Oil and gas giant triples profit to more than $1 billion - as your energy prices soar

.SantosLtd has posted record production, earnings, and cashflow in the first half of 2022 on increased demand and rising oil and LNG prices. $STO 7NEWS

reported on Wednesday a half-year net profit after tax of $US1.167 billion for the first half of the financial year.Watch the latest News on Channel 7 or stream for free onSantos also announced a final investment decision had been taken to proceed with the Pikka Phase 1 oil project in Alaska, which it disclosed would cost more than expected.

“Today’s results demonstrate the strength of Santos, with strong diversified cashflows and capacity to provide sustainable shareholder returns, fund new developments and the transition to a lower carbon future,” chief executive Kevin Gallagher said in a statement.

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