Santos Rally Stalls On Stable Production, Lower Sales

What a difference a rising oil price is making to the tone and confidence of major oil and energy companies here and offshore. Majors like BP and Shell are not upbeat and talking about expansion – ConocoPhillips has boosted its planned spending, Total is going deeper into LNG, while back home Woodside is looking at expansion on the northwest shelf and Santos, which was up to earlier this year on life support, is now far more optimistic about its future and planning to boost spending in 2018.

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