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Santos Limited ( (AU:STO) ) just unveiled an announcement.
Santos Limited has successfully won a legal case against Fluor Australia Pty Ltd, with the Queensland Supreme Court ruling that Fluor must pay approximately A$692 million to Santos and its co-venturers. This judgment stems from a dispute over an engineering and construction contract related to the Gladstone LNG project, where Santos claimed Fluor was not entitled to certain costs and sought damages for project delays. The court’s decision supports Santos’ financial recovery efforts and reinforces its contractual rights, potentially impacting its financial standing and stakeholder confidence.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
More about Santos Limited
Santos Limited is a leading energy company in the oil and gas industry, primarily focused on the exploration and production of natural gas. The company is involved in major projects such as the Gladstone LNG project, which highlights its significant role in the energy market.
YTD Price Performance: 20.91%
Average Trading Volume: 11,359,465
Technical Sentiment Signal: Buy
Current Market Cap: A$25.53B
See more insights into STO stock on TipRanks’ Stock Analysis page.