Australian oil and gas major Santos has narrowed its net loss for the six months ended June from the $1.1-billion loss reported in the first half of 2016 to a loss of $506-million.
The net loss reported for the first half of 2017 included an impairment charge of $689-million, which resulted from changes to the carrying value of its assets, brought on by changing oil prices, exchange rates, discount rates, as well as production and cost fluctuations.
