Exploration write-offs attributed to Shell Australia's $212 million loss while Amity has chalked up another gas discovery in Turkey.
No word on the Epic Energy pipeline tariff decision from the Office of Gas Regulation but even so, CEO Sue Ortenstone won't be around to live through it as her turn in the hot seat, extended already, comes to an end. General manager David Williams takes the chair.
ChevronTexaco is handing its PNG reins to Oil Search and Esso, as it exits its portfolio in the country.
The Chinese confirmed their interest in the North West Shelf this week, as they also confirmed their first shipment from the cheaper, competing Sakhalin LNG plant.
The head of LNG buyer Kogas was arrested this week for allegedly accepting $125,000 in bribes, which may have ended what would have surely been a multi million dollar salary.
Study paid off this week for PHD student Paul Lyon who won a $20,000 European study package from Predrill Stresses International.
Eyebrows were seriously raised and brows furrowed in the Land of the Long White Cloud when Maori factions suggested, and got credible backing, for a royalty grab from oilfields they say were their traditional assets. Some wags suggested they were entitled to as much as they could take, provided they used traditional methods and tools, such as scooping oil from seeps with gourds.
It was not the news the sector wanted to hear the same week it was told it needed to triple its drilling rate just to replace reserves, and the week rumours flew about mass sackings at both Methanex and Shell Todd. However, it was good news for the Kahili partners who saw a 40% increase in flow rates from a production test of the well.
Todd may be taking more of the Pohokura action from OMV, and the partners may be allowed to jointly market the gas as their proposal received tentative endorsement from the Kiwi competition watchdog. The Crown also offered a few more exploration blocks up for bid while slapping a supervisory body over the ailing power generation sector.
Crossing the region, corrosion has been blamed for the leakage of 250,000 litres of diesel from BP's Kwinana refinery, which is not surprising considering the 45 year old tank was last inspected 10 years ago. Great news for the Cockburn Sound crabbers knowing their seafood salads will be coming pre-oiled from now on, but it won't be of the cold pressed, extra virgin type.
Finishing on good news and the doors are open for business at the neighbouring Australian Maritime Centre at Jervoise Bay. The 80 metre weatherproof shed has almost been completed and the first job, however humble, is on the hardstand.
