B07 Oil and Gas Extraction

Santos defeats landmark greenwashing court challenge

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Original article by Colin Packham
The Australian – Page: 15 & 24 : 18-Feb-26

Santos committed to a 2040 target of net-zero from its Scope 1 and 2 emissions in its 2020 annual report and investor presentations. The Australasian Centre for Corporate Responsibility subsequently pursued legal action against Santos, alleging that the oil and gas group had breached continuous disclosure or consumer laws, but the Federal Court has dismissed the case. The court has not yet published its reasons for ruling in favour of Santos, although the judgment is expected to clarify that forward-looking emissions pledges are not in breach of disclosure laws provided that a company can demonstrate that they had reasonable grounds for making the claims at the time.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, FEDERAL COURT OF AUSTRALIA

Australian ministers met Japanese gas companies 20 times amid fossil fuel lobbying push

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Original article by Adam Morton
The Guardian Australia – Page: Online : 10-Feb-26

Thinktank InfluenceMap claims that federal resources minister Madeleine King met at least 17 times with representatives from Japanese liquefied natural gas firms in the last term of parliament, with InfluenceMap finding its information through freedom-of-information documents. Those documents also show that four other ministers had single meetings with Japanese gas companies, including prime minister Anthony Albanese, with the details of the meetings contained in a report by InfluenceMap in which it argues that Japanese LNG companies have worked with Australian gas interests to lobby for favourable local government policy to prolong the life of the industry and slow a shift to clean energy in Asia Pacific.

CORPORATES
INFLUENCEMAP, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Santos-led GLNG export venture most vulnerable to new gas reservation rules: RBC

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Original article by Perry Williams
The Australian – Page: 13 & 19 : 24-Dec-25

RBC Capital Markets analyst Gordon Ramsay says the federal government’s proposed domestic gas reservation scheme will have more impact on GLNG than its two rival Gladstone-based gas export projects. Ramsay notes that the GLNG project is highly reliant on third-party gas to meet its export contracts, while it also has lower gas reserves compared with the Australian Pacific LNG and Queensland Curtis LNG projects; Santo has a 30 per cent stake in GLNG. Meanwhile, Hamish McKenzie from the Grattan Institute contends that shipping extra gas from Queensland to the southern gas market will be challenging given that the existing pipeline between the states is already near full capacity.

CORPORATES
RBC CAPITAL (AUSTRALIA) LIMITED, GLADSTONE LNG PTY LTD, SANTOS LIMITED – ASX STO, AUSTRALIA PACIFIC LNG LIMITED, QUEENSLAND CURTIS LNG PTY LTD, GRATTAN INSTITUTE

Profits easier offshore: O’Neill

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Original article by Colin Packham
The Australian – Page: 13 & 17 : 6-Nov-25

Woodside Energy has forecast that its net cash flow from operations will rise to around $US9bn by 2032, compared with about $US5bn in 2024. CEO Meg O’Neill says this growth will be driven by factors such as the start-up of projects such as Scarborough LNG in Western Australia and Trion oil in Mexico, as well as tighter capital management. O’Neill has also warned that the regulatory burden in Australia is making countries such as the US and Mexico more attractive as investment destinations, which is why Woodside is directing more capital to them.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS

Woodside to run Bass Strait gas venture

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 14 & 18 : 30-Jul-25

Woodside Energy has struck a deal to assume operational control of the Gippsland Basin joint venture with ExxonMobil in Bass Strait. About 1,200 of ExxonMobil’s employees and contractors will be transferred to Woodside as part of the deal, while the company will be able to develop new gas fields without its long-standing partner. Woodside will also be able to proceed with the development of four new gas fields in the Gippsland Basin, subject to final investment approval; they are estimated to contain up to 200 petajoules of gas.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, EXXONMOBIL CORPORATION

Nod for Santos’ Narrabri gas project

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Original article by Ryan Cropp
The Australian Financial Review – Page: 17 : 21-May-25

The National Native Title Tribunal has concluded that the Narrabri gas project in NSW is in the national interest and will have a net public benefit. The tribunal has ruled that the state government should lease land in north-western NSW to Santos for the project, which will feature up to 850 gas wells. The Narrabri project was approved by the NSW Independent Planning Commission in 2020; the National Native Title Tribunal’s subsequent decision to grant the leases in late 2022 was challenged by the traditional owners, the Gomeroi people. Santos has agreed to supply all gas from the Narrabri project to the domestic market.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA. NATIONAL NATIVE TITLE TRIBUNAL, NEW SOUTH WALES. INDEPENDENT PLANNING COMMISSION

Gas green light puts Woodside in front

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Original article by Elouise Fowler
The Australian Financial Review – Page: 16 : 30-Apr-25

Woodside Energy has made a final investment decision to proceed with its e $US17bn ($27bn) Louisiana LNG project in the US. Woodside CEO Meg O’Neill has described the project as a "game-changer" for the oil and gas group. The project, which was previously called Driftwood, was acquired for $1.2bn in 2024. Woodside will contribute $US11.8bn to its development, while the balance will be funded by Stonepeak, which has bought a 40 per cent stake in Louisiana LNG. The project will make Woodside one of the world’s biggest producers of LNG, with a global market share of more than five per cent.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS

Santos clears last hurdle for $5.8b Barossa gas field

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Original article by Elouise Fowler
The Australian Financial Review – Page: 16 : 23-Apr-25

A spokeswoman for oil and gas group Santos has advised that first production at its Barossa gas project in the Timor Sea remains on track for the September 2025 quarter. The National Offshore Petroleum Safety & Environmental Management Authority has granted the last major regulatory approval for the $5.8bn gas project, which has faced numerous delays due to environmental ‘lawfare’. Santos had advised in February that the Barossa project was 91 per cent complete.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY

Santos seeks LNG supplies as contract expiry nears

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Original article by Colin Packham
The Australian – Page: 17 : 25-Mar-25

Santos will seek short-term gas supply contracts for its Gladstone LNG project in Queensland, as its 10-year supply deal with the Australia Pacific LNG venture is set to end in May. Another gas supply deal with AGL Energy is slated to end in 2027. However, a gas industry source has warned that the domestic market is not big enough to replace the hundreds of petajoules that Santos has acquired from APLNG and AGL under the existing supply deals. They note that Santos may have to pay more for gas, given that the market has changed substantially since the existing supply contracts were signed.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA PACIFIC LNG LIMITED, AGL ENERGY LIMITED – ASX AGL

Exporters brace for LNG new wave

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 12 : 8-Jan-25

Global supply of LNG is expected to ramp up in 2025, which is likely to weigh on local producers and the federal government’s revenue. The increase in production had been slated to occur in 2024, but delays to a number of LNG projects resulted in this being pushed back to 2025. Meanwhile, EnergyQuest notes that global output of LNG is expected to rise by about 50 million tonnes per annum from 2026, while Saul Kavonic from MST Marquee says there is likely to be a global oversupply of LNG beyond 2026.

CORPORATES
ENERGYQUEST PTY LTD, MST MARQUEE