Beach avoids writedowns

Oil and gas producer Beach Energy has reported lower production and revenue for the full year ended June, compared with the 2019 financial year.

The ASX-listed company on Monday reported that oil and gas production for the full yea reached 26.7-million barrels of oil equivalent, down from the 29.4-million barrels of oil equivalent produced in 2019, however, oil production reached a record 8.8-million barrels during the year.