Energy Transition

Woodside Petroleum: doubling down for a dirty decade

Woodside and BHP have responded to the energy transition by heading in opposite directions. Here are 13 takeaways about Woodside's future. They will need some luck.

LNG

Chevron's Gorgon CO2 injection fix needs more time, so more emissions

Chevron's Gorgon should be a showpiece of carbon capture and storage but five years after first LNG it is still not working properly and has another five-month extension from the regulator.

APPEA 2021 Perth

Santos fails to back up Barossa emissions reduction claim

Santos says attacks on its heavily-polluting Barossa LNG project "should be taken with a grain of salt" but will not substantiate its own claims that emissions have reduced.

WA Government

Ten tales of Woodside’s merry men: Mark, Bill and Ben

On the occasion of recent WA treasurer Ben Wyatt joining the Woodside board Boiling Cold reviews the top 10 wins for Woodside from WA Labor's first term.

Carbon Emissions

Ichthys gas supply plans to destroy Inpex emissions pledge

Inpex pledged in January 2021 to cut its emissions 30 per cent this decade while it was planning to boost CO2 from Ichthys LNG, which accounts for three quarters of its carbon footprint, by 30 per cent.

Carbon capture and storage

Santos internal analysis: $US1.6B Bayu-Undan carbon storage is low return and high complexity

Australian LNG producers are under pressure on emissions and decommissioning, and Santos wants to tackle both problems in one swoop at Bayu Undan, but it needs everyone to play along.

Energy Transition

MacTiernan defends WA Government backing gas…for now

WA hydrogen minister Alannah MacTiernan believes a viable green hydrogen industry will build community support for the State's economy relying less on gas.

Decommissioning

Tardy BHP ordered to clean up three oil and gas fields offshore WA and Victoria

Offshore regulator NOPSEMA has had enough of BHP's "limited action" and ordered the decommissioning of three fields, adding to the cleanup bill heading towards Woodside shareholders.

WA Government

McGowan won’t rule out favouring Woodside for carbon farming land

Woodside Petroleum needs massive amounts of land for carbon offsets and the WA Government appears to be laying out an exclusive red carpet for the LNG giant.

Decommissioning

WA onshore and coastal oil & gas clean up to cost billions

Santos and Chevron, through Varanus and Barrow Islands, have a big part to play in the clean up of 1000 oil and gas wells in WA, with about 300 ready to be plugged now.

Carbon Emissions

Gaps hold back EPA’s efforts to reduce carbon emissions from WA industry

WA's EPA is now restraining growth in carbon emissions from industry but it and State and Federal Governments need to do more to keep the State attractive to increasingly climate-concerned investors.

net-zero 2050

Decisions now lock in industry emissions for decades: here’s how to get them right

Thirty per cent of Australia's emissions come from industry like LNG and the Federal Government needs to start pushing change now to have any hope of achieving net-zero by 2050.

Carbon Emissions

Santos' oil Dorado is a lode of Scope 3 emissions

Santos wants to approve its $2.8B Dorado oil project off WA in mid-2022 but science and the law will provide hurdles to its 165 million tonnes of carbon pollution.

Carbon Emissions

Australia risks taking the wrong tack at Glasgow climate talks

When the world tries to agree on a response to climate change in Glasgow Australia's only power is to set an example, not be the slowest follower.

Carbon Emissions

Forrest dumps Kimberley fracking on climate concerns

Andrew Forrest's Squadron Energy is pulling out of plans to frack the Kimberley for gas citing climate concerns, but the minor partner may continue the work.

Decommissioning

BHP and Woodside deal will not escape tougher decommissioning laws

If Woodside absorbs BHP's oil & gas assets new laws ensure the massive decommissioning liability falls to one of the companies, not the Australian taxpayer, unlike the Northern Endeavour.

Gas

BHP and Woodside confirm sale of all BHP Petroleum under negotiation

BHP and Woodside are negotiating the complete transfer of BHP oil and gas assets in exchange for Woodside shares, but the deal is not done, indicating last-minute brinksmanship across the negotiation table.

Analysis

Is Woodside the next South32?

Speculation is mounting of a big Woodside-BHP deal next week. There may be lessons from South32, another destination for BHP's unwanted assets.

BP

BP’s Geraldton green hydrogen dream needs help

Green hydrogen has long term promise for WA but needs help to scale and escape the trap of being an expensive product with a limited market.

Climate Change

Unless we act now, a hotter, drier, more dangerous future for Australia awaits: IPCC

The latest science is clear: "Every fraction of a degree of global warming increases the likelihood and severity of many extremes...every effort to reduce greenhouse gas emissions matters."

Safety

Equipment failure injures two workers on Woodside's Ngujima-Yin oil vessel

Two Woodside offshore workers were injured when a 500kg load fell after a lifting appliance with unapproved modifications failed but Woodside reported only one injury to the safety regulator.

Project Management

Woodside limits Scarborough cost bump but is silent on risk

Woodside is now chasing investors in its $US12B Scarborough to Pluto LNG project, but they need to look beyond the headline number.

Safety

Out of control lift of Santos platform off WA could have killed

Terrifying video shows an offshore lift that went badly wrong off the WA coast in early July endangering workers hanging off a platform and those on the vessel.

Gas

Another job cull at Woodside

Employees across Woodside lost their jobs today, with many more expected to follow, as chief executive Meg O'Neill chases a 30 per cent cut in operating costs.

Woodside Petroleum

Woodside + BHP Aussie oil & gas: inspiration or desperation?

Buying BHP’s Australian oil and gas assets could allow Woodside to escape its lost decade, but its shareholders and Australian taxpayers should count their fingers after the handshake.