Saudi Aramco, ADNOC Group reportedly weigh bids for Santos

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Saudi Aramco and ADNOC Group have been separately considering bids for Australian liquefied natural gas (LNG) producer Santos as the GCC energy giants seek to ramp up their gas investments overseas.

Sources told Bloomberg that state-owned Aramco and ADNOC have been conducting preliminary evaluations of Adelaide-based Santos as a possible acquisition target. The sources said Santos could attract interest from other potential buyers, according to the report. Deliberations are ongoing, and the suitors…