Abu Dhabi’s massive state-owned oil company has had preliminary talks with Santos about taking a stake in the ASX-listed business, which is the country’s second-largest gas producer after Woodside Energy.The Abu Dhabi National Oil Company, known as Adnoc, has not put a formal takeover proposal on the table. That move would require disclosure. However, people with detailed knowledge of the talks said they took place “recently” and “given market volatility, Adnoc may look to move quickly”.
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