Business
Adelaide-based oil and gas company Santos announced today it had cut net debt by four per cent since the start of the second quarter, helped by higher oil prices and may revive dividends in August.
Business
Harbour Energy has slammed Santos’s diminishing contribution to South Australia after the Adelaide-headquartered oil and gas giant rejected Harbour’s takeover offer.
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Adelaide-headquartered oil and gas giant Santos has received a binding, conditional takeover proposal from Harbour Energy.
Santos says it is in shareholders’ interests for it to “engage further” with a renewed bid by a US private equity firm to take over the South Australian-based oil and gas giant.
Adelaide headquartered oil and gas producer Santos has reported a full-year loss of $US360 million ($A456.8 million) due to impairments on its Gladstone LNG project in Queensland and other assets recorded in the first half of 2017.
Mineral Resources and Energy Minister Tom Koutsantonis has warned off a foreign equity group reportedly circling Santos, saying he stands ready to prevent the South Australian energy giant being taken over and broken up.
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