Oil & Gas

Chevron is planning a phased shutdown of the production trains at its Gorgon LNG plant after striking an agreement with state government safety regulators.

BHP's full-year profit has slipped four per cent and it expects its major revenue earner, iron ore, will have less demand from China and greater competition from Brazil.

The state government says it will cover some of the infrastructure costs related to Perdaman Group's $4.6 billion urea plant on the Burrup Peninsula.

Woodside has moved to acquire a majority stake in its Sangomar joint venture, paying $428 million to obtain UK-based explorer Cairn Energy's interest in the project.

The owners of the giant Waitsia gas field intend to export half the gas rather than reserve it for the domestic market after securing state government approval for their plans.

UK-based engineering firm SRJ Technologies is planning to list on the ASX next month after launching an $8 million initial public offering.

Woodside Petroleum has reported a net loss of $US4.1 billion ($A5.7 billion) in the first half of 2020, despite achieving record output in the six months to December 30.

Taxpayer money could be put on the line to support gas projects as Australia recovers from the economic shocks of coronavirus.

Chevron may need to temporarily halt production at its Gorgon gas plant after being ordered by government regulators to undertake further inspections and repairs.

A government review has recommended new levies to ensure the proper decommissioning of offshore oil and gas facilities, after the owner of the Northern Endeavour went into liquidation.

Oil and gas player Shell is purchasing a Perth-based environmental services firm to help cut back on emissions, as well as further the company's nature-based solutions business.

As the big offshore gas projects planned for WA's north face more delays and uncertainty, the prospects for developing onshore gas fields in the Perth Basin get better.

Strike Energy project partner Talon Petroleum has raised $5 million from a share placement to fund an upcoming drill program in the Perth Basin.

Adelaide-based Santos has reported an 18 per cent drop in second-quarter revenue due to lower realised prices for its oil and gas.

CIMIC Group's maintenance and turnaround specialist business has secured $180 million in work, including at BP Australia's oil refinery in Kwinana.

The engineering consortium that built the Ichthys LNG plant has lost a Court of Appeal case relating to $1.5 billion worth of claims against three contractors.

Beach Energy said its earnings and oil production will be slightly below previous full-year guidance due to the impact of the coronavirus pandemic and low oil prices.

The state government said today it was planning a safety inspection of Chevron's giant Gorgon LNG project as soon as possible after reports hundreds of cracks had been found in propane heat exchangers.

Santos will book non-cash impairments of up to $US800 million ($A1.1 billion), joining a number of global energy majors forced to write down assets.

Cooper Energy says it and Japan's Mitsui Group will invest $37 million to upgrade the Minerva Gas Plant near Port Campbell, Victoria to process gas from four existing offshore gas wells.

UPDATED: Seven companies including Woodside, BHP and ATCO Australia have been shortlisted to share in the next stage of ARENA's $70 million Renewable Hydrogen Development Funding.

Strike Energy has signed an agreement with ASX-listed Talon Petroleum, which will begin drilling the Walyering appraisal well in the Perth basin next year.

A Perth company that has developed a digital trading platform for the global LNG market has secured financial backing from Shell, Tattarang Group and Woodside Petroleum.

Origin Energy will book impairments of $1.2 billion after tax, joining other energy majors that have cut the value of their assets after a coronavirus-induced drop in oil and gas prices.

Low energy prices have caused $US4.4 billion of write-downs for Woodside Petroleum, as the company gave the markets an insight into valuations of major operations today.

Oil Search plans to write off up to $US400 million ($A576 million) due to the outlook for oil and gas prices and the shutdown of a gold mine.

Two major contractors in the oil and gas sector, Technip Oceania and DOF Subsea, are facing legal action over their safety practices on the Wheatstone and Ichthys gas projects.

Vikas Rambal's dream to build a $4.5 billion Pilbara urea plant is forging ahead, with his Perdaman Industries appointing construction contractors, and flagging a mid-2021 final investment decision.

Events are conspiring to shift momentum regarding a proposed east-west gas pipeline.

Woodside Petroleum has promoted four executives in its leadership team, with Meg O'Neill to be executive vice-president of the merged marketing and developments divisions.

Construction technology developed in Perth will be used by an Italian contractor after a deal worth up to $1 million was signed last week.

Chevron may have fired the starter's pistol on a major ownership reshuffle of the North West Shelf Venture, after it announced it would put its 16.7 per cent stake in the operation, which includes a 16.9 million tonnes per year LNG facility near Karratha, on the market.