Oil Search profits dive

OIL SEARCH’S dismal interim results have been driven by fall in global oil prices and the pandemic but have been partly offset by “sustainable, ongoing cost reduction initiatives”.

Oil Search profits dive Oil Search profits dive Oil Search profits dive Oil Search profits dive Oil Search profits dive

Dr Keiran Wulff

The company says 2020 first-half core net profit after tax fell 85% to $24.7 million, reflecting the sharp drop in commodity prices and higher exploration expense.

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