Oil and gas producer Santos has reduced its half-year loss to $US506 million ($A640 million) even though it had an impairment charge of $US689 million on account of lower oil price forecasts.
Oil and gas producer Santos has recruited former Nido Petroleum and BHP Petroleum executive Philip Byrne, who will take over from retiring executive vice-president John Anderson.
Four Western Australian projects will be included in a planned spin-off from energy player Santos in a bid to increase cash flow and cut debt, including facilities at Thevenard and Barrow islands.
Santos has narrowed its full-year sales guidance to the top end of its previous target range after total sales volumes leapt 31 per cent in the September quarter, compared with the same period last year.
Santos will not pay a dividend after plunging to a $US1.1 billion ($A1.4 billion) half-year loss on the back of lower oil prices and a large impairment against its massive new LNG project.
Energy giant Santos will take an impairment charge of $US1.5 billion ($A2 billion) against the carrying value of its Gladstone liquefied natural gas project in Queensland.
Energy giant Santos will hand at least 40 per cent of its underlying net profit back to shareholders as dividends despite a tough year due to falling oil prices.
Energy giant Santos has finalised a new executive team and corporate structure that centralises management in Adelaide, though it has a strong Western Australian flavour as five members of the executive committee have worked in Perth.
Beach Energy and Santos are the latest Australian oil and gas companies to flag big write-downs, with Beach announcing late today it would cut capital spending and make impairment charges of up to $650 million.
The liquidators of failed engineering contractor Forge Group have gained financial backing to pursue a claim worth about $200 million against Forge's former major shareholder.
SPECIAL REPORT: Newly appointed chief executives in Western Australia are mostly receiving lower salaries than their predecessors, but retaining plenty of upside through incentive schemes, a survey of nearly 40 new CEO pay packages has found.
Kevin Gallagher has tendered his resignation as the CEO and managing director of Clough. Mr Gallagher will resign from Clough to take the CEO position with Santos.
Oil and gas producer Santos plans to cut its debt by $3.5 billion through two capital raisings and one asset sale, in an effort to ride out weak oil prices, and has recruited Clough boss Kevin Gallagher as its new chief executive.
Local engineering services company Clough is boosting its North American presence with the acquisition of Canada-based Enercore Projects for $C10 million ($A10.5 million).
Engineering firm Clough and its recently acquired US subsidiary CH.IV International have been appointed owner's engineer on the planned Magnolia LNG project in the US state of Louisiana.
Perth engineering firm Clough is targeting small-scale liquefied natural gas (LNG) projects as a new growth area, after signing a ‘teaming' agreement with global company GE Oil & Gas.
Engineering and project services firm Clough says its AMEC joint venture has been awarded a $70 million contract for Arrow Energy's Bowen gas project in Queensland.
Engineering and project services company Clough today announced the acquisition of CH-IV International, a small, privately owned liquefied natural gas engineering and consulting services provider based in the United States.
The Clough AMEC joint venture has been awarded a $20 million engineering, procurement and construction contract at Arrow Energy's Daandine coal seam gas expansion project in Queensland's Surat basin.
Fortescue Metals Group has appointed the BAM Clough joint venture to design and construct a fifth iron ore loading berth at its Anderson Point facility in Port Hedland.
Western Australian business chiefs Kevin Gallagher, Gina Rinehart and Richard Goyder were recognised in separate awards events across the country last night.
When Forge Group announced this week it had won a $1.47 billion Roy Hill construction contract it was with new joint venture partner Duro Felguera, from Spain, rather than its former alliance partn
South African engineering and construction group Murray & Roberts has made a $430 million offer to win full control of Perth-based Clough, in which it already holds more than 60 per cent of the
Engineering and construction group Clough is tipping a bumper year ahead after announcing a 139 per cent increase in net profit for the half year to December 31.
In what must rate as one of the more embarrassing oversights in WA business, engineering contractor Forge Group has admitted that it forgot about one of its directors when it prepared this year's n
THREE trends stand out when the salary packages of newly appointed chief executives at Western Australian companies are examined.First,the bigger the company the higher the salary.
