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AAP
AAP
Business
Jacob Shteyman

Russian invasion fuels Santos profits as prices surged

Santos Natural Gas Gas Prices Ukraine
Despite more than double the previous year's earnings, Santos' result was just below expectations. (PR HANDOUT IMAGE PHOTO) (AAP)

Rising oil and gas prices fuelled by the Russian invasion of Ukraine have propelled gas producer Santos to record profits.

Australia's largest natural gas supplier reported on Wednesday a 221 per cent surge in net profit after tax to $US2.1 billion for the year ending December 31.

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