LNG

Oil Search, the Papua New Guinea and Australian listed company with LNG interests and an oil project in Alaska, said Managing Director and Chief Executive Keiran Wulff has resigned for health reasons and been replaced by Peter Fredricson, named as Acting CEO.

Japan’s liquefied natural gas imports rebounded last month with steady volumes from the Middle East and Australia and higher cargo numbers from Russia and the US, though LNG deliveries were outpaced by thermal coal shipments.

Oil Search, the Australian-listed company with LNG stakes in Papua New Guinea and oil assets in Alaska, posted a drop in second-quarter revenues and plans to reduce the global workforce by about one third by year-end to traverse the current industry challenges.