InDaily InDaily

Support independent Journalism Donate Subscribe
Support independent journalism


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


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

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 

Make a comment View comment guidelines

Local News Matters

Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.

Donate today
Powered by PressPatron


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

More Business stories

Loading next article