Santos Limited
(ASX:STO) has delivered a full year net loss of almost $1 billion driven by a non-cash tax impairment of $1.5 billion.
The oil and gas producer says its underlying profit figure was a healthier $533 million.
The company reported its highest production in five years with record sales revenue and strong operating cash flows.
CEO David Knox says highlights for the year were the start-up of PNG LNG ahead of schedule and progress with the GLNG project.
He says managing costs will continue to be a focus in the current market with capex forecast to be 44 per cent lower in 2015.
A final dividend of 15 cents per share has been declared.
