Santos chief executive officer Kevin Gallagher has reinforced how he has helped restructure the company and implemented a strategy that focuses on core natural gas assets in Australia, Papua New Guinea
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Oil Search to raise $1.16bn as oil decreases
Oil Search plans to raise $US700 million ($1.160 billion) to secure additional financial strength as it manages a challenging market environment.
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Woodside reduces production costs, balances debt profile
Woodside is taking key steps to protect the financial health of the company, including halving its forecast expenditures for 2020 and deferring final investment decisions on its major Western Australian projects.
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Oil Search cuts jobs, management takes pay cut
Oil Search has continued to take decisive steps to ensure the sustainability of its business in response to the challenges facing the global energy industry. Last week, the company announced that it would
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Beach in stable position despite global events
Beach Energy has taken rapid and decisive action in response to the lower oil price environment, declaring it is in a stable position to navigate the drop in prices. Matt Kay, Beach chief executive officer
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Oil prices to continue to suffer: EIU
The Economist Intelligence Unit (EIU) has worsened its outlook for oil consumption following the recent crash in prices and the escalating coronavirus situation.
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Santos freezes hiring, reassesses 2020 expenditure
Santos plans to cease new hiring and is reviewing its capital spending plan following the recent drop in oil prices. Chief executive officer Kevin Gallagher said Santos was a much more resilient company
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Oil slump hits Australian producers
Shares in Australia’s oil and gas giants have fallen sharply following the fallout from the inability of OPEC and Russia to reach an agreement on production cuts last week. The oil and gas sector
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Oil prices impacted after rise of coronavirus outbreak
Oil prices have suffered the consequences from the impact of the deadly coronavirus outbreak in China.
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