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International

Calima cleaning up final shares in Canadian partner acquisitions

ASX-listed Calima Energy Limited has moved a step closer to full ownership of its partners in the company’s promising Canadian oil and gas project by moving to compulsory acquire the remaining shares in TMK Montney Limited (TMKM) and TSV Montney Limited (TSVM). Calima announced the “friendly” takeover offers to the ordinary shareholders of each of TSVM and TMKM in May 2018 and has noe acquired 98.08% of TMKM’s and 91.20%

Australia’s resources and energy exports hit record levels

AUSTRALIA’S resource and energy export figures are on track to set a new record of $226 billion in 2017–18 – and go even higher this year – according to an in-depth Government report released. Minister for Resources and Northern Australia Matt Canavan said strong demand and prices for LNG, iron ore and coal in particular were pushing total exports from the sector to the new records. “It is likely coal

Calima to benefit from $72 billion of proposed investment in Western Canadian gas pipeline infrastructure

A STRATEGIC review undertaken by Australian oil and gas company Calima Energy Limited has identified a number of new opportunities to support its proposed development of its large land-holding in the hydrocaron rich Montney play in Canada. Calima, which is targeting becoming a gas and condensate producer within the next six months, has identified more than C$70 billion (approx. A$72 billion) of proposed infrastructure investments potentially adding more than 8

Wood Mac says LNG market looking strong as China takes up the slack

LEADING oil and gas research firm Wood Mackenzie is forecasting a rebalancing of the LNG market with fears of oversupply beginning to ease. According to Massimo Di Odoardo, Wood Mackenzie’s VP Global Gas and LNG, record demand from China has absorbed a large part of the additional 33 million tonnes (mt) of LNG supply in 2017, with the question being can it continue to support the market? “We think yes

Exxon aiming to double earnings capacity by 2025

EXXONMOBIL has revealed plans to more than double its earnings potential by 2025. The company’s chairman and CEO Darren Woods told shareholders during the company’s annual meeting that the world’s growing energy needs will require trillions of dollars in new investment across industry, even under a scenario to limit the global increase in temperature to two degrees Celsius. Mr Woods said the company will continue to focus on investments that

Philippine President starts new Cebu onshore oil and gas field

PHILIPPINE President Rodrigo Duterte was on hand to turn the valves for the official start-up of production at the Alegria Oilfield in southern Cebu island. The President was joined by the Secretary of the Department of Energy (DOE) Alfonso Cusi at the inauguration ceremony which signaled the start of the commercial production of oil and gas in the oilfield, which is currently being operated by China International Mining Petroleum Limited

The State of Exploration in 2018 – a renewed optimism

Westwood Energy has released its 2018 State of Exploration Report, the ninth edition of the definitive report covering global conventional oil and gas exploration. Key conclusions from the report are: • Exploration drilling activity in 2017 was little changed compared to 2016 but performance was strong with discovered volumes more than double that of 2016, overall commercial success rates rising to a record high of 47% and record low finding

Three train LNG expansion in PNG to move to FEED soon

LEADING PNG oil and gas company Oil Search Ltd believes a proposed three LNG train expansion and development will be ready to enter FEED in the second half of this year. Oil Search’s managing director, Peter Botten, told a company meeting today that the various partners in the PNG LNG and Papua LNG ventures had now agreed on the three train concept. The be constructed in the PNG LNG plant

Exxon drills seventh offshore Guyana discovery

EXXON Mobil Corporation has announced today its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. The company encountered approximately 20 m of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 5,597m depth in 2,067m of water. “This latest discovery further increases our confidence in developing this key area of the Stabroek Block,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Pacora will be developed

First discovery of live oil onshore Jamaica

CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica. This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean. The oil seeps were found during fieldwork for a recently completed