MARKETS

Climate activist shareholders dominate Santos AGM

BOTH chairman Keith Spence and managing director and CEO Kevin Gallagher gave a rundown of a bumper year for Santos, covering its free cash flow, pay down of debt, increase in reserves and contingent resources, acquisition of Quadrant Energy, increase of supply to the domestic gas market and plans to supply Asia with 4.5 million tonnes a year of LNG by 2025, a production target of 100 million barrels of oil by 2025 and a divided of between 10%-30% for shareholders.