Santos needs Plan B after Abu Dhabi pulls A$30b offer

The deal was set to be confirmed on Friday, but there was also speculation the Australian Government could have overruled the bid as contrary to national interest.

Santos has around 60% of its assets in Australia, with the balance in PNG and Alaska.

ASX-listed oil and gas producer Santos has been left pondering its next move after a consortium headed by the Abu Dhabi National Oil Co (Adnoc) last night announced it would walk away from an A$30b ($33b) takeover offer.

Adnoc was partnered in the consortium by private equity firm Carlyle Group and

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Lachlan Colquhoun Thu, 18 Sep 2025

Contact the Writer: lachlan@nbr.co.nz

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