Business
South Australia’s largest company has reported a $US133 million fall in sales revenue for the March quarter as oil prices begin to recover from record lows.
News
US crude oil futures collapsed overnight below $US0 for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $US37.63 a barrel as desperate traders paid to get rid of oil.
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South Australia’s largest company, Santos, is among several major local companies to have seen their share prices plunge in recent months, as the global coronavirus and oil glut crises spook investors, with the State Government today foreshadowing a stimulus package for the state.
Energy company Equinor has walked away from exploring for oil in the Great Australian Bight, just two months after it received environmental approval to do so.
UPDATED | Adelaide-based oil and gas company Cooper Energy has turned a loss into a profit in the first half, despite reporting the same level of production as the previous year.
The Wilderness Society has launched court action to try to block a plan to drill an oil exploration well in the Great Australian Bight.
