Oz Santos Profits Jump

摘要

Australian oil and gas producer Santos reported a 155% jump in net profit for the first six months of 2011 from a year earlier to A$504 million (US$521 million). The increase was thanks mainly to a A$246 million net profit on asset sales, including the sale of a 15% interest in the Gladstone LNG (GLNG) project to Total and South Korea's Kogas announced in December 2010 and completed in the first half of this year (IOD Dec.20'10). Underlying net profit was up 12% to $A236 million, mainly because of lower production costs and exploration expenses.