Santos writes down GLNG

SANTOS will write down up to US$800 million (A$1.13 billion) in non-cash assets in its upcoming half year results, joining the other majors impairing in the wake of the COVID-19 pandemic and the oil price collapse.

Santos writes down GLNG Santos writes down GLNG Santos writes down GLNG Santos writes down GLNG Santos writes down GLNG

It has also revised its oil price outlook by over 10%, lowering its near-term outlook for Brent crude price to be between US$49-55 per barrel in 2021-2023 and long-term assumption of US$62.

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