Business
South Australia’s largest company Santos has reported a $402 million ($US289 million) loss for the first half of 2020, following months of low oil and gas prices and the coronavirus pandemic.
Business
SA listed companies have gained ground on the Australian Securites Exchange in the first five weeks of the new financial year as the volatile market inches back from March’s pandemic cliff.
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Increased copper production at Olympic Dam has helped mining giant BHP boost its global production for the 2020 financial year.
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.
Global credit risk researcher Standard & Poors has reaffirmed Santos’ BBB-credit rating, fuelling an early jump in the South Australian oil and gas giant’s share price this morning.
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.
