Oil and gas exploration spending suffers: ABS

The Australian Bureau of Statistics (ABS) has reported that oil and gas exploration expenditure fell 6.8 per cent in the 2020 June quarter, with Western Australia being the largest contributor to the drop. ABS further outlined that June had a $48.3 million decrease in total expenditure to $665 million, including petroleum exploration expenditure falling by …
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Otto, Australis respond to challenging market conditions

Australian-based companies Otto Energy and Australis Oil & Gas have both taken steps to ensure their international operations are positioned to ride out current market challenges. Otto Energy reported that the impact of lower oil prices was demonstrated during the past week with the curtailment of production from the F1 well at the company’s flagship South …
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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 has been hit hard, with Woodside share prices falling 18.3 per cent from $26.44 to $21.10 during Monday trading. Santos recorded …
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