UPDATE 1-Oil Search in first half plunges 85% as pandemic beats oil prices
(Added company statement, background, details about the P’nyang deal)
Aug 25 (Reuters) – Australia-listed Oil Search Ltd on Tuesday reported an 85% drop in its half-yearly basis profit, hurt by falling oil and gas prices as the coronavirus epidemic hammered the economic activity around the world.
In an effort to withstand falling oil prices, the Papua New Guinea-focused oil and gas explorer…