PNG

Oil Search profit dips

DESPITE higher revenues for the half year, PNG explorer Oil Search has recorded net profit after tax of $US107.5 million ($A102.8 million), a 6% drop on the corresponding period last year.

Oil Search profit dips

Production also suffered, dropping 8% drop for the half year down to 3.25 million barrels of oil equivalent. However, despite the drop in production, revenue from sales increased 7% due to higher gas...

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