Search results for: Oil Search

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  • 21 July 2020
    Business & Finance, Business developments & projects

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a drop in revenue due to lower oil prices.

  • 22 April 2020
    Business & Finance, Business developments & projects

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search saw its revenue slip in the first quarter of 2020.

  • 16 July 2019

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a drop in revenue for the second quarter of the year.

  • 23 January 2019

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a jump revenue in 2018 despite the adverse effects from the earthquake that shook PNG Highlands in February. 

  • 21 February 2017

    Oil Search, the owner of a 29 percent stake in the PNG LNG project, has reported a full-year net profit of $US89.8 million, compared to last year’s $39.4 million loss. However, its core profit, excluding one-offs, fell 70 percent to $106.7 million as average LNG prices dropped by a third and oil prices slid 12 […]

  • 18 December 2015

    Oil Search said it has refinanced its two existing US$125 million loans provided by Australia and New Zealand Banking Group Limited (ANZ) and Commonwealth Bank of Australia (CBA).

  • 1 October 2019

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search named its new managing director following Peter Botten’s decision to retire from the company on August 25. 

  • 13 July 2020
    Business & Finance, Business developments & projects

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search flagged a $360-$400 million impairment in its interim results.

  • 22 October 2019

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a drop in revenue in the third quarter of 2019. 

  • 7 April 2020
    Business & Finance, Business developments & projects

    Papua new Guinea-focused LNG producer Oil Search is looking to raise up to A$1.16 billion ($700 million) through a discounted share sale to weather a prolonged period of low oil prices. Oil Search, which owns a 29 per cent interest in the PNG LNG project, said on Tuesday the raising would be conducted at A$2.10 […]

  • 17 December 2015

    Oil Search, a company with a 29 percent stake in the ExxonMobil-operated PNG LNG project said its non-executive director Fiona Harris will resign from her post with immediate effect due to health issues.

  • 23 February 2016

    Oil Search of Papua New Guinea swung to a US$39.4 million loss in 2015 as it booked an impairment charge of almost $353 million related to assets in Kurdistan. The company’s core profit in 2015 was $359.9 million, compared to $482.8 million in 2014 as q consequence of plunging prices with the average Brent price […]

  • 16 April 2019

    The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a drop in revenue for the first quarter of 2019. 

  • 19 February 2019

    The Papua New Guinea-focused oil and gas producer, Oil Search reported an increase in its full-year 2018 net profit despite its operations being affected by the February earthquake in PNG highlands. 

  • 18 October 2016

    Oil Search, the owner of a 29 percent stake in the ExxonMobil-operated PNG LNG project, said its third-quarter revenue rose 16 percent on higher LNG prices. Revenue rose to US$309.5 million in the third quarter of this year from $267.7 million in the June quarter. “The average realised oil and condensate price of US$47.24 per […]

  • 20 February 2018

    Papua New Guinea-focused Oil Search saw its net profit after tax shoot up 236 percent in 2017, compared to the previous year on the back of record production levels and stronger oil and gas prices. 

  • 8 December 2015

    Australian LNG player Woodside has withdrawn its proposal to merge with Oil Search of Papua New Guinea. Woodside has in September approached Oil Search with an A$11.6 billion ($8 billion) all-share takeover plan. However, Oil Search, which has a 29 percent stake in the US$19 billion PNG LNG project, rejected the offer saying it was “highly opportunistic […]

  • 14 September 2015
    Project & Tenders

    The Board of Oil Search Limited has unanimously rejected Woodside’s takeover offer.  Last week Woodside launched the offer for all the shares in Oil Search for a consideration of one Woodside share for every four Oil Search shares held. According to Oil Search, following a detailed evaluation of the proposal, the Board has concluded that the proposal is “highly […]

  • 8 September 2015

    Australian oil and gas exploration and production company Woodside has launched a takeover offer for Oil Search. In a statement issued Wednesday, the company said it had provided Oil Search a confidential and non-binding proposal to merge through a scheme of arrangement under the Papua New Guinea Companies Act. Under the proposal, Oil Search shareholders […]

  • 20 May 2016

    Australia’s Oil Search has tabled a bid to acquire a 100 percent of InterOil, a company with assets in Papua New Guinea. The combination of the companies will increase Oil Search’s exposure to the “world-class” Papua LNG Project, which, the company says, is expected to be the next major LNG development in PNG, as well […]

  • 23 August 2016

    Oil Search, the company with a 29 percent interest share in the ExxonMobil-operated US$19 billion PNG LNG project, has seen its net profit after tax plummet 89 percent to US$25.6 million in the first half of 2016.

  • 8 December 2015

    Australia’s energy company Woodside has withdrawn its offer for Oil Search takeover. Woodside on Tuesday said it had informed the Oil Search Board of the withdrawal of its proposal to merge the businesses. On September 3, 2015, Woodside provided Oil Search with a proposal to merge Woodside and Oil Search through a scheme of arrangement. […]