Australia's second biggest oil and gas producer has stressed the role of fuels in the energy transition, months after being accused of misleading the public on its net-zero plan.
Santos chief executive Kevin Gallagher talked up the organisation's performance despite sliding share prices and called for "sensible" policy in the energy transition.
"Because, the world is going to need more energy, not less, and all energy sources will have a role to play," he told shareholders at the Santos annual general meeting on Thursday.
Mr Gallagher noted Santos was well positioned to ride out recent volatility in equities and commodities markets, which have contributed to a nearly 30 per cent slide in the group's shares since July.
"The global uncertainty in capital markets is affecting stocks worldwide, not only Santos," he said.
"Despite this, Santos' business continues to perform well and generate strong cash flows with low production costs."
Mr Gallagher also poured water on rumours of succession planning swirling around the chief executive.
"Despite rumours to the contrary, I am not planning to go anywhere anytime soon," he said.
"There is still plenty for me to do."
In a hotly contested meeting, an occasionally exasperated chair Keith Spence defended the ability of Santos to balance new oil and gas projects with its 2040 net-zero plan.
"I can quote the (International Energy Agency) from March, where (executive director) Faith Birrol stood up and said, 'We need more developments in oil and gas," Mr Spence said.
"So I'm past that. Let's get on with the job of reducing emissions. Thank you."
The organisation was in court late in 2024 to defend claims its emissions reduction plan, launched in 2020, amounted to misleading or deceptive conduct, a charge Santos has denied.
The group's controversial Narrabri project - awaiting regulatory and Native Title Tribunal approval - was passionately questioned by Gomoeroi people at the meeting.
"My family and I can no longer practice our spiritual beliefs and our cultural practices within the Pilliga forest due to the ongoing harassment, intimidation and intrusion of our privacy due to Santos security, which includes their live feed video cameras set up all over our forest," emerging elder Deborah Briggs said.
Traditional owner and registered nurse Michelle Cutmore said mining disrupted sacred sites, waterways and ecosystems that were integral to reciprocal cultural and spiritual practices.
"My ancestors have been here for tens of thousands of years," she said.
"We are not the problem."
In response, the Santos chair said the group had engaged with Gomeroi people since they first acquired the project in 2012, with formal negotiations starting in 2015.
"We have good support at the local community level, but there are differences of opinion," Mr Spence said.
"We are very genuine about our engagement with the Gomeroi people and the difference that we think we can make as a member of your community."
Mr Gallagher said the company would not take a decision on Narrabri until all approvals and legislative risk surrounding the project had been resolved.
