Santos (ASX:STO) reports 60% fall in NPAT for full year 2020

Company News

by Melissa Darmawan

Gas supplier Santos (ASX:STO) reports underlying net profit after tax fell 60 per cent to US$287 million for their full year 2020, down US$432 million than 2019.

The company's net loss after tax is down 153 per cent to US$357 million attributed lower oil prices, which were partly offset by higher volumes and lower costs.

Santos' delivered an annual production of 89.0 million barrels of oil equivalent, a record for the company, up 18 per cent the prior year.

The company will pay a final dividend of US 5 cents per fully franked in March.

Shares in Santos (ASX:STO) are trading 1.4 per cent higher at $7.14.