Oil & Gas

Brent rises on supply concerns

Brent crude prices settled slightly higher on Tuesday after a volatile session in which potential supply concerns surrounding Venezuela and Iran jockeyed with comments from President Donald Trump, who said he was not pleased with US-China trade talks.

Buru, Roc in $84m Canning Basin oil deal

West Perth-based Buru Energy has sold a 50 per cent share in its Ungani oilfield to Chinese-backed Roc Oil for $64 million, as part of a broader deal the company hopes will unlock its assets in the Canning Basin.

Oil rallies on Venezuela supply worries

US crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.

Harbour raises bid for Santos to $US10.9bn

US private equity firm Harbour Energy has raised its bid for Santos to about $US10.9 billion ($A14.5 billion) on condition the local energy firm increases its oil price hedging for the next two years.

Oil falls, but analysts expect a bounce

Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains, boosted by plummeting Venezuelan production, strong global demand and looming US sanctions on Iran.

Oil falls back from 3.5-year record high

Oil prices climbed above $US80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and climbing US output to end unchanged.

Santos receives binding $US10.4bn offer

US private equity firm Harbour Energy has made a binding offer for Santos that confirms an original price tag of $US10.4 billion ($A13.8 billion).

Emotive issues all talk

A renewed activist focus on the carbon sequestration efforts on Barrow Island is, like many populist arguments these days, abusing language to stir up emotions.

Oil gains after crude, petrol stocks fall

Oil prices have gained ground, shaking off the effects of a strengthening dollar, after an inventory report showed US crude and petrol stocks fell more than expected.

Tap board rejects $30m takeover

The board of Tap Oil has recommended shareholders reject a $29.8 million takeover from major shareholder Risco Energy Investments, saying the proposal is opportunistic and undervalues the company.

Oil price rise rouses small players from their slumber

A bump in the oil price has reinvigorated the fortunes of several small oil and gas explorers in WA.

Oil prices rise on US stockpile concerns

Oil prices settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that US sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.

Chevron proposes shared offshore pipeline

Chevron Australia managing director Nigel Hearne has proposed a major shift in the development of WA’s offshore gas reserves, suggesting the industry should collaborate to build a multi-user pipeline to be shared by multiple LNG producers.

Yujnovich calls for stronger industry voice

Shell Australia chair Zoe Yujnovich told today’s APPEA conference the oil and gas industry needed to be more active in defending its record, as protesters came together outside the Adelaide conference.

Oil prices gain as oversupply ends

Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while US crude's discount to global benchmark Brent widened to more than $7, its deepest in five mont

Oil prices as Iran sanctions fears ease

Crude prices fell in a see-saw session on Friday, retreating after early gains as it looked likely that US allies would push to maintain a deal with Iran, which could keep that country's crude exports on global markets.

Carnarvon in $20m raising

Carnarvon Petroleum has boosted its coffers with a $16 million capital raising to fund drilling at its Buffalo oil field in the North West Shelf, while also announcing a share purchase plan to raise up to $4 million.

Oil prices edge higher on supply worries

Crude prices ended the session slightly higher on Thursday as investors weighed the potential disruption to oil flows from major exporter Iran in the face of US sanctions.

Western Gas searching for Equus partner

Perth company Western Gas is on the hunt for a partner for its Equus gas field project off the WA coast, and has revealed a new development plan, with first gas expected in 2023.

Antilles in $6.3m backdoor listing

Antilles Oil and Gas has announced plans to acquire aged care technology company HomeStay, which counts Fastbrick Robotics chair Shannon Robinson among its directors.

Oil jumps 3% after US quits Iran deal

Oil prices rose about three per cent on Wednesday and hit fresh three-and-a-half year highs after a bigger-than-expected drawdown in US oil inventories extended gains from the United States' decision to quit a nuclear deal with Iran.