Jadestone advances in Australia but drops NZ plans
Regulatory clarity and swiftness allow the firm to make a rapid move into the North West Shelf, in contrast to its withdrawal from Maari
Singapore-based independent Jadestone Energy has made progress in Australia shortly after a setback in New Zealand, demonstrating the drastically different upstream environments in the two Antipodean nations. Jadestone has completed its acquisition of BP's non-operated 16.67pc stake in the North West Shelf project’s oilfields, off the coast of Western Australia, following an initial SPA in July. The Singaporean firm paid $20mn, having already paid an initial $41mn into the project’s decommissioning trust fund. BP has now divested from the development entirely, and the scheme—which is better known as an LNG export project—remains operated by Australian firm Woodside. “We see significant

Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand