Colombia Coal Output falls 11.7%
Colombia, the world's fifth-largest exporter of coal, produced 19.6 million tonnes in the first quarter, down 11.7 percent from output the year before, the Energy and Mining Ministry said in a statement on Wednesday. In the same period last year, Colombia produced 22.2 million tonnes. In full-year 2017, the Latin American nation produced 89.4 million tonnes, slightly below 2016 when output was 90.5 million tonnes.
ExxonMobil Considers Importing LNG to Australia
ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no.2 energy retailer AGL Energy to start importing LNG by 2021 and a consortium involving Japan's JERA to start imports from 2020.ExxonMobil…
Trump's State Department Energy nominee Approved by Senate Panel
President Donald Trump's nominee for the top U.S. State Department job dealing with matters related to energy and the global oil industry was approved by a Senate committee on Wednesday, as the United States gears up to re-impose sanctions on Iran's oil exports. The Senate Foreign Relations Committee approved Francis Fannon, a former head of corporate affairs at mining company BHP Billiton and senior director of Murphy Oil Corp…
AGL Decision on LNG Import Terminal Expected in FY2019
AGL Energy Ltd, Australia's biggest power producer, expects to make a final investment decision on the country's first liquefied natural gas (LNG) import terminal in the financial year of 2019, a company official said on Friday.The A$250 million ($189 million) project will consist of a leased floating storage and regasification unit (FSRU) and jetty at Crib Point in the southeastern state of Victoria.
Pemex Seeks Oil Projects in Americas
Mexico's Pemex is looking for oil projects in the United States, Brazil, Colombia and Argentina to keep up output after an energy reform that means it is sharing more domestic production, a top executive from the state-run oil company said on Wednesday. Exploration chief Jose Antonio Escalera mentioned Argentina's giant Vaca Muerta shale play as an interesting project where Pemex could jump into a partnership.
BHP Profit Surges, but Looks to Exit U.S. Shale
Underlying net profit jumps to $6.7 bln from $1.2 bln. BHP Billiton, the world's largest miner, reported a surge in underlying full-year profits on Tuesday and said it would exit its underperforming U.S. shale oil and gas business, pleasing disgruntled shareholders who had called for a sale. The Anglo-Australian mining giant, which is under pressure from U.S. hedge fund Elliott Management to rethink its investment in oil and boost shareholder returns…
U.S. Drillers Cut Rigs ahead of Hurricane - Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row ahead of Hurricane Harvey and as a more than year-long recovery in drilling slows down in reaction to soft crude prices. Drillers cut four oil rigs in the week to Aug. 25, bringing the total count down to 759, General Electric Co's Baker Hughes energy services firm said in its report on Friday. That compares with 406 active oil rigs during the same week a year ago.
BHP hires Barclays, Citi for U.S. shale gas divestment
BHP Billiton has hired Barclays and Citigroup to help it exit its underperforming U.S. shale oil and gas business, which could fetch around $10 billion, two banking sources said. U.S. activist investor Elliott Advisors, which has built up a 5 percent stake in BHP's London-listed arm, has urged changes including divestment of its U.S. petroleum business and ending its dual listing in Britain and Australia, to boost shareholder value.
BHP Billiton to Resume Production on GoM Platforms
Australian oil producer BHP Billiton started mobilizing staff to its Neptune and Shenzi platforms at the Gulf of Mexico after Hurricane Nate, expecting to make progress on resuming output over the next 24 hours, the firm said on Monday. BHP Billiton on Friday completed the evacuation of the oil platforms ahead of Nate, which made landfall on Saturday at the mouth of the Mississippi river. Reporting by Marianna Parraga
NAFTA Doubts Impact Mexico Oil Tenders
Uncertainty about the fate of the North American Free Trade Agreement (NAFTA) and investor protections it guarantees could crimp future investment in Mexico's oil industry, including a high-stakes January deepwater auction. Ahead of a fifth round of NAFTA talks in Mexico City in mid-November, Washington's tough demands that partners Canada and Mexico resist has clouded the future…
ExxonMobil, Chevron, Shell Paid No Tax in Australia for 2016
Oil, gas giants paid no Australian tax in 2016; but commodity rebound seen boosting tax revenue in 2017. Exxon Mobil Corp and Chevron Corp paid no tax in Australia in the 2016 financial year, the third year in a row, despite reporting billions of dollars in income from operations in the country, a report from the tax office showed on Thursday. Exxon Mobil, which has oil and…
ExxonMobil, BHP End Australia Gas Sales JV
ExxonMobil, BHP avert court action by regulator. ExxonMobil Corp and BHP Billiton Ltd have agreed to end a nearly 50-year-old gas marketing joint venture in Australia, bowing to pressure from the nation's competition watchdog amid concerns about gas supply and soaring prices. The Australian Competition and Consumer Commission (ACCC) and the companies said on Monday they would start marketing their gas from the Gippsland Basin separately, starting in 2019.
