Australia's Northern Territory government said Dec. 3 a planned inquiry into the impact and possible risks of fracking will begin next week, and the practice will remain banned until it has been completed.
The resource-rich Territory's newly elected center-left Labor government banned fracking in September pending an investigation into whether the unconventional oil and gas drilling technique harms farm land or Aboriginal sites.
Companies including Origin Energy and Armour Energy, hold exploration acreage in the region, which has also attracted international firms including South Africa's Sasol and Japan's Inpex.
Fracking, which involves high-pressure injections of water, chemicals and sand into the ground, was banned permanently in Australia's southern state of Victoria earlier this year.
The 10-person panel will meet on Dec. 8 and determine the time frame for the inquiry, the government said in a statement.
Industry groups say reputable studies have found the practice is safe.
Recommended Reading
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.
BP Pursues ‘25-by-‘25’ Target to Amp Up LNG Production
2024-02-15 - BP wants to boost its LNG portfolio to 25 mtpa by 2025 under a plan dubbed “25-by-25,” upping its portfolio by 9% compared to 2023, CEO Murray Auchincloss said during the company’s webcast with analysts.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Chesapeake Slashing Drilling Activity, Output Amid Low NatGas Prices
2024-02-20 - With natural gas markets still oversupplied and commodity prices low, gas producer Chesapeake Energy plans to start cutting rigs and frac crews in March.