Australia’s Santos changes its reporting currency

Australian LNG operator Santos said it will change its reporting currency from Australian dollars to US dollars, commencing with its 2016 interim result.

“This reflects the change in the group’s revenue mix, which is now predominantly US dollar denominated with PNG LNG and GLNG in production,” Santos said on Tuesday.

According to the LNG operator, reporting in US dollars will also enhance comparability with Santos’ industry peer group, the majority of which report in US dollars.

The second quarter activities report for the quarter ended 30 June 2016 and the half-year financial report for the six months ending 30 June 2016 will be presented in US dollars, including all comparative information.