Australia’s Santos posts 7% fall in first-quarter sales revenue
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© Reuters. FILE PHOTO: The logo of Australian oil and gas exploration and production company Santos is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo
STO
-2.31%
(Reuters) - Australian oil and gas producer Santos posted a 7% fall in first-quarter sales revenue on Thursday, hurt by lower crude sales volumes and weak realised prices for domestic gas and oil-linked LNG sales contracts.
The country’s second-largest independent gas producer said sales revenue for the three months ended March 31 came in at $1.29 billion, missing a Visible Alpha consensus estimate of $1.32 billion.
It reported $1.40 billion in sales revenue a year ago.
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