Santos Share Price in Focus After Australia Flags Windfall Gas Tax as Oil Jumps
Santos drew attention heading into the new week, finishing down 0.5% at A$7.98 on Friday, March 20. Investors are digesting news that Prime Minister Anthony Albanese has reportedly instructed Treasury to look at a tax targeting windfall gas profits, right as energy prices are on the move again. The timing is key here. Santos is plugged into Australia’s LNG export network, so any attempt to grab a bigger slice of the action would hit just as export values are surging—thanks to the Middle East conflict and the Strait of Hormuz shutdown. LNG exports out of Australia pulled in A$65 billion last year, according to Reuters. Since the U.S. and Israel struck Iran in February, Asia spot LNG prices have shot