InDaily

Adelaide's independent news

Support

Santos shares down as oil and gas hit 12-year low

Business

Adelaide-based Santos is among Australian oil and gas producers under pressure as oil prices hit fresh 12-year lows overnight.

Comments
Comments Print article

US crude prices fell 4.3 per cent to $31.72 a barrel, while benchmark Brent dropped 5 per cent to $31.83 a barrel amid fears over slowing demand in China and a growing inventory glut.

Santos shares were 3 per cent lower at $3.11, Woodside Petroleum dropped 0.8 per cent to $27.41 and Origin Energy lost 1.5 per cent to $4.18 at 11am (AEDT).

BHP Billiton, which has significant oil and gas interests, was 0.8 per cent lower at $15.43.

Meanwhile shares in Beach Energy were 2.9 per cent lower at $41.75 after it appointed Oil Search executive Matthew Kay as its new chief executive officer to take over from acting CEO Neil Gibbins.

It comes after Origin Energy confirmed its $24.7 billion APLNG project shipped its first LNG cargo to Asia on Saturday.

– with AAP 

We value local independent journalism. We hope you do too.

InDaily provides valuable, local independent journalism in South Australia. As a news organisation it offers an alternative to The Advertiser, a different voice and a closer look at what is happening in our city and state for free. Any contribution to help fund our work is appreciated. Please click below to become an InDaily supporter.

Powered by PressPatron

Comments

Show comments Hide comments
Will my comment be published? Read the guidelines.

More Business stories

Loading next article

Subscribe to InDaily – it’s free!

South Australia’s locally owned, independent source of digital news.

Subscribe now and go in the monthly draw* for your chance to WIN a $100 Foodland voucher!

Subscribe free here

*Terms and conditions apply

Welcome back!

Did you know it’s FREE to subscribe?

Subscribe now and go in the monthly draw* for your chance to WIN a $100 voucher!

Subscribe

*Terms and conditions apply