Beach Petroleum flags name change

Beach Petroleum Ltd is set to change its name to Beach Energy Ltd.

The South Australian-based company said it was proposing to change its name to more accurately include its emerging role in low-emissions energy technology and solutions.

Beach chairman Robert Kennedy said his company's growth would depend on recognising opportunities in a world where there were major changes to the way energy would be used.

"Beach is in a very strong position because of its large and diverse portfolio of projects and solid revenue base to support Australia's evolution into a global clean energy pioneer," Mr Kennedy said.

"Beach's view is that in a world of energy market volatility, the time is ripe for long-term strategic thinking and careful analysis of energy fundamentals to best position the company for the future.

"One such abiding fundamental will continue to be that of affordable and low-pollutant energy in its many forms.

"For that reason, we propose to change the company's name to Beach Energy to reflect not so much a change of direction but a new world of opportunities," Mr Kennedy said.

Shares in Beach Petroleum closed up 0.5 cents to 86.5 cents.