Santos revenue climbs on higher prices

For illustration purposes only (Image courtesy of Santos)

Australian LNG player Santos, the operator of the GLNG project, saw its half-year revenue rise revenue rise due to higher oil and gas prices,  despite lower production.

First-half sales revenue rose 16 percent to $1.7 billion as compared to $1.45 billion last year.

Santos said in a report on Thursday its average realised oil price in the six-month period rose 37 percent to $75.4 per barrel as compared to 2017.

Production fell 5 percent from a year ago to 28 million barrels of oil equivalent (mmboe).

“The strong increase in revenue was achieved despite the PNG LNG outage and planned shutdowns at Moomba and Bayu Undan/Darwin LNG which reduced first-half production by about 2 mmboe and sales revenue by approximately $80 million,” Santos said.

 

Share this article

Follow LNG World News

Posted on July 19, 2018 with tags .

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >