Australia is making a major bet on biofuels as part of its net-zero ambitions. On Wednesday, the government announced it will invest A$1.1 billion (US$735 million) over the next decade to develop a domestic low-carbon fuels industry, a move widely welcomed by the country’s powerful agricultural sector.
“Across the nation, we have 2 billion litres worth of projects in the pipeline, many of which are ready to scale up production. A new thriving domestic industry is within our reach,” said Minister for Climate Change and Energy Chris Bowen.
Shell Plc is exploring the sale of its interest in the A$34 billion ($22 billion) North West Shelf liquefied natural gas export plant in Western Australia, according to people with knowledge of the matter.
Falcon Oil & Gas Ltd. has completed successful flow-rate tests and commenced its 2025 drilling campaign in Australia’s Beetaloo sub-basin, the company announced Monday.
Buru Energy Ltd. has executed a Strategic Development Agreement (SDA) with Clean Energy Fuels Australia Pty. Ltd. (CEFA) to co-develop the Rafael gas project. The project is located in the Canning Basin, some 150 kilometers (93.2 miles) east of Broome and approximately 85 kilometers (52.8 miles) south of Derby in the Shire of Derby-West Kimberley, Western Australia.
The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply.
Orsted, RWE, BlueFloat Energy and Corio Generation and an RES JV have been granted feasibility licences from the Australian government for the development of offshore wind farms.
Lithium exploration is set to kick off in the West African country of Ghana. The license for the exploration has been granted to the Australia-based lithium-focused exploration and development company, Atlantic Lithium Limited.
AIM-listed Mosman Oil and Gas, the hydrocarbon, helium and hydrogen exploration, development, and production company, has provided an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased 84% to circa 221 boepd (30 day average flow rate in April). This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.
-Exxon Mobil Corp XOM.N on Tuesday gave a dire warning about the outlook of Australia’s domestic gas supply, joining other gas producers in calling for policy stability and more investment in the sector.