Santos seizes Australian oil and gas crown

Original article by Paul Garvey
The Australian – Page: 19 : 15-Oct-19

Santos expects a $US1.39bn deal to acquire the northern Australia assets of ConocoPhillips to boost its earnings by about 16 per cent. The deal includes the US group’s controlling stake in the Darwin LNG plant, as well as its interests in the Bayu-Undan, Barossa and Poseidon gas fields. Santos will now surpass Woodside Petroleum as Australia’s biggest oil and gas producer. ConocoPhillips still has a 37.5 per cent stake in the Australia Pacific LNG project in Queensland.

CORPORATES
SANTOS LIMITED – ASX STO, CONOCOPHILLIPS, WOODSIDE PETROLEUM LIMITED – ASX WPL, QUADRANT ENERGY PTY LTD, RBC CAPITAL MARKETS, WOOD MACKENZIE, JP MORGAN AUSTRALIA LIMITED

LNG projects not so polluting: CSIRO

Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 29-Jul-19

Greenhouse gas emissions created by coal seam gas LNG projects in Queensland are not as high as previously thought, according to a report to be released by the CSIRO on 29 July. The CSIRO also states that Australia’s carbon emissions could be significantly reduced if the gas produced by Queensland’s LNG projects was used to generate electricity in Australia, rather than exported. However, this is on the proviso that it replaces existing coal-fired power generation.

CORPORATES
CSIRO

Browse project delays trigger lease warning

Original article by Perry Williams
The Australian – Page: 20 : 19-Jul-19

The retention lease for the Browse gas field expires in mid-2020, but Woodside Petroleum does not expect to make a final investment decision on the project until the end of that year. Resources Minister Matt Canavan has held meetings with executives from Woodside and Browse partner Shell, and he is said to have sought an update on progress regarding the project. Canavan and the National Offshore Petroleum Titles Administrator have previously flagged the potential for the Browse partners to forfeit their leases under ‘use it or lose it’ provisions.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM TITLES ADMINISTRATOR, CREDIT SUISSE (AUSTRALIA) LIMITED, RBC CAPITAL MARKETS

LNG breaks record with $50.5b of exports

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 18 : 16-Jul-19

Data from EnergyQuest shows that LNG was Australia’s third-biggest source of export revenue in 2018-19, after iron ore and coal. LNG exports totalled 75.1 million tonnes by volume, an increase of 21.2 per cent, and about $50.5bn in terms of value. Shipments from Queensland’s three LNG plants increased from 20.5 million tonnes in 2017-18 to 21.8 million tonnes, although new LNG projects in Western Australia and the Northern Territory were the main driver of the growth in exports. The federal government expects LNG export earnings to peak at $54bn in 2019-20.

CORPORATES
ENERGYQUEST PTY LTD, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, ROYAL DUTCH SHELL PLC, CHEVRON CORPORATION, GLOBAL ENERGY MONITOR, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

Gas pressure rising for Woodside

Original article by Nick Evans
The Australian – Page: 17 & 20 : 10-Jul-19

Saul Kavonic of Credit Suisse says the National Offshore Petroleum Titles Administrator recently warned the Browse LNG partners that they could potentially forfeit their leases under ‘use it or lose it’ provisions. Resources Minister Matt Canavan has also issued a similar warning to Woodside Petroleum and its partners, whose retention leases must be renewed in mid-2020. Kavonic suggests that NOPTA could potentially subject the Browse partners to certain conditions if the leases are renewed, or seek to exclude certain partners that have been reticent about making a final investment decision.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BP PLC, JAPAN AUSTRALIA LNG PTY LTD, PETROCHINA COMPANY LIMITED, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM TITLES ADMINISTRATOR, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, CREDIT SUISSE (AUSTRALIA) LIMITED

Investors lurk for North West Shelf shake-up

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 4-Jul-19

Saul Kavonic of Credit Suisse says that some of the partners in the North West Shelf venture could potentially divest their stakes in coming years. The NW Shelf project plans to commence processing third-party gas to offset the depletion of its own gas reserves. Woodside Petroleum has a 16.7 per cent stake in the NW Shelf project and is its operator; CEO Peter Coleman used a recent site tour to flag the possibility that the oil and gas group could eventually review its interest in the project and whether it could make better use of its capital.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CREDIT SUISSE (AUSTRALIA) LIMITED, BHP GROUP LIMITED – ASX BHP, HAYBERRY GLOBAL FUND

Woodside deal to miss deadline

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 18 : 25-Jun-19

The parties involved in the North West Shelf venture were hoping to reach agreement on the processing of third-party gas by the end of June. However, venture partner Shell recently indicated that a delay in reaching a final agreement is possible, and Woodside Petroleum CEO Peter Coleman has confirmed that this is likely to be the case. However, he said a decision on final approval for the US20 billion ($28.8 billion) Browse project remains on target for the end of 2020.

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, BP PLC, BHP GROUP LIMITED – ASX BHP, CHEVRON CORPORATION, SAUDI ARAMCO, ENN GROUP

Canberra puts its foot on the gas

Original article by Nick Evans, Paul Garvey
The Australian – Page: 17 & 28 : 20-Jun-19

The federal government will put pressure on Woodside Petroleum and its Browse LNG joint venture partners to commit to developing the gas project. The current retention lease expires in mid-2020, and Resources Minister Matt Canavan has warned that the Browse partners risk losing the licence if they cannot demonstrate that they are ready to make a final investment decision. Fortescue Metals Group is among the companies that could potentially take up the Browse lease if Woodside and its partners are forced to relinquish it.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROYAL DUTCH SHELL PLC, BP PLC, PETROCHINA COMPANY LIMITED

Woodside expects reduced output

Original article by Perry Williams
The Australian – Page: 20 : 12-Jun-19

Oil and gas producer Woodside Petroleum has advised that its production for 2019 will be at the lower end of its previous guidance of 88-94 million barrels of oil equivalent. Woodside has attributed the revised guidance to a delay in resuming production at the Pluto LNG plant due to maintenance issues. RBC Capital Markets estimates that a two per cent reduction in annual output would reduce Woodside’s earnings by around three per cent.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, RBC CAPITAL MARKETS, BHP GROUP LIMITED – ASX BHP

Challenge to Australia’s gas dominance

Original article by Perry Williams
The Australian – Page: Online : 4-Jun-19

Australia displaced Qatar as the world’s biggest LNG exporter in late 2018, but gas buyers say this status may be short-lived as more producers enter a competitive market. James Vigil of Japan-based JERA says LNG producers need to be competitive with regard to factors other than price, such as the terms and conditions of their supply deals and the length of their contracts. Meanwhile, Qatar plans to ramp up its LNG production, while the US has a rapidly growing LNG export trade.

CORPORATES
JERA, THE TOKYO ELECTRIC POWER COMPANY INCORPORATED, CHUBU ELECTRIC POWER COMPANY INCORPORATED, WOOD MACKENZIE, CHEVRON CORPORATION, AGL ENERGY LIMITED – ASX AGL, EXXONMOBIL CORPORATION, MITSUBISHI CORPORATION