Puma Energy Sells Fuels Business to Chevron Australia
Singapore's Puma Energy, the retail and midstream arm of global commodities trader Trafigura, said on Thursday it would sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million ($288 million).Puma Energy is 49%-owned by Geneva-based Trafigura, which is under pressure to rebalance its books after a decade-long buying spree.Trafigura last week reported its lowest annual net profit in nearly a decade after a string of losses in its physical asset portfolio.Puma Energy was among Trafigura's loss-making businesses, with a net loss of nearly $500 million for the nine months to Sept.
Chevron Starts Gorgon Stage Two Drilling
Chevron Australia and the Gorgon joint venture participants have started the Gorgon Stage 2 drilling campaign off the northwest coast of Western Australia.Gorgon Stage Two is an expansion of the existing subsea gas gathering network on the Chevron-led Gorgon facility and is part of the project’s original development plan.Chevron Australia Managing Director Al Williams said the campaign will drill 11 additional wells in the Gorgon and Jansz-Io gas fields to maintain long-term natural gas supply to the 15.6 million tonnes per annum LNG and domestic gas plants on Barrow Island.The development…
Chevron Names Green President of N. America E&P
Steven W. Green has been named president of Chevron North America Exploration and Production, succeeding Jeff Shellebarger, who is retiring from Chevron after 38 years of service.Green will transition from his current role as president of Chevron Asia Pacific Exploration and Production to oversee the oil major's exploration and production activities throughout North America, including Canada, California, the Gulf of Mexico, Pennsylvania and the Mid-Continent region of the U.S. He will report to Jay Johnson, Chevron’s executive vice president, Upstream.Nigel Hearne will succeed Green as president of Chevron Asia Pacific Exploration and Production.
Woodside Energy GWF-2 Commences Production
Australian oil and gas company with a global presence Woodside announced that the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia has commenced gas production.A press release from the operator of the North West Shelf (NWS) project quoted its CEO Peter Coleman saying that the project has been delivered $630 million below the expected cost of approximately $2.0 billion (100% basis) and six months ahead of schedule.“The project team has done an outstanding job executing and delivering GWF-2, which represents the next phase in gas supply to the NWS Goodwyn A platform…
Transocean Signs 11 Well Contract with Chevron Australia
The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia.The estimated firm contract backlog, excluding integrated services, is approximately USD 158 million. Additionally, the contract includes four one-well options.Two days ago, Transocean announced that the midwater semisubmersible Transocean 712 was awarded a 13-well contract (approximately 580 days) commencing in March 2019 in the U.K.
Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6 million tonne a year LNG plant on Barrow Island.The $54 billion Gorgon project came on stream in March 2016 but suffered numerous unplanned shutdowns in its early stages.Chevron declined to put a cost on stage two of the project…
Chevron: Gorgon LNG Export Plant Still Suspended After Leak
Production remains suspended at Chevron Corp's $54 billion liquefied natural gas (LNG) Gorgon export facility in Australia following a gas leak nearly two weeks ago, a company spokesman said. "Production at the Gorgon LNG plant site has been temporarily suspended while the company undertakes some minor repair and maintenance work," said spokesman Bradley Haynes. Gorgon had stored LNG and was still able to export its second ever cargo on July 3 aboard the Marib Spirit tanker, but there have been no exports since. "Gorgon finally shipped its second cargo at the start of July on the Marib Spirit (under term charter to Shell).
Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years, with deliveries starting in 2018 or the first half of 2019. “This is one more step in the development of our Australian gas business and our global LNG portfolio,” said Mike Wirth, executive vice president, Chevron Midstream and Development.
Chevron, China Huadian Sign LNG Supply Deal
Chevron Corporation's wholly-owned subsidiary, Chevron U.S.A. Inc., has today signed a non-binding liquefied natural gas (LNG) supply Heads of Agreement (HOA) with China Huadian Green Energy Co., Ltd. When the agreement is finalized, China Huadian Green Energy is expected to receive up to 1 million metric tons per annum (MTPA) of LNG over 10 years starting in 2020. "This is an important step in the commercialization of Chevron's natural gas holdings in Australia and the establishment of our global liquefied natural gas portfolio," said Pierre Breber, executive vice president, Chevron Gas and Midstream.
