US92; Iran talks eyed

22 May 2012 |

US crude inched up on Tuesday, extending gains from the previous session when prices snapped out of a six-day losing streak on hopes Beijing would take action to stimulate growth.

Shell eyeing InterOil’s PNG gas woes

22 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 22 May 2012 | PAGE 22 | Shell eyes InterOil’s PNG gas woes

Royal Dutch Shell is edging closer to achieving its ambition to capture an advantageous gas reserves position in Papua New Guinea, after the latest twist in InterOil’s planned liquefied natural gas project there.

Hiatus for Jemena as HDUF slows play

22 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 22 May 2012 | PAGE 22 | Hiatus for Jemena as HDUF slows play

The radio silence on the outcome of the Lazard-run sales process for the Jemena gas transmission assets has sparked speculation of a lack of buyer interest – at least at the $1.5 billion price tag for the pipelines set by parent SingPower.

Brightening skies for Sunrise gas

21 May 2012 | Angela Macdonald-Smith

PRINT: 22 May 2012 | PAGE 24 | Brightening skies for Sunrise gas

Hopes are rising that Woodside Petroleum is closer to breaking the stalemate over its Sunrise natural gas field in the Timor Sea, even as East Timor’s rhetoric against a floating liquefied natural gas project ramps up ahead of elections in July.

Aurora Oil & Gas (AUT)

21 May 2012 | Brendon Lau

Citigroup has lowered its price target on Aurora Oil & Gas by 2 cents to $3.34 to account for the acquisition of a further stake in Sugarloaf and has reiterated its “sell” recommendation on the stock.

Orica bets $800m on WA ammonium nitrate plant

21 May 2012 | Luke Forrestal

PRINT: 22 May 2012 | PAGE 24 | Orica bets $800m on Pilbara

Orica and its foreign partners are confident that West Australian iron ore miners will continue to expand aggressively, justifying a decision to invest $US800 million in a new ammonium nitrate plant in the Pilbara.

Roc Oil (ROC)

21 May 2012 | Brendon Lau

Goldman Sachs has upgraded Roc Oil to “buy” from “neutral” and lifted its price target to 48¢ from 45¢ as it believes that the investment case for the energy company has improved.

Missing gas strategy threatens value

21 May 2012 | Craig Arnold

PRINT: 21 May 2012 | PAGE 51 | Missing gas strategy threatens value

NSW Resources and Energy Minister Chris Hartcher is right to examine all the potential solutions to the gas price hike confronting industrial gas users in NSW and elsewhere in Australia (“Santos says no to NSW gas reservation policy”, May 16).

BP may bid on four Bight prospects

21 May 2012 | Perry Williams

PRINT: 21 May 2012 | PAGE 2 | BP may bid on four Bight prospects

Energy giant BP may bid on new exploration areas in the environmentally sensitive great Australian Bight.

Round two buoys BMA

19 May 2012 | Matthew Stevens

PRINT: 19 May 2012 | PAGE 2 | Round two buoys BMA

Stevens | BMA management has reason to be quietly content with the result in its second ballot of the unionised half of its Bowen Basin coal-mining workforce.

AGL Energy (AGK)

18 May 2012 | Bianca Hartge-Hazelman

Morningstar has maintained its “accumulate” recommendation on AGL Energy ahead of the company’s plans to take full ownership of Loy Yang A brown coal fired power station and mine in Victoria.

South Africa ‘confident’ of solution to Iran oil ban

18 May 2012 |

South Africa, which receives a quarter of its crude from Iran, is holding almost daily discussions with the US, EU Union and Iran about reducing its purchases.

Gillard contrasts Ichthys success with euro crisis

18 May 2012 | Angela Macdonald-Smith

PRINT: 18 May 2012 | PAGE 1 | Ichthys

Prime Minister Julia Gillard has used the official ground-breaking ceremony at Inpex’s $US34 billion Ichthys LNG project in Darwin to reiterate the boost resources are giving to the Australian economy.

India approves plan for Turkmenistan gas imports

18 May 2012 |

India's cabinet on Thursday allowed state-run gas-firm GAIL (India) to sign a gas purchase agreement with Turkmenistan's national oil firm, for supplies from a planned multinational pipeline, a government statement said.

Pension funds get nervous about CSG

18 May 2012 | Angela Macdonald-Smith

PRINT: 18 May 2012 | PAGE 1 | Pension funds get nervous about CSG

Concern about growing investment risk in the coal seam gas and shale gas sector has driven some of Australia’s largest pension funds to join shareholder activist Regnan in a global initiative to raise operating standards in the industry.

PTTEP may backtrack on project

17 May 2012 | Angela Macdonald-Smith

PRINT: 17 May 2012 | PAGE 1 | PTTEP may backtrack on project

Thailand’s PTTEP may scrap its plan to develop a floating liquefied natural gas project at its Cash and Maple fields in the Timor Sea and seek instead to process the gas through another company’s LNG infrastructure.

Gas CEOs urge skills growth

17 May 2012 | Perry Williams

PRINT: 17 May 2012 | PAGE 1 | CEOs push for skills growth

Clough chief executive Kevin Gallagher has joined with senior Chevron Australia executive Colin Beckett to warn that Australia risks losing out on the long-term benefits from the unprecedented investment in liquefied natural gas projects unless it does more to develop specialised engineering skills in the workforce.

