20240611 aramco
Santos shares experienced a 0.7 per cent decline Image Credit: Reuters

Dubai: Saudi Aramco refutes media claims suggesting it is contemplating a bid for Australia’s Santos, dismissing the reports as inaccurate in a statement to Reuters.

Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) were reportedly conducting initial assessments for potential offers on the Australian gas producer, according to Bloomberg.

Following Saudi Aramco’s statement, Santos shares experienced a 0.7 per cent decline.

Santos, an Australian energy company, operates liquefied natural gas projects in Australia, Papua New Guinea, and Timor-Leste, alongside domestic gas operations and oil assets in Alaska.