Oil Search's $20 billion LNG plan for PNG has been thrown in limbo after the country's new PM terminated negotiations.
Falls in the share prices of the big miners,and a number of property,industrial,and utility stocks going ex-dividend weighed on the local market.
The S&P/ASX 200 Index jumped after a bearish outlook from the Reserve Bank increased the chances of further rate cuts.
Outgoing boss Peter Botten says Papua New Guinea's new government was showing"pragmatism"in dealing with resources companies
A $20 billion liquefied natural gas project in PNG facing uncertainty following the ousting of the country's prime minister has been given the green light.
Oil Search and its joint-venture partners are seeking urgent answers from the government of Papua New Guinea over a LNG deal.
Papua New Guinea has indicated it is backing a previously agreed liquefied natural gas deal involving the Australian company,which had been thrown into doubt.
Oil Search has exercised an option to double its stake in a string of Alaskan exploration leases,.
Chief executive Peter Botten says the industry must support social projects in PNG as the country faces high unemployment and political turmoil.
Australia's exports are forecast to reach $49 billion in value in 2019-20,overtaking Qatar as the world’s largest LNG exporter.
Australia's major energy companies have surged by $1.7 billion in value after the US crackdown on buyers of Iranian oil is set to push up oil prices and producers'bottom lines.