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ADNOC-LED CONSORTIUM PULLS $18.7 BILLION BID FOR AUSTRALIA'S SANTOS

  • NEWS Desk Global
  • Sep 17, 2025
  • 1 min read

Abu Dhabi National Oil Company has withdrawn the $18.7 billion offer it led to buy Australian gas producer Santos after months of disagreement over valuation.

The move on Wednesday may slow down ADNOC's aggressive overseas expansion as the firm looks to invest its booming domestic oil income. It also highlights the difficulties foreign firms face when trying to buy assets in Australia.

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