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Oil Search half-year profit sinks 85% as pandemic batters oil

Australia-listed Oil Search Ltd reported a half-year core profit on Tuesday that plunged 85%, hurt by a slump in oil prices as the coronavirus outbreak battered demand and halted economic activity across the globe.

Aug 25 (Reuters) - Australia-listed Oil Search Ltd OSH.AX reported a half-year core profit on Tuesday that plunged 85%, hurt by a slump in oil prices as the coronavirus outbreak battered demand and halted economic activity across the globe.

The Papua New Guinea-focused oil and gas explorer's core profit after tax fell to $24.7 million for the six months ended June 30, from $165.2 million a year earlier.

(Reporting by A K Pranav and Soumyajit Saha in Bengaluru; Editing by Shounak Dasgupta)

((Soumyajit.Saha@thomsonreuters.com))

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