Aramco, Adnoc considering bids for gas producer Santos

State-owned Aramco and Adnoc have been conducting preliminary evaluations of Santos as a possible acquisition target. — Bloomberg

SYDNEY: Saudi Aramco and Abu Dhabi National Oil Co have been separately studying potential bids for Australia’s Santos Ltd, as the Middle Eastern energy giants seek to ramp up their gas investments overseas, people with knowledge of the matter say.

State-owned Aramco and Adnoc have been conducting preliminary evaluations of Santos as a possible acquisition target, the people said, asking not to be identified because the information is private.