Video | APPEA - day two

16 May 2012 |

This year’s Australian Petroleum Producers and Exporters Association conference is very gas heavy for good reason, says resources editor Perry Williams.

Making a good fist of it

16 May 2012 |

PRINT: 16 May 2012 | PAGE 60 | Making a good fist of it

The oil and gas industry’s annual love-in continues to titillate attendees in Adelaide, after the opening night get-together set the bar high with a near punch-up between former Eastern Star Gas boss David Casey and Core Energy CEO Paul Taliangis.

Aurora on lookout after $223m raising

16 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 16 May 2012 | PAGE 18 | Aurora on lookout after $223m raising

Broker Euroz Securities says Aurora Oil & Gas’s $223 million institutional equity raising has been covered at $3.65 a share.

Beach tips early first shale sales

16 May 2012 | Angela Macdonald-Smith and Perry Williams

APPEA | The Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition continues was at the Adelaide Convention Centre.

IBM helps oil companies manage data gush

16 May 2012 |

PRINT: 16 May 2012 | PAGE 1 | IBM helps oil companies manage gusher of data

IBM has spent the past three years building a team of 5000 consultants, scattered around major oil basins worldwide, to help companies tackle a data explosion.

Central Petroleum set on Cottee

16 May 2012 | Luke Forrestal

PRINT: 16 May 2012 | PAGE 2 | Central set on Cottee

The conflict-plagued board of Central Petroleum has anointed renowned oil and gas dealmaker Richard Cottee as its choice to lead the company.

Companies weigh early shale gas investment rush

16 May 2012 | Perry Williams

PRINT: 16 May 2012 | PAGE 17 | Companies weigh early shale gas investment rush

BHP Billiton, BP, Total and Shell are weighing up early stage investments in Australia’s shale gas sector in a bid to secure acreage before assets become too expensive.

Action under way in the NT

16 May 2012 | Angela Macdonald-Smith

PRINT: 16 May 2012 | PAGE 1 | Action under way in the NT

Santos chief executive David Knox has signalled progress in talks with ConocoPhillips for the development of a fallow gas field off the north coast that could drive a long-awaited expansion of the Darwin liquefied natural gas project.

CEO enjoys his Nexus challenge

16 May 2012 | Angela Macdonald-Smith

PRINT: 16 May 2012 | PAGE 1 | CEO gets to the Crux of the matter

Fresh from the huge task of bringing Woodside Petroleum’s $14.9 billion Pluto liquefied natural gas project into production, Lucio Della Martina has another challenge in front of him: setting Nexus Energy on a new growth path.

Video | CSG and agriculture

15 May 2012 |

Santos’s Peter Cleary, Origin’s Paul Zealand, the National Farmers Federation’s Duncan Fraser and others discuss the issues around sharing land between farming and energy interests.

Concho Resources pays $US1bn for Three Rivers

15 May 2012 |

Concho Resources will buy the Three Rivers Operating Company, which had planned an initial public offering, for $US1 billion from the Carlyle Group and Riverstone.

Karoon tips July for farm-out deal

15 May 2012 | Angela Macdonald-Smith and Perry Williams

APPEA | Tuesday at the Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition at the Adelaide Convention Centre.

APPEA brings back the biff

15 May 2012 |

PRINT: 15 May 2012 | PAGE 56 | APPEA brings back the biff

The oil and gas industry’s biggest knees-up of the year, the Australian Petroleum Production and Exploration Association annual conference, is THE big ticket in Adelaide this week.

Fazzino’s shale-and-hearty call

15 May 2012 | Robert Guy

PRINT: 15 May 2012 | PAGE 4 | Fazzino’s shale-and-hearty call

Guy | He may be an old school petrol-head but that’s not going to stop James Fazzino from embracing the new energy future.

BHP insists there’s gold in US shale

15 May 2012 | Angela Macdonald-Smith

PRINT: 15 May 2012 | PAGE 1 | BHP insists there’s gold in US shale

BHP Billiton’s petroleum chief executive, Michael Yeager, has conceded that a write-down of the mining giant’s $US26.9 billion of shale gas assets in the United States is possible given the slump in US gas prices. But he has insisted the business will create “huge wealth” in the longer term.

Pluto drifts away from Woodside orbit

15 May 2012 | Angela Macdonald-Smith

PRINT: 15 May 2012 | PAGE 3 | Pluto drifts away from Woodside orbit

Woodside CEO Peter Coleman says the expansion of the $14.9 billion Pluto LNG project is as far away as ever owing to mediocre test results and third-party difficulties.

Ferguson better get it while it’s hot

15 May 2012 | Perry Williams

PRINT: 15 May 2012 | PAGE 4 | We’d better get it while it’s hot

Williams | Australia looks set to dramatically transform its LNG industry but it would be wise not to count its chickens before they’re hatched.

