Sunday, January 29, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Production

Oil Search revenue drops on weak prices

July 22, 2020
in Production
Oil Search revenue drops on weak prices
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

New U.S. permit to boost Keystone pipeline oil exports by next year: TC

Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET

County in oil-production zone fights stay-at-home order | Fort Worth

Oil Search has reported a 30 per cent drop in second-quarter revenue on plunging oil prices,  but says it is on track to meet its 2020 production guidance.

The Papua New Guinea-focused company raised its 2020 forecast for its key PNG liquefied natural gas (LNG) project to 24.5-25.5 million barrels of oil equivalent (mmboe) from 24-25 mmboe previously, helped by a deferment in scheduled maintenance.

The company had said in May that it was mulling cutting its oil production in PNG from July due to weak global prices.

“Oil Search is on track to achieve its production targets in 2020, despite the shut-in of the Hides Gas-to-Electricity (GTE) project during the quarter due to suspension of operations at the Porgera gold mine,” Managing Director Keiran Wulff said in a statement.

Hides supplies gas to the mine, which suspended operations earlier this year amid a dispute with the PNG government.

Average sales prices for its liquefied natural gas were 21 per cent lower than in the same period last year, while production climbed 5.6 per cent to 7.3 mmboe.

In a bid to weather the oil price crash, Oil Search has axed a third of its workforce, raised cash in a share sale, deferred key growth projects in Alaska and PNG and written down some assets, like its global peers.

The company recorded a revenue of $US266.2 million for the three months ended June, down from $US378.9 million a year earlier.

Production guidance for 2020 of 27.5-29.5 mmboe and production costs of $US10.50 per boe before one-off restructuring costs remain unchanged, the company added.



Read More: Oil Search revenue drops on weak prices

Tags: dropsoilpricesRevenueSearchweak

Related Posts

New U.S. permit to boost Keystone pipeline oil exports by next year: TC
Production

New U.S. permit to boost Keystone pipeline oil exports by next year: TC

by Oil Market
July 31, 2020
0

The CEO of TC Energy Corporation says the company will begin moving more oil from Western Canada into the...

Read more
Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET
Production

Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET

by Oil Market
July 29, 2020
0

LAGOS/LONDON: Nigeria's state oil firm NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed...

Read more
County in oil-production zone fights stay-at-home order | Fort Worth
Production

County in oil-production zone fights stay-at-home order | Fort Worth

by Oil Market
July 29, 2020
0

SANTA FE, N.M. (AP) — A county in New Mexico’s southeastern oil production region is backing a legal challenge...

Read more
Shetland oil pioneer enjoys production boost following challenging period
Production

Shetland oil pioneer enjoys production boost following challenging period

by Oil Market
July 28, 2020
0

HURRICANE Energy has received a boost following a difficult period after increasing production from a big field off Shetland....

Read more
Australia’s Karoon soars after striking new oil field deal terms
Production

Australia’s Karoon soars after striking new oil field deal terms

by Oil Market
July 27, 2020
0

Karoon's share price surged more than 15 per cent following the news to 77¢ in early trading on Monday.Loading"Despite...

Read more
Analysis | The Next Move in Oil Prices May Be Down, Not Up
Production

Analysis | The Next Move in Oil Prices May Be Down, Not Up

by Oil Market
July 26, 2020
0

The group of 23 oil producing countries, led by Saudi Arabia and Russia, confirmed they would reduce the size...

Read more
Next Post
Oil falls as worsening coronavirus pandemic threatens recovery

Oil falls as worsening coronavirus pandemic threatens recovery

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Shell CEO: No V-Shaped Recovery After COVID-19

Shell CEO: No V-Shaped Recovery After COVID-19

3 years ago
Oil Storage Market Key Companies and Analysis Top Trends by 2025 – Cole

Crude Oil Pipelines Market to Surge at a Robust Pace in Terms of Revenue

3 years ago
Saudi Arabia and Russia end their oil-price war with output cut agreement

Saudi Arabia and Russia end their oil-price war with output cut agreement

3 years ago
Families living near oil wells need to know one critical stat for their

Families living near oil wells need to know one critical stat for their

3 years ago
H2Pro: The Marula Oil-based hair product you need now

H2Pro: The Marula Oil-based hair product you need now

3 years ago
Polis says oil and gas, environmental groups brokered cease-fire on ballot

Polis says oil and gas, environmental groups brokered cease-fire on ballot

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com