Oil and gas company Santos has launched a new strategy that will see it focus on its key assets and spin off its non-core business into a new company.
BHP Billiton has won a bid to acquire a majority share in the deep-water Trion oil field project in the Gulf of Mexico.
Origin Energy has announced plans to divest its upstream business assets in an effort to reduce debt and focus on its energy markets and gas business.
BP is moving forward with the US-based Mad Dog oil project, which includes BHP Billiton as a key partner, at a considerably lower development cost.
The Federal Government has launched a review into Australia’s underperforming petroleum resource rent tax (PRRT).
The industry body has expressed support for the Australian Government’s decision to review the petroleum tax system in the country.
Global oil prices surged significantly overnight after OPEC took the surprising move to cut production from January next year.
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