Costs threat to $200bn gas future

15 May 2012 | Perry Williams

PRINT: 15 May 2012 | PAGE 1 | Costs threat to $200bn gas future

Oil executives have warned a $200 billion-plus pipeline of liquefied natural gas projects may never be built due to cost and capacity constraints, threatening Australia’s ambition to leapfrog Qatar as the world’s largest LNG producer.

Australia says shale could double its gas resources

14 May 2012 |

Australia, the world's fourth-largest exporter of liquefied natural gas, could have enough shale gas resources to double its gas resource base and expand its growing export industry.

Federal government opens up petroleum acreages

14 May 2012 |

The federal government has opened up 27 new offshore petroleum acreages across nine basins in Commonwealth waters off five states, according to Resources Minister Martin Ferguson.

Clouds on horizon for LNG development

14 May 2012 | Angela Macdonald-Smith and Perry Williams

APPEA live | The Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition at the Adelaide Convention Centre will be where “the world meets Australian oil and gas”.

Worley looks to LNG logistics opportunity

14 May 2012 | Jenny Wiggins

PRINT: 14 May 2012 | PAGE 2 | Worley looks to LNG logistics

The veteran head of Australia’s biggest engineering firm claims the country is already pricing itself out of design and other work on big resource projects such as liquefied natural gas.

Total tips a glowing future for Australian energy

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 1 | Total tips glowing future for Australian energy

The head of the world’s fifth-largest oil company, Total chief Christophe de Margerie, wants to turn Australia into a global energy hub on a par with the Middle East, Canada and Russia.

It’s not all roses on the gas front

14 May 2012 | Perry Williams

PRINT: 14 May 2012 | PAGE 2 | It’s not all roses on the gas front

Williams | As the doors swing open in Adelaide to the Appea conference, there’s a growing feeling that we may have seen the peak of the cycle.

BHP to talk up US shale gas prospects

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 3 | BHP to talk up US shale gas prospects

BHP Billiton’s Mike Yeager will emphasise the explorer’s capacity to cope with slumping US gas prices amid speculation it faces a write-down in full-year accounts.

Chevron upbeat about Asian LNG take-up

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 3 | Chevron upbeat about Asian take-up

Chevron has brushed aside concerns about competition from North America in liquefied natural gas supply, speaking bullishly of the prospects for expansion at its Wheatstone project.

Hurdles prompt call for caution

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 3 | Hurdles prompt call for caution

Australia’s shale gas industry has some major obstacles to overcome and investors need to be realistic about its prospects, a Perth-based expert in unconventional gas has warned.

Origin forecasts red tape reduction

14 May 2012 | Perry Williams

PRINT: 14 May 2012 | PAGE 1 | Origin forecasts red tape reduction

Origin Energy has shrugged off the impact of rival liquefied natural gas projects from North America and predicted Australia’s regulatory regime may be eased as it develops its $US20 billion Australia Pacific LNG facility.

Gas row set to test leadership

14 May 2012 | Dan Hall

PRINT: 14 May 2012 | PAGE 1 | Gas row set to test leadership

Queensland’s $70 billion coal seam gas industry is set to test the state’s newly elected Liberal National Party as opponents to the sector prepare to wage the next stage of a public campaign against the industry.

Political will vital to cutting green tape

14 May 2012 | Louise Dodson

PRINT: 14 May 2012 | PAGE 1 | Political will vital to cutting green tape

A focus by business on the costs of “green tape” will build momentum for slashing regulation, but political will is needed to make real progress.

Santos focus shifting to WA and NT

14 May 2012 | Perry Williams

PRINT: 14 May 2012 | PAGE 12 | Santos shifting LNG focus to NT and WA

The Adelaide-based energy company’s epicentres for LNG will change in the latter half of this decade.

Australia set to lead in the global golden age of gas

14 May 2012 | Martin Ferguson

PRINT: 14 May 2012 | PAGE 1 | Australia set to lead in the global golden age of gas

Last year the International Energy Agency released its annual World Energy Outlook as well as a publication called Golden Age of Gas.

Pricey LNG projects put divesting on the agenda

14 May 2012 | Craig Rogers

PRINT: 14 May 2012 | PAGE 1 | Pricey LNG projects put divesting on agenda

Liquefied natural gas projects are extraordinarily expensive. Chevron’s Gorgon and Wheatstone projects require a capital outlay of $US72 billion.

Gas mind shift runs through Sabine Pass

14 May 2012 | Nikos Tsafos

PRINT: 14 May 2012 | PAGE 1 | Natural gas mind-shift runs through Sabine Pass

When Cheniere announced its plans to reconfigure its Sabine Pass import terminal into an export facility, the gas world greeted the news with scepticism and cynicism. The US would never allow exports, said many companies; the economics are too risky, said others.

Canaries unwell in US coalmines

14 May 2012 | Jamie Freed

PRINT: 14 May 2012 | PAGE 1 | Canaries unwell in US coalmines

Cheap shale gas combined with stricter regulations on emissions has led to a preference for electricity from natural gas over coal.

Message to Canberra: avoid uncertainty

14 May 2012 | David Knox

PRINT: 14 May 2012 | PAGE 11 | Message to Canberra: uncertainty impedes LNG investment growth

Australia’s oil and gas industry is playing a critical role in the country’s move toward a cleaner energy future and a new era of economic prosperity, Santos chief David Knox tells the APPEA conference.

