Overview
Santos will cut 10 per cent of jobs and has flagged potential sales of Australian assets, including the Narrabri gas project in NSW, in a bid to streamline its business and lift shareholder returns.
The reduction of about 400 jobs is part of a fresh push to lower costs and upgrade the portfolio as two large new growth projects begin production.
Source: https://www.afr.com/companies/energy/santos-profit-sinks-35pc-on-weaker-oil-and-gas-prices-20260216-p5o2lb