Santos changes reporting currency
Published by David Rowlands,
Editor
LNG Industry,
Santos has announced that it will change its reporting currency from Australian dollars to US dollars. This will commence with the 2016 interim result.
Santos claims that this change reflects a shift in the company’s revenue mix, which is now largely US dollar denominated with Papua New Guinea LNG (PNG LNG) and GLNG in production. In its statement, the company also claims that switching to US dollars will improve comparability with its industry peer group – the majority of which report in US dollars.
Santos’ activities report for 2Q16 ended 30 June 2016 and the half-year financial report for the six months ending 30 June 2016 will be presented in US dollars, including all comparative information.
Edited from press release by David Rowlands
Read the article online at: https://www.lngindustry.com/liquefaction/19072016/santos-changes-reporting-currency-2777/
You might also like
Naftogaz secures first ever delivery of LNG via Germany terminal
Naftogaz Group has secured the supply of US LNG via Deutsche ReGas’s LNG terminal located on the island of Rügen, Germany, in the Baltic Sea.
