A local broker (E&P via MarketIndex) recommended investors shift from Santos to Woodside, citing stronger oil leverage and catalysts, reuters.commarketindex.com.au.Specifically:“We would advise investors to switch into Woodside, which has better oil price leverage and catalysts” marketindex.com.au. Highlights Woodside’s superior exposure to oil price upside, enhancing near-term returns.
Key Points: Abu Dhabi National Oil Company (ADNOC) and the XRG Consortium have launched a $30 billion takeover for Australian-based energy company Santos (STO). Santos’ share prices jumped around 15% on the news, but it was already improving due to the rising price of crude oil in the wake of escalating Middle East tensions.
We review the ADNOC-Santos takeover deal, market and broker response, and investigate the likelihood of a rival bid, plus the substantial hurdles it faces to be approved.
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