Australia has passed legislation that could set a precedent for who pays to clean up the fossil fuel industry in Asia, making former owners of oil and gas fields responsible for the costs of dismantling facilities if later owners fail.The new…
Australian oil and gas company Western Gas, the operator of the offshore Exploration Permit WA-519-P in W. Australia, has found a partner to fund part of the drilling costs for the Sasanof-1 offshore exploration well.The partner is the ASX-listed Global Oil and Gas Limited…
Australia’s parliament last week passed legislation under which the government will be able to make offshore license owners pay for decommissioning and environmental remediation if they sell their offshore blocks and the new owner is then unable to meet its financial obligations…
Santos Ltd expects its planned takeover of Oil Search, creating a A$20 billion ($15 billion) company, will help the combined group weather the energy transition better than if they remained separate.The companies agreed an all-scrip deal earlier…
Expectations are growing that BHP Group Ltd will deliver a verdict on the future of its petroleum business at its results next week, as it comes under increasing pressure to cut its fossil fuel footprint.The world's biggest miner has been facing…
Australia's Santos Ltd increased the lower end of its annual production outlook on Thursday and reported a 37% jump in second-quarter revenue, helped by higher prices and increased demand for natural gas.The country's second-largest independent…
Valaris, a company leasing offshore drilling rigs to oil and gas companies, has secured a 16-well contract for one of its semi-submersible drilling rigs.The drilling firm said Monday that the Australian oil and gas firm Woodside had hired the Valaris DPS-1 semi-submersible drilling unit…
Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field developments, said Thursday that its FLNG Solution development had secured the Major Project Status (MPS) renewal from the Australian Commonwealth Government…
Oil and gas major Chevron as the operator of the Gorgon gas project has, with its partners, agreed to proceed with the Jansz-Io Compression (J-IC) project, offshore W. Australia. The investment is estimated at around $4 billion (AU$6 billion)…
Australia asked companies on Wednesday to nominate offshore acreage they want to explore for places to bury carbon dioxide, part of a government drive to promote carbon capture and storage (CCS) to help cut emissions.'The coalition government…
Australia, the world's biggest exporter of coal and liquefied natural gas, should view decarbonization not as a threat but as an opportunity to create a 'new, large-scale industry' in carbon offsets, Santos CEO Kevin Gallagher said on Tuesday…
The Australian government picked six-carbon capture, use, and storage projects on Monday to receive a total of A$50 million ($39 million) in funds as it looks to accelerate the development of the technology to cut emissions.Carbon capture has…
Italian oil company Eni and Australia-based Santos on Monday agreed to jointly seek cooperation opportunities in Australia and East Timor.Under the non-binding memorandum of understanding, the companies will look at potential optimizations, synergies…
Investors in Australia's top two independent oil and gas producers on Thursday rejected an activist group's push to get the companies to spell out plans to wind down their operations to help curb global warming.The resolutions were ultimately…
Australia's oil and gas explorer FAR Ltd on Thursday postponed a vote on the sale of its stake in an oil project off Senegal for the third time while investors study a takeover offer from private investment firm Remus Horizons.Remus' A$209.6 million ($161…
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