Santos Limited Stock Price Rises as $100 Oil and Moomba Project Boost Outlook
Santos Ltd shares rose 0.5% to A$7.53 Friday as Brent crude closed above $100 a barrel for the first time since August 2022. The company committed A$357 million to the Moomba Central Optimisation project, aiming for over A$600 million in savings and lower unit costs. Santos also plans to cut about 10% of staff after a 25% drop in 2025 underlying profit.