Santos

IEEFA Research

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

With export markets' changing expectations, investors and industry beware

31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]

IEEFA update: Australia’s gas-led recovery is flogging a dead horse

With LNG worse for the climate than coal, Australia must adjust to our export markets shrinking

With polluting emissions from LNG 13% higher than gas, and Australia’s primary export destinations targeting net zero emissions and therefore less dirty LNG, Australia’s gas-led recovery is looking increasingly like the Australian government is ‘flogging a dead horse’. Australia’s core export markets for LNG, coal and iron ore – Japan, South Korea and China – […]

November 3, 2020 Read More →
IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

29 September 2020 (IEEFA): Australian gas consumers will likely see higher, rather than lower gas prices if Santos’ Narrabri gas fields are approved due to the distance the gas must travel to reach consumers on infrastructure that will need to be built. Gas/LNG financial analyst Bruce Robertson concludes the proposed Narrabri gas fields are uneconomic […]

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

The Narrabri gas project must be rejected

26 August 2020 (IEEFA Australia): The NSW Independent Planning Commission (IPC) will have no other avenue but to reject the proposed coal seam gas project in Narrabri, New South Wales after assessing the clear and unequivocal evidence surrounding the many economic and environmental, social and governance issues related to the proposal, notes the Institute for […]

IEEFA Australia: Auditors take note – Santos’ accounts misleading since 2014

Oil price assumptions contained in the annual accounts have been consistently over optimistic

The oil price assumptions on which Australia’s second-largest independent oil and gas producer Santos bases its accounts have been overly optimistic every year since 2014, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA) In IEEFA’s opinion, Santos’ latest accounts to be voted upon on 3 April 2020 and […]

IEEFA: Volkswagen lied about emissions from their vehicles, and the gas industry is also lying about their emissions

5 March 2020 (IEEFA Australia): The gas industry is misleading government, investors, customers and the broader population about the amount of carbon dioxide and methane emissions being released during production, supply and distribution of both conventional or ‘natural’ gas and its product for export – liquefied natural gas (LNG), finds a new report out today […]

IEEFA update: Santos loses $7 billion in write-offs in 5 years

IEEFA update: Santos loses $7 billion in write-offs in 5 years

Government backs a losing company, and a losing industry

19 February 2020 (IEEFA Australia): Australian energy company Santos which owns the yet to approved government-backed Narrabri gas fields in New South Wales has suffered $6.9 billion in write-offs on Australian coal seam gas (CSG), shale gas and its ill-fated CSG to LNG project at Gladstone in just five years and a further $58 million […]

Briefing note: The Narrabri Coal Seam Gas Project

Briefing note: The Narrabri Coal Seam Gas Project

Briefing note: The Narrabri Coal Seam Gas Project (pdf) By Tim Buckley, Director of Energy Finance Studies, Australasia

December 9, 2014 Read More →
Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk (pdf) By Tim Buckley,  Director of Energy Resource Studies, Australasia, IEEFA

April 18, 2014 Read More →

More News and Commentary

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry
and

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

The Narrabri gas project must be rejected

26 August 2020 (IEEFA Australia): The NSW Independent Planning Commission (IPC) will have no other avenue but to reject the proposed coal seam gas project in Narrabri, New South Wales after assessing the clear and unequivocal evidence surrounding the many economic and environmental, social and governance issues related to the proposal, notes the Institute for […]

IEEFA Energy Finance Conference 2020: Coal, LNG, petrochemical sectors face poor outlook and uphill battle for investors

Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic

Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference. The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, […]

July 24, 2020 Read More →

IEEFA update: Australia sponsors a failing gas industry

The story of the Narrabri gas project

The controversial Narrabri gas project for New South Wales, Australia enters the final stages of approval with over 400 people presenting to the Independent Planning Commission who will determine its fate. The project is the most hotly contested resource project in the history of the state with over 23,000 submissions, 98% of which objected to […]

IEEFA Australia: Renewables or gas – which will we choose?

It’s crunch time for the future of the north west of New South Wales, Australia. Will the region choose gas, or a renewable future? Jobs and investment are needed in the North West now, not in a decade’s time. Let’s look at what’s on the table. We’ve just seen the New South Wales government announce […]

Santos takes A$1.13 billion writedown as pandemic oil and gas crisis hits

Australian Financial Review: Write-downs by Santos of up to $US800 million (A$1.13 billion) have axed $US7 billion of asset value from ASX-listed oil and gas producers in nine days, underlining the heavy toll the COVID-19 pandemic is taking on one of the country’s biggest export industries. The damage includes a fourth impairment on the value […]

July 21, 2020 Read More →

IEEFA Australia: Dubbo’s new renewables zone shows the path away from fossil fuels

Markets are telling us renewables are the best solution for a faster recovery

With the economy faltering during the COVID-19 pandemic and jobs in short supply, different solutions are being proposed to move the country into a sustainable economic recovery. To benefit all Australians, many of whom are struggling with job losses, health concerns and faltering businesses, projects considered for the way forward should fulfil two simple criteria: […]

IEEFA Update: The markets won’t respond to Australia’s proposed “gas-fired recovery”

The NCCC’s gas-based agenda is bound for failure

Australia’s National COVID-19 Coordination Commission (NCCC) has outlined its plans for a gas-fired recovery in a leaked report. Essentially it is looking to lower the domestic price of gas to $4/gigajoule by following the U.S. model of gas production and build a gas intensive manufacturing base off the back of this cheap resource. There are […]

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IEEFA podcast: Banking on oil, gas and petrochemicals is a defensive strategy unlikely to work

A suicide mission?

Building a petrochemical facility reliant on the fossil fuel – gas – is one of the top-listed projects put forward by the Australian government aimed at stimulating the economy post COVID-19. The $1.9bn fertiliser facility pegged for Narrabri in New South Wales is not a new idea, and it can’t get planning approval until gas […]

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IEEFA Australia: Auditors take note – Santos’ accounts misleading since 2014

Oil price assumptions contained in the annual accounts have been consistently over optimistic

The oil price assumptions on which Australia’s second-largest independent oil and gas producer Santos bases its accounts have been overly optimistic every year since 2014, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA) In IEEFA’s opinion, Santos’ latest accounts to be voted upon on 3 April 2020 and […]

IEEFA Australia: Origin pulls the plug on gas exploration in the Northern Territory. Who’s next?

The crash in oil prices exacerbates the uncertain future of gas

In the last few weeks, we have seen a flurry of activity in the oil and gas industries. Fracking companies in particular have been trying to respond to both the oil crash and the coronavirus crisis with a business-as-usual approach. In the Northern Territory of Australia, where there a number of exploration projects, the government […]