For floating LNG projects, small is the next big thing

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 1 | Small is next big thing for FLNG

Developers hope to add flexibility and cut costs by reducing the scale of projects.

NSW will pay a high price for stalling on gas

14 May 2012 | Graeme Bethune

PRINT: 14 May 2012 | PAGE 12 | NSW will pay a high price for stalling on gas

The less gas NSW is able to produce itself, the more it is likely to have to rely on a single and increasingly expensive interstate supply source.

LNG operators really feeling the pressure

14 May 2012 | Perry Williams

PRINT: 15 May 2012 | PAGE 1 | LNG operators really feeling the pressure

When BG Group revealed a $US5 billion blowout at its Queensland liquefied natural gas project in early May to $US20.4 billion, Australia’s growing reputation as a high-cost headquarters for building new gas supplies appeared to be sealed.

Chevron wins new Wheatstone LNG customer

13 May 2012 | Angela Macdonald-Smith

Chevron has signed up another Japanese customer for its $29 billion Wheatstone liquefied natural gas project in Western Australia, bringing its sales commitments to more than 80 per cent of its available gas.

Kloppers to focus on shareholder returns

12 May 2012 | Tony Boyd

PRINT: 12 May 2012 | PAGE 1 | Kloppers’ conservative agenda

BHP Billiton boss Marius Kloppers has declared the resources giant will champion a “conservative” approach to capital management and investment opportunities.

Resources hubris put on hold

12 May 2012 | Tony Boyd

PRINT: 12 May 2012 | PAGE 1 | Resources hubris put on hold

Senior executives at mining giant BHP Billiton were shaken out of their complacency about the resources super cycle in November last year when all projects were put under review.

Downside of gas surprises BHP

12 May 2012 | Matthew Stevens

PRINT: 14 May 2012 | PAGE 1 | Downside of shale gas surprises BHP

Stevens | Stepped-up production has hit the price of shale gas, which may push BHP into embarrassing write-downs.

National Briefs

12 May 2012 |

PRINT: 12 May 2012 | PAGE 4 |

The NSW government will “vigorously defend” a High Court challenge to its public service wages policy.

Shell tanks as refining losses hit home

11 May 2012 | Angela Macdonald-Smith

PRINT: 11 May 2012 | PAGE 1 |

Royal Dutch Shell has confirmed the woeful state of Australia’s refining sector, reporting a $495.2 million net full-year loss from its downstream business after writing down its Geelong refinery by $638 million.

Petrohawk swoops on liquids to offset gas slump

11 May 2012 | Angela Macdonald-Smith

PRINT: 11 May 2012 | PAGE 1 |

BHP Billiton’s Petrohawk shale gas unit has managed to mostly offset the effect of slumping US natural gas prices in the March quarter by increasing liquids-rich shale gas production.

Mining firm won’t drill in Sydney suburb

11 May 2012 |

Mining company Dart Energy has abandoned plans to drill a coal seam gas well in Sydney's inner west.

LNG projects drive QLD jobs growth

11 May 2012 | Mark Ludlow

PRINT: 11 May 2012 | PAGE 43 | LNG projects drive Qld jobs growth

Queensland Premier Campbell Newman yesterday welcomed Australia Pacific LNG’s decision to award an $800 million contract to Leighton Contractors to build gas and water infrastructure in the state’s south-west.

Company briefs

11 May 2012 |

PRINT: 11 May 2012 | PAGE 24 |

Crown Ltd has denied either the company or its chairman, James Packer, have lifted their stake in rival Echo Entertainment Group.

Leighton wins $800m APLNG contracts

10 May 2012 | Angela Macdonald-Smith

Leighton Holdings has won two contracts worth $800 million from Origin Energy’s Australia Pacific Liquefied Natural Gas project in Queensland to build gas and water infrastructure.

APLNG wins $US3bn loan in LNG first

10 May 2012 | Angela Macdonald-Smith

The US export credit agency Export-Import Bank has approved a $US2.95 billion loan to Origin Energy’s Australia Pacific Liquefied Natural Gas project in Queensland, its first backing for an LNG venture in Australia.

Resources briefs

10 May 2012 |

PRINT: 10 May 2012 | PAGE 3 | briefs

BlueScope Steel continued to strengthen its balance sheet following the $US145 million sale of its Metl Span business in North America last week. The steelmaker refinanced $US305.4 million worth of private placement notes, replacing them with lower-cost bank debt through undrawn facilities.

Inner Sydney council blocks CSG drilling

09 May 2012 |

PRINT: 10 May 2012 | PAGE 1 | NSW:Inner Sydney council blocks CSG drilling

A coal seam gas well planned for a suburb in Sydney's inner west has been blocked by a local council in a move that could have statewide ramifications.

Oil slips as Europe, Greece fan demand worries

09 May 2012 |

Oil prices weakened on Tuesday for a fifth day running as Greece's post-election uncertainty added to signs of economic slowdown on both sides of the Atlantic.

