Generic Hero BannerGeneric Hero Banner
Latest market news

Abu Dhabi’s Adnoc extends due diligence on Santos bid

  • Märkte: Crude oil, Natural gas
  • 11.08.25

A bidding consortium led by Abu Dhabi's state-owned Adnoc's XRG arm has extended a six-week due diligence period to finalise a proposed $19bn takeover bid for Australian independent Santos.

Santos has agreed an extension with the group until 22 August, the firm said, while the exclusivity conditions outlined in June will continue to apply.

"The XRG consortium has confirmed it has not discovered anything to date that would cause it to withdraw its indicative proposal and has confirmed its commitment to working constructively with Santos to complete the due diligence promptly and agree on a binding transaction," Santos said on 11 August.

The deal will require significant regulatory oversight before it closes. South Australia's government has demanded Santos retain its headquarters in state capital Adelaide or potentially lose permits to operate gas fields in the onshore Cooper basin.

Federal treasurer Jim Chalmers will have the final say on whether to approve the sale, following advice from the Foreign Investment Review Board.

Santos, Australia's second-largest listed oil and gas producer, will release its half-year results on 20 August.


Teilen
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more