BHP Likely to Quit Coal Lobby
World Coal Association says disagrees with BHP; but Australian green groups have added to anti-coal pressure. MELBOURNE, Dec 19 (Reuters) - Global miner BHP Billiton said on Tuesday it has taken a preliminary decision to leave the World Coal Association citing disagreement over climate change, and might also withdraw from the U.S. Chamber of Commerce over mining industry rules.
BHP, ExxonMobil to Retain Aussie Oil & Gas Assets
BHP Billiton Ltd and ExxonMobil Corp's Esso Australia said on Friday they have dropped a sale process started 20 months ago for some of Australia's oldest and largest oilfields. "BHP and Esso have reached a decision to not progress with the sale of some offshore assets owned by the Gippsland Basin Joint Venture," a BHP spokeswoman said in an email. The resource giants had said they were looking to sell 13 fields…
For Coal Miners, it's Time to Exit or Get Rich: Russell
It seems coal miners are adopting one of two disparate strategies, either exit the business in a highly visible way to buff up your climate credentials, or sit tight, keep as quiet as possible and rake in the cash. An example of the public exit from the business is South32 , the Perth-based miner spun out of BHP Billiton which is in the process of selling out of its thermal coal assets in South Africa.
Pemex Seeks Offshore Deepwater Partners
Mexico's state-run oil company Pemex plans to reach out to existing partners to form new joint ventures for a pair of deepwater blocks it won in a January auction, the company's chief told Reuters on Monday. Pemex is running out of time to find partners for key oil and gas projects as the government looks to show progress from its energy agenda ahead of a July presidential election.
Shell, Blackstone in Joint Bid for BHP's Shale Assets
Royal Dutch Shell Plc and American private equity firm Blackstone Group LP are working on a joint bid for BHP Billiton Plc's U.S. shale assets for $10 billion, Sky News reported. The shale auction is expected to lead to a deal later this year, Sky News said. BHP had put up the U.S. shale assets for sale last year. BHP declined to comment. Shell and Blackstone could not be immediately reached for comment. Reporting by Sangameswaran S
US States Slow Trump Offshore Oil Drilling Expansion Plan
The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slowly due to opposition from coastal states and indifference from oil companies that have turned their focus to other opportunities. The administration hopes encouraging U.S. energy development outside of shale oilfields will further its goal of "energy dominance." But existing Obama administration lease rules remain in place through 2022 unless the new rules gain approval.
ExxonMobil Expects to Resume Paying Australian Corporate Tax in 2021
ExxonMobil Corp said on Wednesday it is likely to resume paying corporate tax in Australia only in 2021, after recouping billions of dollars in investments made in the country in the past decade. The oil giant was grilled at an Australian Senate hearing on tax avoidance, after having paid no tax since 2013, despite reporting billions of dollars in income from operations in the country.
Mexico's Pemex to Operate Two Shallow Water Projects With Partners
Mexican national oil company Pemex plans to operate at least two new blocks it won with partners in a shallow water auction on Tuesday, the company's exploration chief said in an interview. Pemex expects to invests as much as $300 million overall in a four-year exploration phase for the seven contracts it won, more than any other company, said longtime head of exploration, Jose Antonio Escalera.