Santos Ltd., Australia’s third-biggest oil and gas producer with stakes in three LNG projects, has seen its shares plunge almost 20 percent in less than a month since it posted net losses of over US$1 billion as a leading bank says the company needs to borrow around $3.5Bln.

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Australian energy company and LNG operator Santos said its Chief Financial Officer Andrew Seaton would be retiring from the company by the end of 2016 following more than 11 years of service.

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Australian energy company and major LNG stakeholder Santos said natural gas was the only fuel at present that could help clean up Asia and control carbon emissions, including in the region’s largest economy, China.

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Asia-Pacific LNG stakeholder Santos of Australia has just overhauled its executive team as new Chief Executive Keven Gallagher puts his stamp on the company for the challenges of the oil price slump.

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