Saudi Aramco has officially denied reports suggesting it is considering an offer for Australia’s Santos. Bloomberg had reported that the oil giant, along with Abu Dhabi National Oil Company (ADNOC), was conducting preliminary studies for potential bids. Following Saudi Aramco’s statement, Santos shares fell by 0.7%. Santos operates liquefied natural gas projects in Australia, Papua New Guinea, and Timor-Leste, along with domestic gas operations and oil assets in Alaska.

Oil and Gas, Energy, Mergers and Acquisitions,Saudi Arabia, Australia, United Arab Emirates