Business
More than $3 billion has been wiped from the value of the state’s largest mining and energy companies in the past week amid tumbling global commodity markets and mixed March quarter production results in the wake of floods and China’s latest COVID-19 lockdowns.
Business
Santos has posted record quarterly revenue from oil and gas sales, with the company cashing in on surging commodity prices and its merger with Oil Search.
Get InDaily in your inbox. Daily. The best local news sent straight to your inbox every workday at lunchtime.
Thanks for signing up to the InDaily newsletter.
Santos will this month officially become the first South Australian headquartered company in decades to join the top echelon of the Australian Securities Exchange, on the back of surging gas prices and its recent merger with Oil Search.
Australia’s largest listed wine company Treasury Wine Estates has recorded a half-year profit of $109 million despite a 10 per cent dip in earnings, while oil and gas giant Santos has announced a 2021 profit of $920 million.
Santos is bracing for a “very busy 2022” after today announcing a record year of production and sales in 2021 following last month’s merger with Oil Search.
In this week’s briefcase, Santos finalises its merger with Oil Search, SeaLink gains a contract extension to operate the KI ferry service until 2039, 57 films sells off its digital division and Adelaide developer Axiom Properties hands over the completed $80 million South Australian Emergency Services Control Centre to the State Government.
South Australia’s largest company has today moved further towards its merger with Oil Search, which is expected to be finalised this month to make it a $22 billion ‘regional champion’ in the oil and gas industry.
