Energy giant Santos believes it can weather the oil price rout after shedding a quarter of its workforce and taking an eye watering $2.7 billion full year loss. The loss was caused by $2.8 billion in previously flagged writedowns and cuts to its oil and gas reserves. The company is reducing the value of its key Cooper Basin, Gladstone LNG and Gunnedah Basin assets, and joins a growing list of energy players hit by the slump in commodity prices.
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