Oil & Gas

Oil steadies but outlook grows gloomy

Oil prices rose slightly as global markets steadied, recovering some of the previous day's two per cent slide, though a weakening outlook for crude demand kept prices in check.

Browse, Scarborough to bring 19mtpa capacity

Woodside Petroleum has further fleshed out its plans for the Scarborough and Browse LNG developments, as it reported a 6.7 per cent lift in half yearly profit.

Oil slips on strong US dollar pressure

Oil prices have edged lower, weighed down by a strengthening US dollar as investors remained concerned about the financial crisis in Turkey.

Squadron JV lifts Canning Basin stake

A joint venture between Minderoo Group-owned Squadron Energy and Goshawk Energy has been awarded a series of petroleum tenements in the Canning Basin.

Carnarvon reveals Buffalo potential

Shares in Carnarvon Petroleum have regained some of yesterday’s losses, after the oil and gas explorer revealed plans for its lesser known Buffalo project in the Timor Sea.

Doris engineering Perth opportunities

Paris-based upstream oil and gas engineering business Doris Engineering has set up shop in Perth as it prepares for the next wave of local major projects to get under way.

Oil edges lower on demand fears

Oil prices have fallen after data suggested inventories at the US crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand.

$130bn of major projects in WA

Nearly 140 major projects are either under way or planned for WA, new research by Business News has found. Click through to access the new list on the BNiQ Search Engine.

APA accepts $13bn offer from CKI

The board of APA Group has accepted a $12.98 billion takeover offer from a consortium led by Hong Kong's CK Infrastructure (CKI), in a deal that will see major gas pipelines in WA sold to a new owner.

Oil up on Iran sanctions

Crude oil prices rose more than one per cent on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy.

Oil slips as trade worries weigh on market

Crude oil prices are slightly lower, extending the previous session's losses as the escalating China-US trade dispute casts doubt over the outlook for oil demand.

Wood gets Scarborough contract

Woodside Petroleum has signed up engineering company Wood to prepare development plans for the Scarborough gas field, with the work to be split between offices in Houston and Perth.

Risco ups Tap offer to $39m

Tap Oil major shareholder Risco Energy Investments has increased its takeover offer for the oil and gas company to $38.7 million on the back of BDO’s independent expert valuation.

Oil prices fall as Chinese demand slows

Oil prices slid about three per cent on Wednesday as a trade dispute between the United States and China escalated further and after Chinese import data showed a slowdown in energy demand.

Carnarvon shares soar again

Carnarvon Petroleum has announced another oil discovery at its Dorado-1 well in the Carnarvon Basin, with the company’s share price having more than quadrupled in the past month.

Oil rises after Saudi crude output fall

Oil futures have gained after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the US prepares to reinstate sanctions against major exporter Iran.

Oil prices pull back amid trade tensions

Crude futures pulled back, giving up gains from the previous session as trade concerns weighed on the market and fueled concerns about demand.

Oil rallies on hopes inventories will drop

Oil prices have strengthened, with US crude gaining nearly 2 per cent after traders saw an industry report suggesting domestic crude stockpiles would soon decline again.

Otto raises $20m

Otto Energy has tapped investors for $20 million, with the proceeds set to be spent on drilling programs across the company’s projects.

Oil falls on rising supply, trade tensions

Oil prices fell about 2 per cent as a surprise increase in US crude stockpiles fed concerns about global oversupply, while investors worried that trade tensions could hit energy demand.

Bhagwan expands fleet

Marine services company Bhagwan Marine has expanded its fleet with the purchase of two specialist vessels that are larger than others in its current fleet.