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Crude Oil July 17, 2025 07:49:03 AM

Santos Q2 2025 Revenues Hit by Weak Oil Prices

Anil
Mathews
OilMonster Author
The rise in sales volume was offset by lower liquids pricing.
Santos Q2 2025 Revenues Hit by Weak Oil Prices

SEATTLE (Oil Monster): Santos Ltd., which operates in the United States, Australia, Papua New Guinea, and East Timor, released its second quarter 2025 results. In the April-June quarter, the company produced 22.2 million barrels of oil equivalent (MMboe), which was 1% more than in the first quarter of 2025. The effects of the Cooper Basin flood counterbalanced the enhanced output from the Western Australia region.

The quarter's sales revenue was $1.29 billion, a 1% decrease from the previous quarter. Lower prices for liquids countered the increase in sales volume.

The company's sales of liquefied natural gas (LNG) decreased from 1.36 million metric tons in Q1 to 1.27 million metric tons. 49 cargoes were exported by the company's LNG projects in the second quarter of this year.

Western Australia was the main driver of the increase in domestic gas sales, which went from 45.8 petajoules in Q1 to 51.2 petajoules in Q2. 1.85 million barrels of crude oil were sold, up from 1.26 million barrels. Liquefied petroleum gas sales also increased from 7,800 metric tons to 29,800 metric tons. Conversely, condensate sales decreased to 997,600 barrels from 1.14 million barrels.

The Pikka oilfield in Alaska's Phase 1 development is about 89% finished, the business reported. By mid-2026, the startup is anticipated. By the end of Q2, the Barossa Gas Project was also approximately 97% complete.

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