Non-executive director resigns from Santos board

Non-executive director resigns from Santos board
Illustration purposes only (Image courtesy of Santos)

Australian LNG operator and stakeholder, Santos said that non-executive director Greg Marting has retired from the company’s board. 

Stating the retirement is for Personal reasons, Santos noted on Friday that Martin has re-assessed his board responsibilities, which included the Santos board and his executive responsibilities at Prostar Capital.

Martin spent eight years on the board of Santos that reported a $506 million loss for the first half of the year, impacted by a new impairment charge of $690 million it flagged last week primarily against its stake in the GLNG.

However, the company also posted a first-half underlying profit of $156 million for the six months to June, up from a loss of $5 million a year ago.

Following strong volumes from the core assets in the first half and higher forecast domestic sales volumes, Santos has also upgraded its 2017 sales volume guidance to 77 to 82 million barrels of oil equivalent.

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