Australia's Carnarvon Energy faces worst day in 4 months on WA project delay

Carnarvon Energy

17/08/2022 04:21

** Shares of Carnarvon Energy Ltd  CVN.AX  slide as much as
17.5% to A$0.165, their lowest since July 15
    ** Stock posts its sharpest intraday pct fall since April 19
    ** Oil and gas explorer says final investment decision
(FID)for Dorado project in Western Australia, co-owned by Santos
 STO.AX , will be delayed  urn:newsml:reuters.com:*:nASX1ckP1p
    ** Santos says the inflationary cost environment and
supply-chain uncertainty do not support FID in 2022
    ** More than 25.2 mln shares change hands, compared with the
30-day average of 2.8 mln shares 
    ** Stock had fallen 41.2% this year, as of last close

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))