Australia's Santos aims to slash net debt by $2.5 billion, focus on LNG output

Santos said it aims to trim net debt by $2.5 billion by 2030 while concentrating investment in major oil and liquefied natural gas production in tier-1 basins. The plan signals a more disciplined capital allocation approach and a continued focus on core upstream assets. The announcement is directional rather than event-driven, so near-term market impact should be limited.

Analysis

Santos said it aims to trim net debt by $2.5 billion by 2030 while concentrating investment in major oil and liquefied natural gas production in tier-1 basins. The plan signals a more disciplined capital allocation approach and a continued focus on core upstream assets. The announcement is directional rather than event-driven, so near-term market impact should be limited.