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Saudi Aramco has denied media reports that the oil and gas giant is considering an offer for Australia’s Santos, calling the reports inaccurate in a statement to Reuters.
Bloomberg News reported on Wednesday that Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have been separately considering bids for the Australian gas producer and were conducting preliminary studies.
Santos shares were down by 0.7% on Thursday, following Saudi’s statement.
Santos is an Australian oil and gas energy company that operates liquefied natural gas projects in Australia, Papua New Guinea, and Timor-Leste. It also has domestic gas operations and oil assets in Alaska.
(Writing by Bindu Rai, editing by Seban Scaria)
