MARKETS

Santos delivers another loss

SANTOS boss Kevin Gallagher has again backed gas’ role in the Australian energy mix as he delivered a $US1.05 billion ($A1.43 billion) net loss for 2016, down almost half, comprising of its $1.1 billion after-tax writedown on the Gladstone LNG project.

 Santos GLNG tanker.

Santos GLNG tanker.

The loss, which was almost the same as the half-year loss delivered by LNG rival and Gladstone neighbour Origin Energy a day before, came as Gallagher said he was pleased with the progress of his first...

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