Santos has put plans for a $3.2 billion oil and gas project in Western Australia on ice as it works on increasing shareholder returns ahead of growth, sending the share price of its minority partner plunging.
Carnarvon Petroleum shares fell as much as 27 per cent as the explorer said Santos had ditched plans to purchase an oil production vessel for the Dorado project and decided against starting engineering and design work.
Source: https://www.afr.com/companies/energy/santos-puts-massive-west-australian-oil-and-gas-project-on-ice-20250121-p5l611