Oil and gas producer Santos hopes to set on a path of recovery after announcing it will raise $3.5 billion through share and asset sales, and appointing an industry veteran as its new chief executive. The embattled company will raise $2.5 billion through a rights entitlement offer, sell $500 million worth of shares to China-based private equity firm Hony Capital, and offload its 35 per cent stake in Victoria's Kipper gas field to Japan's Mitsui for $520 million. It has also appointed former Woodside executive Kevin Gallagher as new chief executive to replace David Knox, who resigned in...