28 April 2024
Oil Search profits surge as PNG government moves to sell stock at a loss
Publication date: 26 September 2017
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Papua New Guinea-focussed Oil Search reported a whopping 405% boost in half-yearly profits this week, further highlighting questions over the PNG government’s motivations for reportedly seeking to sell its shares in the company at a loss.
The Port Moresby-based gas and LNG company said the USD 129 million in net profit after tax for the period to June 2017 reflected ...