Reported 12 months ago
Saudi Aramco and Abu Dhabi National Oil Co. are reportedly exploring potential bids for Santos Ltd., showing interest in the Australian company's LNG assets. The stock of Santos rose by 6.5% in Thursday trading, reaching a two-year high, and closed up by 4.2% in Sydney. Aramco and Adnoc are evaluating Santos as a potential acquisition target, considering the increasing importance of natural gas in the energy transition, with deliberations ongoing and no final decisions made yet. Santos has faced failed takeover attempts and pressure from investors to unlock higher valuations by separating its LNG assets from other businesses.
Source: YAHOO