Abu Dhabi’s Adnoc has made a significant move by bidding $19 billion to acquire Australia’s Santos. This acquisition aims to expand Adnoc’s global footprint in the energy sector and diversify its portfolio. The deal, if successful, would enhance Adnoc’s production capacity and strengthen its position in international markets. The Santos acquisition aligns with Adnoc’s strategy to invest in high-growth regions and secure long-term energy supplies.
— new from Financial Times