Woodside: Green light for NWS project
Woodside, as Operator of the North West Shelf (NWS) Project, advises that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia. The GWF-2 Project will develop 1.6 trillion cubic feet of raw gas (2P 100% project basis) from the combined Keast, Dockrell, Sculptor, Rankin, Lady Nora and Pemberton fields using subsea infrastructure and a 35 km, 16” pipeline connecting to the existing Goodwyn A platform. The total investment for the project is expected to be approximately US$2.0 billion (Operator’s estimate;100% cost), with initial project start-up expected in 2H 2019.
Energy Industry Funds Tropical Cyclone Research
Global energy companies have joined forces to fund new research aimed at advancing tropical cyclone forecasting in Northern Australia to further improve offshore safety and mitigate costly disruptions to operations. Results from the industry-driven research are expected to enhance tropical cyclone response planning and public weather forecasting services for the wider community. The Industry Technology Facilitator (ITF) has led the collaboration to secure funding for the two-year AU$3.2 million project, which will be carried out by the Australian Bureau of Meteorology. This project builds on the Bureau’s research into tropical cyclone forecast and warning services.
Chevron, SK LNG Trading Ink Deal for LNG Supply
Chevron Corporation today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15 million tons of LNG over a five-year period starting in 2017. During the time of this agreement, over 75 percent of Chevron’s equity LNG from Gorgon will be committed to customers in Asia. “This agreement is an important step in the commercialization of Chevron’s significant natural gas holdings in Australia,” said Pierre Breber, president, Chevron Gas and Midstream.
North West Shelf to Process 3rd Party Gas
Woodside, as operator of the North West Shelf (NWS) Project, informed that the NWS Project participants today signed a non-binding Letter of Intent with Hess Exploration Australia Pty Ltd to process resources from Hess’ permits in the Carnarvon Basin. The Letter of Intent specifies the proposed terms, including tariff fees, to toll resources from WA-390-P, WA-474-P, and potentially other permits, through the NWS Project’s Karratha Gas Plant. It is intended that, subject to the parties entering into binding agreements, Hess will deliver gas to the NWS Project’s offshore infrastructure for processing at the Karratha Gas Plant and will market and deliver its own volumes.
NWS Approve Persephone Project
participants have approved the Persephone Project off the north-west coast of Australia. The Persephone Project is the third major gas development for the NWS Project in the past six years, demonstrating the joint venture’s commitment to maximising the value of Australia’s largest operating oil and gas project. The project will involve a two well, 7km subsea tieback from the Persephone field to the existing North Rankin Complex. The total investment for the project is expected to be approximately A$1.2 billion (Operator’s estimate; 100% cost), with project start-up expected in early 2018.
Rhonda I. Zygocki Retires from Chevron
Chevron Corporation announced today that Rhonda I. Zygocki, executive vice president, Policy and Planning, has elected to retire from the company after 34 years of outstanding service effective Feb. 1, 2015. The company also said it is making new reporting assignments for several executives. "Over the course of her career, Rhonda made many significant contributions to our business and distinguished herself as one of our most versatile and proven leaders," said John Watson, Chevron's chairman and chief executive officer. Zygocki is a native of St. John's, Newfoundland, Canada.
Chevron Announces New Executive Assignments
Rhonda I. Chevron Corporation announced today that Rhonda I. Zygocki, executive vice president, Policy and Planning, has elected to retire from the company after 34 years of outstanding service effective Feb. 1, 2015. The company also said it is making new reporting assignments for several executives. "Over the course of her career, Rhonda made many significant contributions to our business and distinguished herself as one of our most versatile and proven leaders," said John Watson, Chevron's chairman and chief executive officer. Zygocki is a native of St. John's, Newfoundland, Canada.
High-cost Australia May Miss LNG Expansion
Stung by soaring costs, the gas industry paints a gloomy outlook for new liquefied natural gas (LNG) projects in Australia, putting at risk $180 billion of developments from 2018 onwards. While Australia enjoys political stability and is close to Asian customers, big cost overruns at a series of giant offshore projects have dismayed companies like Chevron, ExxonMobil Corp and France's Total SA. "This wage growth is what is currently crippling Australian industry and is simply not sustainable," Chevron Australia Managing Director Roy Krzywosinski said to a chorus of approval at the Australian Petroleum Production and Exploration Association (APPEA) conference this week.