Dry drillers seek public handout
Article Abstract:
The oil industry is divided over, and is suspicious of, the government's new-found sympathy and flexibility for oil companies who win bids for exploratory work and come up empty and do not want to finish their commitment. At the Australian Petroleum Producing and Exploration Association (APPEA) convention in April 1999, the government revealed their proposals to aid "over-bidders," while APPEA said it supported the existing system. However, given AAPEA's lack of opinion on the important issue of failure to meet drilling commitments, the organization appears incapable of speaking for the industry as a whole. New bids will be watched carefully.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1999
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Woodside's woes bubble over
Article Abstract:
Australia's Woodside Petroleum has had its stock price drop by one-third between Oct 1997 and Feb 1998. The company's fourth major project, Laminaria, is the fourth major project not to work. The budget for Laminaria has increased from A$1075 million to between A$1275 million and A$1325 million. The project is also six months behind in completion.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1998
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Hot oil calms Beach's troubled waters
Article Abstract:
Issues are presented concerning the survival of Beach Petroleum who were involved in a litigation battle following the purchase of the Burbank oil field in Oklahoma and the collapse of the Independent Resources group.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 2000
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