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AAP
AAP
Business
Marion Rae

Gas giant Santos accused of eroding shareholder value

Santos chief Kevin Gallagher says work has resumed on Barossa after legal challenges. (Matt Turner/AAP PHOTOS)

Gas giant Santos insists it's looking at options to reward shareholders after terminating merger talks and reporting a sharply lower annual profit amid lower commodity prices and inflation pressures.

Shares in Santos eased five cents to $7.35 in afternoon trade on Wednesday, trimming earlier losses after it revealed a 42 per cent slide in underlying profit for 2023.

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