Santos Ltd. , Australia’s third- largest oil and gas company, is seeking clarity on the country’s proposed 40 percent tax on resource profits in order to proceed this year with a project in Queensland.
Santos Ltd., building a liquefied natural gas project in Queensland state, plans to collaborate with rivals to cut costs as rising expenses threaten $156 billion of developments proposed by the industry in Australia.
Santos Ltd. , the Australian energy company planning a $15 billion liquefied natural gas project in Queensland, aims to sell at least 15 percent of the venture before committing to the first phase later this year.
Total SA , Europe’s third-largest oil producer, agreed to acquire 20 percent of Santos Ltd. ’s proposed liquefied natural gas project in Australia’s Queensland state for more than A$860 million ($790 million).
Santos Ltd. isn’t considering a bid for Eastern Star Gas Ltd., the Australian Financial Review reported, citing an interview with Santos Chief Executive Officer David Knox. Santos is happy with its 19.9 percent stake in Eastern Star, the newspaper said, citing Knox.
Santos Ltd. , the Australian gas producer planning an export project in Queensland, said it may delay an investment decision on the venture as it studies the government’s proposed new tax on resource profits.