The company also generated a record free cash flow of $US865 million to start 2022 – up 186 per cent on Q1xjmtzyw 2021.
Santos has achieved the record result without a substantial increase in the volume of its oil and gas sales, which have increased only eight per cent from Q4 2021 and just three per cent from Q1 2021.
Santos attributed this quarter’s sales revenue windfall to increased commodity prices around the world and the completion of its merger with Papua New Guinea’s Oil Search in December.
Oil and gas prices have been surging amid the war in Ukraine, with countries in Europe and Asia looking for alternative sources of energy to Russia – the world’s biggest natural gas exporter.