CSG delays threaten investment

09 May 2012 | Robbert De Weijer

PRINT: 09 May 2012 | PAGE 2 | CSG delays threaten investment

A growing body of opinion reflects that NSW is heading for a gas shortage and, at best, a doubling of gas prices, as a result of red tape holding up projects and supply.

PNG LNG on budget, says Oil Search chief

09 May 2012 | Angela Macdonald-Smith

PRINT: 09 May 2012 | PAGE 3 | PNG gas on budget, says Oil Search chief

Oil Search chairman Brian Horwood has sought to reassure investors that the $US15.7 billion Papua New Guinea liquefied natural gas project remains on schedule and on its revised budget amid mounting concerns about potential cost blowouts at major resource projects.

Nexus nutting out Crux details

09 May 2012 | Sarah Thompson and Anthony Macdonald

The commercial and legal minds at Royal Dutch Shell, Nexus and Osaka Gas are set for a few days of nutting out the deal over the Crux gas deposit in the Timor Sea.

Boom had better keep giving

09 May 2012 | Louise Dodson

Treasury expects the resources boom to just keep on giving at unprecedented levels.It has built its entire budget on it.

Oil falls below $US113 on slowdown, higher output

08 May 2012 |

Brent crude oil fell below $US113 a barrel on Tuesday in a fifth day of losses as economic slowdown on both sides of the Atlantic deepened fears of lower oil demand at time of ample supply from major oil producers.

Brent crude holds above $US113 after 4-day drop

08 May 2012 |

Brent crude held steady above $US113 a barrel on Tuesday, recovering slightly from steep losses in the previous four sessions caused by fears that the slowing economies of the United States and the euro zone would reduce oil demand.

Oil Search reassures on PNG LNG

08 May 2012 | Angela Macdonald-Smith

Oil Search chairman Brian Horwood has reassured investors that the $US15.7 billion Papua New Guinea liquefied natural gas project remains on schedule and on its revised budget.

Crude steady near $US98 ahead of US stock data

08 May 2012 |

US crude futures were barely changed in early trade on Tuesday, supported by steady financial markets after European election results sparked concerns on the region's debt crisis.

Murphy Pipe wins BG pipeline contract

08 May 2012 | Angela Macdonald-Smith

Murphy Pipe and Civil Constructions has won a $250 million contract from BG Group to install gas and water pipelines through coal seam gas fields in the Surat Basin.

Commodities markets summary

08 May 2012 |

Copper futures have risen and oil prices have ended mixed, amid a muted reaction across markets to the French and Greek elections over the weekend.

BHP gets gas over US assets

08 May 2012 | Tony Boyd

PRINT: 08 May 2012 | PAGE 56 | BHP gets gas over US assets

BHP chief Marius Kloppers and chairman Jac Nasser look like they will escape the embarrassment of another huge write-down but that’s unlikely to ease the pressure on them.

Philippines open to exploration deal with China

08 May 2012 | Daniel Ten Kate

PRINT: 08 May 2012 | PAGE 2 | Philippines seeks energy deal with China

Philippine President Benigno Aquino said he’s open to an agreement with China that would allow companies to exploit oil and gas resources while the governments separately resolve South China Sea border disputes.

Company briefs

08 May 2012 |

PRINT: 08 May 2012 | PAGE 3 | co briefs

Virgin Australia will shift the bulk of its marketing team from Brisbane to Sydney and look to recruit up to 14 more staff for the division as the company sheds its low-cost roots to focus on winning corporate accounts.

Two parties left for SingPower’s Jemena assets

08 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 08 May 2012 | PAGE 16 | Two parties left for SingPower’s Jemena assets

Final bids for Singapore Power’s Jemena gas transmission assets were submitted on March 23 and the market hasn’t heard a peep since but it’s understood negotiations are still underway with two parties.

Next step for Senex is sale of Qld coal seam gas assets

08 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 08 May 2012 | PAGE 16 | Next step for Senex is sale of Qld coal seam gas assets

With UK gas major BG Group now off its share register, explorer Senex Energy is gearing up for the potential sale of its Queensland coal seam gas interests.

BHP to fund deep-water WA drill

07 May 2012 | Angela Macdonald-Smith

BHP Billiton will pay up to 100 per cent of the drilling of a highly prospective deep-water exploration well off Western Australia after forging a farm-in deal with venture operator Woodside Petroleum.

Oil extends losses in Asian trade

07 May 2012 |

Oil prices have extended losses in Asian trade, as French and Greek election results stoked investor concerns over the euro zone debt crisis, while disappointing US economic data also weighed.

Bears bellow with BG budget blowout

07 May 2012 | Edited by Sarah Thompson and Anthony MacDonald

BG’s budget increase gives Macquarie Equities’ Adrian Wood further grist for his already bearish forecast of widespread cost blowouts across the LNG sector.

Miclyn Express Offshore (MIO)

07 May 2012 | Brendon Lau

Citigroup has trimmed its price target on Miclyn Express Offshore by 10¢ to $2.40 a share following management’s lower than expected guidance, but has retained its “buy” recommendation.

