(EnergyAsia, February 29 2016, Monday) — Australian upstream company Santos said it wrote off a further A$3.924 billion worth of assets after reporting a record loss of A$2.9 billion last year as oil and gas prices continued their rapid descent from mid-2014. (US$1=A$1.4). The tide of red ink flowed through from 2014 when the company reported a loss of A$935 million and was hit with a A$2.4 billion write-off.

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