OSH oil search limited
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March 18 (Reuters) - Oil Search (OSH) said on Wednesday it will...

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    18/03/20
    10:30
    Post #: 43554487

    March 18 (Reuters) - Oil Search (OSH) said on Wednesday it will cut capital spending by about 44% and suspend plans to sell a stake in its Alaskan assets as oil prices plunge below $30 a barrel.

    Capital spending is expected to be between $200 million and $300 million, down from $400 million to $500 million, Oil Search said.

    The Papua New Guinea-based oil explorer also suspended plans to sell a 15% stake in its Alaskan assets, although it said discussions with several parties are continuing.

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