Majors in new gas search

07 May 2012 | Perry Williams

PRINT: 07 May 2012 | PAGE 1 | Majors in new gas search

Woodside Petroleum, BHP Billiton and US oil producer Hess Corporation have won the rights to drill for new oil and gas discoveries off Western Australia which may help feed a clutch of planned LNG expansions.

News briefs

07 May 2012 |

PRINT: 07 May 2012 | PAGE 10 |

More than 45,000 people affected by this year’s floods won’t have to pay the flood levy introduced in 2011. Treasurer Wayne Swan has also confirmed that the temporary flood levy in place for the 2011-12 financial year will end on June 30.

US sets new rules for fracking on federal lands

05 May 2012 |

The Obama administration unveiled long-awaited rules on Friday to bolster oversight of “fracking” on public lands, seeking to allay environmental concerns over the technology.

Cheap US gas will tip power scale

05 May 2012 | Robert Guy

PRINT: 05 May 2012 | PAGE 2 | Global gas explodes

For Jim Chanos, the famed short seller who has forged a reputation as one of Wall Street’s more savvy investors, the growing US shale gas boom is a revolution in the making,

Price pressures in CSG

05 May 2012 | Ayesha de Kretser

PRINT: 05 May 2012 | PAGE 2 | Price pressures in CSG

Coal seam gas developers Santos and Origin Energy are likely to face increasing inflationary pressure at their Queensland projects after the United Kingdom’s BG Group revealed a $US5 billion blowout in its Gladstone CSG project.

Call to better protect energy assets

05 May 2012 | John Kerin

PRINT: 05 May 2012 | PAGE 2 | Call to better protect energy assets

A foreign power could see Australia’s largely remote $380 billion oil and gas assets as an “easy target’’ unless the Gillard government moves to boost its military presence in the country’s north, a high-level defence review has warned.

Brent set for steepest weekly fall since December

04 May 2012 |

Brent crude held above $US116 on Friday ahead of a key US payrolls report, with the benchmark poised for its steepest weekly fall since December due to concerns over the health of the global economy and easing supply disruption fears.

Brent set for steepest weekly fall since December

04 May 2012 |

Brent crude is poised for its steepest weekly fall since December due to concerns over the health of the global economy and easing supply disruption fears.

Argentina nationalises YPF with house vote

04 May 2012 |

Argentina's Congress nationalised the country's biggest oil company, YPF, by an overwhelming lower house vote that underscored wide popular support for a measure that has rattled foreign investors and trade partners.

Oil little changed after two-day slide, US jobs data eyed

04 May 2012 |

US oil was little changed early on Friday, after dropping in the previous two sessions on demand growth concerns as US data showed signs the world's biggest economy was slowing.

Commodities market roundup

04 May 2012 |

■ WTI crude falls to $US102.54 ■ Brent North Sea crude tumbles to 3-month low at $US116.08 ■ Gold futures down 1.2 per cent ■ LME 3-month copper 0.9 per cent lower at $US8229

Red tape, strong $A fuel BG’s Qld costs

04 May 2012 |

UK energy giant BG Group has cited increased red tape and the strong Australian dollar as the reasons for a sharp increase in projected costs for its Queensland coal seam gas and liquified natural gas export project.

Oil drops sharply on US economic data, technicals

04 May 2012 |

Crude oil futures dropped for a second straight day as more signs of slowing US economic growth and swelling US inventories sparked a wave of selling that sent prices crashing through key support levels.

Putin pledges tax relief for ‘tight’ oil

04 May 2012 |

Russian Prime Minister Vladimir Putin on Thursday approved a package of stimulus measures to unlock vast untapped unconventional oil resources in Western Siberia that could boost Russian oil production by up to 2 million barrels a day.

BG Group sells Brazil stake for $US1.8bn

04 May 2012 |

The British oil and gas company BG Group agreed to sell its 60 per cent stake in a Brazilian gas distribution company for $US1.8 billion to Cosan, a local sugar and ethanol producer.

Natural gas goal

04 May 2012 | Cheryl Cartwright

PRINT: 04 May 2012 | PAGE 47 | Natural gas goal

Dow Australia’s managing director Craig Arnold is right (“Domestic gas market beset with failures”, Letters, May 3) on the need for government policy to focus on natural gas. .

PTTEP breaks media silence after 2009 oil spill

04 May 2012 | Natalie Gerritsen

PRINT: 04 May 2012 | PAGE 24 | PTTEP breaks media silence after 2009 oil spill

PTTEP Australasia, the company behind the 2009 Montara oil spill off the north coast of Western Australia, has emerged from a self-imposed media exile, saying it wants to leave the legacy of the disaster behind.

Santos chairman presses for IR action

04 May 2012 | Perry Williams

PRINT: 04 May 2012 | PAGE 19 | Chairman presses for IR action

Peter Coates has criticised the federal government for its handling of industrial relations and called for Labor to act in next week’s budget.

Barnett holds firm on Browse gas plant

04 May 2012 | Natalie Gerritsen

PRINT: 04 May 2012 | PAGE 13 | Point of note for Woodside

WA Premier Colin Barnett has fired a shot across the bow of the new partners in Woodside’s $30 billion Browse LNG project, warning them the gas will still be processed at the environmentally controversial James Price Point.

