AUSTRALIA'S PROFIT RISES
Decades of investment in Papua New Guinea is continuing to pay off for Australia's Oil Search Ltd., which said Tuesday that first-half net profit rose by a third.
Oil Search is partners with Exxon Mobil Corp. in Papua New Guinea's first liquefied-natural-gas, or LNG, project, which shipped its maiden cargo of the fuel to Japanese buyers in May, about three months ahead of plan.
LNG is natural gas super-cooled in large refrigeration units so it can be exported by tanker to places not connected by pipeline.
Taking more than four years to build,…
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