OPEC, collaborators extend output restraint

Restraint of oil production by members of the Organization of Petroleum Exporting Countries and 10 cooperating nonmembers is to continue through 2018 under agreements reached Nov. 30 in Vienna. Source: News

China Energy makes takeover offer for AWE

Chinese state-owned China Energy Reserve & Chemical Group has made a $430-million (Aus.) takeover bid for Sydney’s AWE Ltd. AWE, which earlier this week announced the completion of a successful test evaluation of the Waitsia gas field in Western Australia, described the cash bid as “unsolicited, nonbinding, indicative, and conditional.” Source: News

Statoil lets contract for Northern Lights terminal

Statoil has let a contract to KBR Inc. for the concept and front-end engineering design of its Northern Lights onshore carbon dioxide storage terminal in Norway. The terminal is a key component of the carbon capture and storage demonstration project being undertaken by Gassnova, with Statoil, in partnership with Royal Dutch Shell PLC and Total […]

Beach farms into Cue Energy’s Ironbark prospect

Beach Energy Ltd., Adelaide, has signed a binding agreement with Cue Energy Resources Ltd. of Melbourne to farm into two exploration permits in the Carnarvon basin offshore Western Australia that contain the large Ironbark gas and condensate prospect. Source: News