Brent reflects caution ahead of US data

03 May 2012 |

Brent crude steadied above $US118 a barrel on Thursday, reflecting caution among investors ahead of a key US employment report after dismal data from the United States to Europe renewed doubts about the state of the global economy.

Eureka Energy rejects $107m takeover bid

03 May 2012 |

PRINT: 03 May 2012 | PAGE 1 | FED:Eureka Energy rejects $107m takeover bid

Oil and gas producer Eureka Energy has rejected a $107 million takeover offer from Aurora Oil & Gas, saying it was an opportunistic bid which undervalued the company..

Brent holds above $US118, caution ahead of US jobs data

03 May 2012 |

Brent crude steadied above $US118 a barrel on Thursday, reflecting caution among investors ahead of a key US employment report.

US crude steadies above $US105

03 May 2012 |

US crude steadied above $US105 a barrel on Thursday, after dropping in the previous session on a surge in domestic crude oil inventories to their highest level in more than 20 years and weak economic data.

Chesapeake CEO says 'deeply sorry'; shares tumble

03 May 2012 |

Chesapeake Energy chairman and chief executive Aubrey McClendon has apologised to investors after shares dropped on turmoil caused by his personal financial dealings.

Ukraine taps gas – and independence

03 May 2012 | Ladka Bauerova

PRINT: 03 May 2012 | PAGE 24 | Ukraine taps gas – and independence

For the first time in more than two centuries, Ukraine sees its way to independence from Moscow.

Domestic gas market beset with failures

03 May 2012 | Craig Arnold

PRINT: 01 May 2012 | PAGE 67 | Domestic gas market beset with failures

Matthews Stevens (“Liveris barking up wrong tree”, April 26) has missed the point of Andrew Liveris’ comments on Australian energy opportunity. The primary issue is that Australia has no policy for its principal point of engagement in Asian economic growth, which is its energy resources.

Woodside seeks new projects, partners

02 May 2012 |

Woodside Petroleum, Australia's largest oil and gas company, plans big increases in exploration spending and is likely to tie up with new partners to drive growth as its major LNG projects in the country's west start coming online.

Woodside boss stands ground on James Price

02 May 2012 | Luke Forrestal

PRINT: 03 May 2012 | PAGE 1 | Woodside boss stands ground on James Price

Peter Coleman intends to complete Woodside’s assessment of processing gas from its Browse LNG project through a new gas hub at James Price Point, despite joint-venture partners supporting another option.

Crude steady near $US106, US data supports

02 May 2012 |

US crude futures held steady near $US106 on Wednesday, after sharp gains a day earlier on faster-than-expected manufacturing growth in the United States, the world's top oil consumer.

Origin agrees major gas sales with GLNG

02 May 2012 | Perry Williams

PRINT: 03 May 2012 | PAGE 2 | Origin seals major gas sales with GLNG

Origin Energy has inked a major gas sales agreement with GLNG partners, a joint venture between some of the world’s biggest energy companies.

Woodside Petroleum (WPL)

02 May 2012 | Joanna Heath

Deutsche Bank has upped its price target on Woodside Petroleum from $45.45 to $47.00, and retained its “buy” rating, after the company said it would sell a 14.7 per cent stake in its Browse LNG project.

Commodities markets roundup

02 May 2012 |

■ Light sweet crude closes higher at $US106.16 ■ Brent North Sea crude rises to $US119.66 ■ Gold futures slip 0.1 per cent ■ LME 3-month copper up 0.5 per cent at $US8440

WTI oil leaps on surge in US manufacturing

02 May 2012 |

Oil prices have leapt in New York after an unexpected surge in US manufacturing activity signalled strength in the recovery in the world's largest economy.

Morgan Stanley’s good oil on APA Group

02 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 02 May 2012 | PAGE 16 | M Stanley cooking with gas on APA

Morgan Stanley has beaten at least two other banks to sell Petronas Australia’s $540 million stake in APA Group.

Petronas pulls the pin on APA

02 May 2012 | Sarah Thompson

PRINT: 02 May 2012 | PAGE 1 | Petronas pulls the pin on APA

Malaysia’s Petronas has unexpectedly sold its $540 million stake in Australian gasline operator APA Group, cementing the view it is likely to focus on owning Australian resource projects rather than infrastructure.

Home lenders give hearty olé

01 May 2012 | Matthew Stevens

PRINT: 02 May 2012 | PAGE 1 | Home lenders give hearty olé

Lenders might have reason to thank Spain’s statistician for near-perfect timing of southern Europe’s biggest economy slipping back into recession.

Woodside’s Coleman delivers funding and new partner

01 May 2012 | Michael Smith

PRINT: 02 May 2012 | PAGE 1 | Coleman delivers, with funding and new partner

His management style is low-key and conservative compared with his bullish predecessor but Woodside boss Peter Coleman is clearly delivering results.

CSG report ‘will stifle opportunity’

01 May 2012 |

The recommendations of a NSW parliamentary inquiry into coal seam gas would suffocate economic opportunities in the state, petrol producers say.

