Oz Santos Reports $357mn Net Loss Feb 18, 2021 3:21:am Summary by: Shardul Sharma Posted in: Oz Santos Reports $357mn Net Loss Australian oil and gas explorer Santos on February 18 reported a net loss of US$357mn during the 12 months to December 31 thanks to lower oil prices. It had recorded a net profit of US$674mn in the previous year. “The reported net loss after tax of US$357mn includes the previously announced impairments, primarily due to lower oil price assumptions,” it said. Despite the net loss, the company delivered an underlying profit, which removes one-time charges, of US$287mn, down 60% year/year.