With Santos and Woodside Energy trading below their North American peers, the two local resources giants are back in focus surrounding a potential buyout.North American groups like ConocoPhillips and Chevron are ascribed far higher valuations and, more broadly, many believe it makes sense for the world’s largest oil companies to consolidate the global market.Any move would come hot on the heels of the consolidation already seen in the global pandemic, where Santos paid $21bn for its listed rival, Oil Search, and Woodside purchased BHP’s petroleum business.
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