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AAP
AAP
Business
Marion Rae

Santos profit triples on gas, oil bonanza

Santos gas company has reported a half-year net profit after tax of $US1.167 billion. (PR HANDOUT IMAGE PHOTO) (AAP)

Santos has posted record production, earnings, and cashflow in the first-half of 2022 on increased demand and rising oil and LNG prices.

The Adelaide-headquartered company reported on Wednesday a half-year net profit after tax of $US1.167 billion ($A1.66 billion) for the first half of the financial year, up 230 per cent and an underlying profit of $US1.267 billion ($1.8 billion), up 300 per cent.

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