From The Australian, the former stars are forming meteor shower:
Santos posted record annual and quarterly sales revenue figures driven by the ramping up of production from the PNG LNG project as well as higher Cooper Basin output.
…Santos said it will be undertaking an impairment review in the wake of the lower oil price, which has slumped to six-and-a-half-year lows.
As such, Santos said, the group’s financial results for the year, to be announced in February, may differ from the guidance provided today.
Stand by for white elephant write downs.
