Business
Santos has delivered record oil and gas production and sales volumes in the September quarter. But despite the production boom, the struggling world oil price has kept its sales revenues down by more than 20 per cent on this time last year.
Business
South Australia’s largest company has reported a $US133 million fall in sales revenue for the March quarter as oil prices begin to recover from record lows.
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Santos will slash its 2020 capital spend by $550 million and defer a final decision on a major Northern Territory gas project in a bid to counteract plunging oil prices and coronavirus.
South Australia’s largest company, Santos, is among several major local companies to have seen their share prices plunge in recent months, as the global coronavirus and oil glut crises spook investors, with the State Government today foreshadowing a stimulus package for the state.
Energy company Equinor has walked away from exploring for oil in the Great Australian Bight, just two months after it received environmental approval to do so.
UPDATED | Adelaide-based oil and gas company Cooper Energy has turned a loss into a profit in the first half, despite reporting the same level of production as the previous year.
