Santos reports massive loss

February 16, 2017

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Oil and gas major Santos has recorded a net loss of more than $1-billion for the full year ended December, on the back of a $1.1-billion impairment charge on its Gladstone liquefied natural gas (GLGN) asset and lower oil prices.

Excluding impairments and other significant items, the company reported an underlying profit of $63-million, compared with the $49-million reported last year.

Category: General