Original article by Perry Williams
The Australian – Page: 13 & 14 : 20-Apr-20
The price of Brent crude oil is trading at around $US28 a barrel. Energy industry sources have warned that Australian oil and gas producers may have to announce significant full or half-year impairment charges if the oil price remains subdued for the remainder of 2020. Allan Gray Australia Simon Mawhinney says $U30 a barrel is not sustainable for the industry. Futures market pricing suggests that the long-run oil price may average $US44 a barrel until 2023.
WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, BEACH ENERGY LIMITED – ASX BPT, ALLAN GRAY AUSTRALIA PTY LTD