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-Australian oil and gas producer Santos reported a 42% drop in its annual underlying profit on Wednesday on the back of persistent weakness in commodity prices and lower production..
(Reuters) - Australian oil and gas producer Santos reported a 42% drop in its annual underlying profit on Wednesday on the back of persistent weakness in commodity prices. Oil prices have fallen from the elevated levels seen in 2022 after the Russi.
-Australian oil and gas producer Santos reported a 42% drop in its annual underlying profit on Wednesday on the back of persistent weakness in commodity prices and lower production..
Australian gas producer Santos reported a worse-than-feared 42% drop in annual profit on Wednesday on weaker gas prices and output and flagged it was working to boost its valuation after merger talks failed with bigger rival Woodside. Santos, which only weeks ago stopped merger talks with Woodside Energy, reported an underlying profit of $1.42 billion for the year ended Dec. 31, down from $2.46 billion a year earlier. The result missed an LSEG consensus estimate of $1.49 billion, and Santos shares fell as much as 2% in early trade.