Oil and gas major Santos has reported a fall in production, revenue and underlying profits for the half-year ended June. Production for the six months under review was down 13% on the previous corresponding period, to 45-million barrels of oil equivalent with sales volumes declining by 15% to 41.7-million barrels of oil equivalent, resulting in revenue falling by 21% in the same period, from $3.7-billion to $2.9-billion.
PERTH – Oil and gas major Santos has reported a fall in production, revenue and underlying profits for the half-year ended June.
Underlying profits for the half-year was down 37% to $801-million while statutory net profits after tax was down by 32% to $790-million. Earnings before interest, tax, depreciation, amortisation and exploration was down 23%, to $2.1-billion.Kevin Gallagher “Our Santos Energy Solutions division is expanding and continues to work on building new revenue sources through decarbonisation projects. The Moomba carbon capture and storage project will be one of the biggest and lowest cost in the world and is on track for first injection of CO2 next year.”
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