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Santos’ sales revenue slides as virus smashes oil price – Sydney Morning Herald
Santos has posted a record quarterly production of oil and gas, but coronavirus and the crude oil price crash have led to a slump in sales revenue.
Australian energy giant Santos has posted a record quarterly production of oil and gas, but the coronavirus pandemic and collapse in crude oil prices have led to an 11 per cent slump in sales revenue.
Days after slashing more than $1 billion from the value of its business due to the global energy market crash, Santos on Thursday detailed the extent of the impact of vanishing demand and plunging oil prices so far. Its average realised oil price has been cut in half to $US30.78 a barrel in the Ju…
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