Australia

Chevron Corp. eclipsed Wall Street earnings expectations during the final three months of 2018, but it was its production report that set the tone, with Australian natural gas exports and Permian Basin production lifting output by 12% year/year.

Seeds for a new unconventional natural gas crop are being sown in Australia after repeal last year of a hydraulic fracturing moratorium opened up a fertile geological field in the southern continent’s counterpart to Alaska, the Northern Territory (NT).

Subsea wells have been opened at the Prelude floating liquefied natural gas (FLNG) facility in the Browse Basin off the northwest coast of Western Australia, according to Royal Dutch Shell plc.

A natural gas project offshore Australia, designed to boost domestic supply and potentially increase exports, has been sanctioned by ExxonMobil Corp.

Chevron Corp. has earmarked $20 billion for organic capital and exploratory spending in 2019, a near-$2 billion boost year/year, with $7.6 billion specifically targeting the U.S. upstream.

The liquefied natural gas (LNG) trade climbed to 38.2 Bcf/d worldwide last year, nearly 10% higher than in 2016 and the largest annual increase on record, according to the International Group of Liquefied Natural Gas Importers (GIIGNL).

Chevron Corp. is hitting the sweet spot for natural gas exports in Australia, in close proximity to thirsty Asian markets, and is in no hurry to look elsewhere for opportunities to expand, including on the U.S. Gulf Coast, the midstream chief said Friday.

Chevron Corp. and its joint venture partners plan to expand the Gorgon liquefied natural gas export (LNG) project off the northwest coast of Western Australia.

A formula for overcoming fear of hydraulic fracturing (fracking) surfaced from a sister Commonwealth Nation on Tuesday, in time for an inquiry launched earlier in March in a Canadian hotbed of unconventional natural gas development, British Columbia (BC).