Oil Search

Better-than-expected US company earnings and optimism that President Donald Trump's tax cuts will proceed has helped drive Australian shares higher.

Australian shares have reversed Monday's losses and opened stronger following positive finishes in the US overnight.

Oil Search has signed an agreement with the Papua New Guinean government for the Papua LNG Project, enabling initial work to begin on the giant development.

Oil Search has exercised a $US450 million ($A642 million) option to double its stake in a string of Alaskan exploration leases, while also affirming plans to sell off a portion of its first major venture outside Papua New Guinea.

Oil Search says both its second-quarter production and revenue have dipped by 5 per cent as expected, but analysts were reportedly looking for a more substantial first-half recovery after last year's earthquake in Papua New Guinea.

Former Buru Energy managing director Keiran Wulff will replace outgoing Oil Search managing director Peter Botten, with the long-serving leader to hand over the reins in February.

Oil Search has posted a 24 per cent drop in quarterly revenue and cut its 2019 production guidance after damage to a mooring system dented output.

Oil Search shares have dropped more than 10 per cent in value after negotiations on developing a new gas field in Papua New Guinea fell apart over the weekend.

The Australian stock market has shed more than $100 billion as it sinks to its lowest level in over a year, following US markets lower after a rise in the number of coronavirus cases.

As if there wasn't enough global uncertainty already, a likely price war has broken out over the price of oil.

Engineering and construction contractor Monadelphous no longer expects its revenue to grow by 10 per cent this financial year, saying the economic slowdown and uncertain outlook meant it was unable to provide guidance.

Australia's share market has rallied from a near eight-year low with the US Federal Reserve taking drastic action to shore up markets and new coronavirus cases seeming to plateau in Italy.

The Australian share market has shaken off a weak lead from Wall Street to rise early as government prepares to announce further economic support measures for businesses amid the COVID-19 pandemic.

The Australian share market has opened two per cent higher as coronavirus-fuelled volatility continues.

The Australian share market has rallied as coronavirus-fuelled volatility continues, even as the Reserve Bank released minutes showing members were worried about the likelihood of a recession.

Virus-cruelled travel firm Flight Centre is tapping investors for $700 million as business grinds to a halt amid widespread travel bans and shutdowns.

ASX-listed energy producer Oil Search is tapping investors for $1.16 billion in order to withstand a prolonged period of low oil prices.

Oil Search plans to write off up to $US400 million ($A576 million) due to the outlook for oil and gas prices and the shutdown of a gold mine.

Money is seeking a safer home as the threat of inflation looms.

Keiran Wulff has resigned as managing director of Oil Search after just 17 months, with the company citing both health issues and recent complaints about his behaviour.

Oil Search has rejected a Santos merger bid valuing the joint entity at $22 billion, revealed one day after Oil Search’s chief executive resigned.

AGL Energy will give investors a say on reducing carbon emissions but some argue the energy provider needs to do more.

A $21 billion merger of Santos and Oil Search looks set to proceed after the companies agreed to revised terms.

Santos and Oil Search have struck an agreement to merge their businesses through an all-scrip deal worth $21 billion.

Oil Search shareholders have voted in favour of a proposed merger with Santos, clearing the way to form a top 20 global oil and gas entity.

Oil Search non-executive director Michael Utsler will join the Santos board as the $21 billion merger between the companies takes effect.

“It has been a busy year and it continues to be,” is how Simon Reed describes current market conditions in Western Australia.

Santos has booked 100 million tonnes of carbon storage resource within South Australia's Cooper Basin while reporting a substantial increase in reserves on the back of its Oil Search merger.