Australia’s top LNG shippers are expected to unveil windfall profits this week as a Northern Hemisphere energy crisis drives prices higher.
The head of Oil Search is urging investors to consider the huge benefit of gaining greater access to capital as banks increasingly shun fossil fuels.
A small group of powerful men,and increasingly women,dominate the boards of Australia’s biggest companies. And some fear the group is too small.
After conducting weeks of due diligence,two of Australia’s biggest oil and gas producers have finalised their agreement.
The takeover target is seeking to assure Papua New Guinea it will continue acting in its national interest if its proposed $22 billion merger with Santos proceeds.
Australian energy giants Santos and Oil Search will be expected to maintain a significant local presence in PNG if their $22 billion merger proceeds.
Two of Australia’s biggest oil and gas companies are set to create a $21 billion industry juggernaut after Santos raised its offer to merge with Oil Search.
Oil Search chairman Rick Lee’s ‘opaque at best’ performance over the resignation of managing director Keiran Wulff put the whole board under pressure. By next morning it was squarely in crisis.
Energy giant Santos has been in talks with ASX-listed rival Oil Search assessing a potential deal to merge into Australia’s biggest oil and gas company.
Asian LNG demand is causing a tightening of the market and elevating prices for Australian cargoes of the super-chilled fossil fuel.
Oil Search has activated crisis plans to protect its workers in PNG and is also offering local government agencies assistance to tackle the COVID-19 crisis.