Energy

Diversified energy company Pan Asia Corporation announced today that it has entered in to a heads of agreement with Glory Merry for the sale of its Innovation West Mantewe subsidiary, which has a 75 per cent interest in Indonesian mining operation Transcoal Minergy. 

Shares in Zenith Energy were up 10 per cent to 55 cents after the remote generation operator listed on the ASX today, with the company planning to use the $25 million it raised to move into renewables and microgrid technology.

Engineering company Monadelphous Group has been awarded a contract to provide offshore maintenance services to the Ichthys LNG project by oil and gas company INPEX.

Southern Cross Electrical Engineering, through its KSJV joint venture with energy service provider Kentech, has received over $30 million of additional orders under a subcontract with Bechtel.

Woodside Petroleum managing director Peter Coleman has sketched out plans to convert the two LNG plants on the Burrup Peninsula into an integrated processing hub that would take gas from the Browse Basin and other undeveloped fields off the Western Australian coast.

The WA Independent Power Association has called for the state government to block a plan by public generator Synergy to set up a new renewable energy fund, while supporting a move to reduce Synergy’s capacity.

West Perth-based Liquefied Natural Gas has scored a tick from a US regulator for initial site work at its Magnolia project in Louisiana, although a final investment decision won't be made until it has finalised offtake partners.

Perth entrepreneur Steve Tobin is gearing up for an expansion of oil and gas and minerals exploration in Australia, after selling a majority stake in Terrex Seismic to a private equity group to fund the acquisition of what he believes is a breakthrough technology.

ANALYSIS: With abundant supplies of energy and the raw materials growing Asian economies need, WA is set to ride out the economic headwinds facing the eastern states.

Junior explorler Azonto Petroleum has announced plans to farm-in to an oil and gas project in Canada through the acquisition of one of the project’s joint venture partners, which is owned by Perth executive Alan Stein.

Origin Energy has sold its under-development Darling Downs solar farm in Queensland to gas pipelines operator APA Group, but will buy all the electricity generated by the project until 2030.

A new report has rejected changes to tax rules that some advocates say could have reaped billions of dollars in extra revenue from the LNG industry.

Premier Mark McGowan has gently chided the mining and energy sector, saying it needs to lift support for local manufacturing, apprentice training and local employment.

Major gas exporters on the east coast have promised to ensure higher domestic supplies, but the industry has slammed the federal government's new restrictions on gas exports.

Chevron Australia has lost its appeal of a 2015 Federal Court ruling regarding the company’s financial and taxation relationship with its US parent, although the company has not ruled out a High Court appeal.

Two days after Magnum Gas & Power ended plans to acquire private company Bombora Natural Energy, Perth-based Zeta Petroleum has revealed its own merger plans with the target.

A Chinese consortium is set to take control of the Dampier to Bunbury gas pipeline and several power stations across WA after regulators and shareholders today approved the $7.5 billion takeover of listed company DUET Group.

Carnegie Clean Energy has tripled the size of its capital raising to $18 million after accepting oversubscriptions from a share purchase plan and undertaking an additional placement.

Woodside Petroleum has engaged contractors to develop concept options for an expansion of the Pluto LNG facility for consideration as early as mid-year, while reporting an 11 per cent drop in March quarter revenue on the back of adverse weather and inventory build up.

Plans by private company Bombora Natural Energy to join the ASX through the acquisition by Magnum Gas & Power have fallen through after the deal was terminated by mutual agreement.

Oil and gas software developer Stochastic Simulation is expected to be put up for sale, two weeks after it was put into receivership. 

The Japanese owners of the Bluewaters Power Station near Collie face the prospect of substantial payments to the energy market operator, after an incident that has put one of its generating units out of service for up to six months.

Oil and gas explorer Transerv Energy is back looking for opportunities overseas after failing to achieve commercial success in Australia, announcing today a $4.9 million farm-in agreement over a producing operation in Canada.

An international hedge fund holding 4.1 per cent of the shares in BHP Billiton's UK-listed stock wants the global miner to scrap its dual listing in Australia and the UK and spin-off its US petroleum business for listing on the New York share market.

Offshore oil & gas: The marine logistics sector is yet to significantly rebound from the lower oil prices of the past few years, although positive signs are emerging.

Offshore oil & gas: Woodside Petroleum’s February launch of a new supply ship that can use liquefied natural gas as a fuel is an early move in what could be a larger focus on driving new market demand.

Offshore oil & gas: Three international players are among those to have won work for Woodside Petroleum’s Greater Enfield oil project since it was given the go ahead in the middle of last year.

Offshore oil & gas: The lack of new construction projects is not too much of a headwind for one helicopter operator.

Special Report- Offshore oil & gas: First gas at the final train of Chevron's Gorgon project and two potential significant Woodside-led brownfields LNG projects are positives for an offshore energy industry under pressure. Click through for four related articles on the sector.

Energy and infrastructure contracting group Valmec has secured $12 million in new contracts, including a $6 million deal with the Water Corporation.

Decmil Group has entered into a joint venture agreement with US-based SolarReserve for the construction of a 70-megawatt solar photovoltaic plant in NSW.

A lack of battery storage across the electricity network in Perth and surrounds is the most significant energy problem facing the state, according to recent research from the University of Western Australia.