Business
Origin cuts back gas drilling as pandemic drain hits exports – Sydney Morning Herald
Origin has curtailed drilling at its Queensland gas operations in the latest sign of the severity of COVID-19’s impact on the energy market.
“Gas production was steady for the quarter, however as expected, realised prices were lower as the lagged impact of oil prices on APLNG’s contracts started to flow through to revenues,” he said.
“With demand for LNG continuing to be subdued and strong performance from our gas fields, Origin has reduced drilling activity for the year across upstream operations at APLNG.”
As a result, Mr Calabria said, Origin’s share of capital expenditure for APLNG would be $33 million lower across the quarter.
Analysts…
-
General12 hours agoMildura man given 28 years to pay $73,000 in unpaid fines and tolls
-
General15 hours agoAustralia’s race to rewire the country amid a global transmission boom is not unique
-
General13 hours agoGold Coast and Noosa councils scammed out of ratepayers’ money
-
Business15 hours agoI was a huge fan of Fortescue shares, then this happened…