Fracking effects must be probed: NSW inquiry

01 May 2012 | Claire Stewart

PRINT: 02 May 2012 | PAGE 2 | Fracking effects must be probed: NSW inquiry

An NSW parliamentary inquiry into the coal seam gas industry has pointed to considerable uncertainty about the industry’s environmental impact as the basis for its recommendation for further exploration and drilling.

Brent holds above $US119 as China offsets Europe, US gloom

01 May 2012 |

Brent crude held steady above $US119 a barrel on Tuesday as Chinese manufacturing grew, providing a bright spark amid a gloomier economic outlook in the euro zone and the United States.

Crude steady near $US105 as market awaits China PMI

01 May 2012 |

US crude futures held steady near $US105 on Tuesday as the market looks ahead to data from China for signs of a rebound in its manufacturing activities.

Woodside shares jump 4pc on LNG sale

01 May 2012 |

Shares in Woodside Petroleum jumped nearly 4 per cent on Tuesday after it agreed to sell a 14.7 per cent stake in its Browse LNG project to Japan's Mitsui & Co and Mitsubishi Corp for $2 billion.

AWE Ltd (AWE)

01 May 2012 | Brendon Lau

Citigroup has upgraded AWE to “buy” from “neutral” due to its recent price weakness and reiterated its price target of $2.30 following the company’s March quarter production report.

Woodside deal makes a point

01 May 2012 | Perry Williams

PRINT: 02 May 2012 | PAGE 1 | Woodside deal makes a point

Woodside Petroleum is set for a showdown with its venture partners on developing gas from its $30 billion Browse development at the controversial James Price Point site near Broome.

Commodities markets roundup

01 May 2012 |

■ Benchmark US crude down at $US104.87 ■ Brent crude falls to $US119.47 ■ Gold unchanged at $US1664.20 a troy ounce ■ LME 3-month copper 0.2 per cent lower at $US8399

Exxon Mobil shuts Louisiana oil pipeline after leak

01 May 2012 |

PRINT: 01 May 2012 | PAGE 1 | UPDATE 5-Exxon Mobil shuts Louisiana oil pipeline after leak

Exxon Mobil has shut the 160,000 barrel per day North Line crude oil pipeline in Louisiana after a leak spilled 1900 barrels of crude oil in a rural area over the weekend.

Snapshot: Oil steady on US stimulus hopes

30 April 2012 |

Oil prices held steady above $US119 per barrel on Monday as the prospect of a third round of liquidity stimulus by the United States and a weaker dollar continued to support commodities despite slower economic growth around the globe.

QGC sells stake in Senex Energy

30 April 2012 | Sarah Thompson and Anthony Macdonald

Queensland Gas, now under the umbrella of British gas producer BG Group, is selling its 8.1 per cent stake in Brisbane-based junior oil and gas explorer Senex Energy.

Brent edges down towards $US119

30 April 2012 |

Brent crude edged lower towards $US119 per barrel on Monday as economic woes in developed economies stoked fears of lower fuel demand, although the prospect of a third round of monetary easing by the United States limited its decline.

Origin output up 8pc despite BassGas delay

30 April 2012 | Perry Williams

Origin Energy recorded an 8 per cent rise in production for the March quarter as volumes from the Otway Basin and its Australia Pacific LNG project offset delays from the producer’s BassGas venture in the Bass Strait.

Beach Energy boosts output, revenue

30 April 2012 | Perry Williams

Cooper Basin-focused oil and gas play Beach Energy endured a mixed first quarter after struggling to find buyers for its gas output despite boosting production by 15 per cent to 2 million barrels of oil equivalent.

Aurora bids $107m for Eureka to boost reserves

30 April 2012 | Perry Williams

Aurora Oil & Gas has launched a $107 million takeover of US shale explorer Eureka Energy in a bid to increase its reserves in the onshore Eagle Ford Shale in Texas.

Crude slips in thin trade after weak US data

30 April 2012 |

US crude futures dipped on Monday in thin Asian trade, with key markets Japan and China shut for holidays, as traders look for stronger trading cues after weaker-than-expected US growth data.

Commodities markets roundup

30 April 2012 |

■ Brent North Sea crude lower at $US119.83 ■ West Texas Intermediate crude rises to $US104.93 ■ Gold futures edge higher ■ LME three-month copper up 1.1 per cent at $US8415

Brent slips toward $US119 on euro zone fears

27 April 2012 |

Brent crude dropped on Friday to trade just above $US119 a barrel on renewed fears about the state of the debt-ravaged euro zone economies following a downgrade of Spain's credit rating.

Farmers plough into Hazzard’s CSG slur

27 April 2012 |

The NSW Farmers Association says it's shocked the state's planning minister has labelled the lobby group as "almost irrelevant" to consultation on coal seam gas development, saying the government has not listened to them.

Argentina smooths way for oil nationalisation

27 April 2012 |

Argentina has stepped toward nationalising its biggest oil company after an expropriation bill sailed through the Senate and a lower house committee, setting the stage for final approval next week.

Crude down, Spain ratings cut reignites euro fears

27 April 2012 |

US crude futures were lower on Friday, holding just over $US104, as Standard & Poor's decision to cut its credit rating on Spain renewed fears over the state of the euro zone economies.